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Responsible Business Assignment 1 (2000 Words) The purpose of this report is to evaluate and research extensively on ‘Responsible Business’ I will discuss and examine what role the government plays as an influencer or what laws they have implemented for Responsible Business. Furthermore I will review and evaluate the topic of Pressure Groups and what approaches they have taken to influence business on being responsible. I will provide relevant and recent information on events that have occurred from the pressure groups to enforce responsible business. Finally I will give you justification and evidence that I have gathered from the research undertaken to carry out my assignment 2. Briefly consider what constitutes “Responsible Business” Countless studies have tried to reach a definition of Responsible Business. Although it is hard to present a firm definition, much of the research done has identified many kinds of responsible / irresponsible business. The majority of major companies will decide for themselves if they are being a responsible business through the activities that they are doing. Furthermore the theory of Responsible Business is an ongoing developing idea, which means different things to different people. Archie Corroll (1999) observed that: "The social responsibility of business encompasses the economic, legal, ethical, and discretionary expectations that society has of organisations at a given point in time." W.Frederick summed up the theory as follows: “ The Fundamental idea of corporate social responsibility is that business corporations have an obligation to work for social betterment.” As Frederick believes that business have an “obligation to work for social betterment” we cant replay on this theor... ... middle of paper ... ...history of oil spills many of them, which were covered up from the public eye. Gazprom’s equipment is decades out of date, demonstrating this in 2011 when one of their oilrigs sank of the coast of Siberia killing over 50 employees. Yet shell is happy to sign a deal with Gazprom to continue drilling. demonstrating Pressure Groups play a massive role in Responsible Business as they were the first people to actually stand up to the major companies in making them become more responsible weather that is a major oil company like shell to even some of our major food brands like Tesco and Sainsbury’s. They have all been affected in a certain way and all have a role to play in becoming more responsible but thankfully these Pressure Groups are here to stay and work together because there is still a lot more to be done to ensure that change and progress is still being made.
...Foundational Considerations in the Corporate Social Responsibility Debate’, Business Horizons, vol. 34, no. 4, pp. 9-18.
Typically in the business cycle, companies have a tendency to become the most concerned with the sales sector of their industry. These companies look passed the environmental detriment of society for the chance at obtaining an additional dollar. “When money becomes a measure—as well as the means—of all things, the potential for economic and political mischief grows” (Chouin...
“There is only one and only one social responsibility of business- to use its resources and engage in activities designated to increase its profits so long as it decides to stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”
Ciulla, J. B., Martin, C. W., & Solomon, R. C. (2007). Is "The Social Responsibility of Business... to Increase Its Profits"? Social Responsibility and Stakeholder Theory. Honest work: a business ethics reader (pp. 217-253). New York: Oxford University Press.
There are many different definitions of what a pressure group is Peter Lynch argues that a pressure groups is ‘Private, voluntary associations that wish to influence or control particular public policies, without becoming the government and controlling all public policy (Lynch, 2007, p. 245). Another definition is ‘Pressure groups are social aggregates with some level of cohesion and shared aims which attempt to influence the political decision-making process’ (Ball, A.R. and Millard, F, 1986, pp. 33-4). A final definition is ‘A pressure group is any organization that aims it influence public policy by seeking to persuade decision-making by lobbying rather than by standing for election’ (Coxall, 2001, p. 3). Overall pressure groups exist to help groups of people or causes, to promote their interest and will try to influence a certain section of society whether it is the government or the general p...
The earliest impressions that the book makes on the mind of the reader is that “Corporate Social Responsibility” is not just about some kind of vague theories but supports all that it preaches with practical applications. Labelling the book as “a Bible for today’s corporate citizen”- as the publisher does on the flap of the book- may be stretching it a bit too far, but “Corporate Social Responsibility”, does provide thoughtful answers to a number of vital questions on how a corporation could do most good for itself and its
To supply the wants and needs of a consumer, society entrusts wealth-producing resources to the business enterprise.” (Santayana, George. Is The Tyranny Of Shareholder Value Finally Ending? So before we go into greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit society.... ...
...s and lack of rigor. One of the most asked questions is: What does it mean to say that a "business" has responsibilities? A corporation is an artificial thing meaning it has artificial responsibilities, but "business" as a whole cannot have responsibilities, even in a vague sense. When trying to understand what it means to have responsibilities, we have to examine the doctrine of the social responsibility of corporations and ask who it precisely refers to. There is no tangible responsibility that can be placed upon an inanimate building. Presumably the individuals who are to be responsible are the bosses, which means individual proprietors or corporate executives. Most of the discussion of social responsibility is directed at corporations, so in what follows mostly neglect the individual proprietors and speak of corporate executives because they are in-charge.
To conclude business organizations do not have the right to deceive individuals and consumers in specific because Albert Carr’s claim that business is a game cannot be justifiable and supported with reasons that may harm or the community and its people. However, I do believe that business organizations should be socially responsible and that would help them maximize profits in the long run (Lauren, 2011)
The article “The Social Responsibility of Business is to Increase its Profits” is written by a famous economist Milton Friedman. Friedman in this article implies that shareholders are the main drivers of the corporations and he believes that it is to them corporations must be socially responsible to. The goal of any corporation is to maximize profits and return the portion of these profits to shareholders for investing in the corporation. The shareholders can themselves decide which social causes to take part in rather than assigning a corporate executive to decide on their behalf. Friedman argues that a corporation must have no social responsibility to society because its only concern is the increase profits for itself and its shareholders.
Friedman, M., (2007). The Social Responsibility of Business Is to Increase Its Profits. In W.
When the problem became serious two main views formed: the “narrow” view and the “broader” view, based on different ideas. The “narrow” view is based on the proposition that corporations have no social responsibility and they have only one main purpose, to make a profit (Friedman, 1970). So corporations should remain socially independent and all conflicts must be solved through the individual responsibility concept. On the contrary the “broader” view states that corporations have social obligations as all existing participants of market, persons and entities are tied together and are mutually dependent. So corporations cannot ignore some serious events or problems, which take place, and must help society, as profit is not their single purpose.
It seems obvious that large corporations have a tendency to ignore the negative effects of their actions in favor of profit. This example, although sensationalized, still says to me that with power comes responsibility. It affirmed my belief that a corporation’s goal cannot be just to provide profit to shareholders, but there must also be an element of social responsibility.
Corporations that place an importance on corporate social responsibility usually have an easier experience when dealing with politicians and government regulators. In compare, businesses that present an irresponsible disregard for social responsibility tend to find themselves fending off various reviews and probes, often brought on at the assertion of public service organizations. The more positive the public insight is that a corporation takes social responsibility seriously; the less likely it is that innovative groups will launch public campaigns and claim government inquiries against it.
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...