Does Business Have Any Social Responsibility - 1538 Words

The topic I choose was â€Å"Does business have any social responsibility (over and above turning a profit) and if it does what should such a responsibility amount to?†. I feel as though profits are a huge part of what a business should focus on, it should not be the only thing. I learned in one of my business classes that a corporation acts as a fictitious person. It bears the responsibility of any all decisions, good and bad. The benefit of a corporation versus sole proprietorship is that the business takes on the debt, not the sole proprietor. When the corporation goes belly up, the stockholders aren’t going belly up as well. So therefore, the corporation should be socially responsible, just as a person should be. Corporate responsibility has been a hot topic issue this year partially due to the election. It is among the favorite topics of politicians and public interest groups. Congress often offers tax breaks to companies that incorporate social responsibility into their mission. Almost all colleges teach a class of some form of social responsibility in a corporate world. In 1992, a formation of 51 companies created Business for Social Responsibility (BSR) (Business for Social Responsibility, n.d.). One company that has been with BSR from the beginning is Ben Jerry’s Ice Cream. Ben Cohen was featured in the inaugural event. Everyone knows that Ben Jerry’s has been a leader in the social responsible corporation arena for a long time. They promote GMOShow MoreRelatedThe Theory Of Social Responsibility1673 Words   |  7 PagesThe pattern of social responsibility will be demonstrated in this paper by noting a couple inquiries encompassing the thought and routine of social responsibility. The paper will start with characterizing the idea of social responsibility and noting the accompanying inquiries: What does Cohen feel is the social responsibility of a business to its workers, stakeholders, and society as a whole? How does this perspective align with that of Drucker? How does Cohen’s opinion compare with that of FriedmanRe ad MoreSocial Responsibilities And Moral Character Of Business1175 Words   |  5 Pages Social Responsibilities and Moral Character of Business Milton Friedman was a 20th century American economist who advocated free-market capitalism. In 1970 he submitted an editorial article entitled â€Å"The Social Responsibility of Business is to Increase its Profits† to the New York Times. In the article, Friedman argues that in free market systems it is nonsensical to make corporate entities adhere to â€Å"social responsibilities of business† pushed by activists, as corporations are artificial in natureRead MoreEssay on managerial ehics1410 Words   |  6 PagesComplete Discussion Questions 3, 4, and 5 on page 27 of Business and Society. 3. Identify and explain the major factors in the social environment that create an atmosphere in which business criticism takes place and prospers. How are the factors related to one another? Has the revolution of rising expectations run its course? Or is it still a vital reality? Affluence refers to the level of wealth, and standard of living of the society. As the standard of living is increasing every year, peopleRead MoreSocial Responsibility Of A Business1444 Words   |  6 Pagesareas of business and nonprofit management. However, Cohen’s article on social responsibility drew a lot attention from other scholars like Friedman. In view of this, this paper will discuss and define the concept of social responsibility of a business to its workers, stakeholders, and society; how the perspectives align with that of Drucker; comparing Cohen’s opinion with that of Friedman and finally determines which of the two individual’s opinion best aligns with the current business climate promotingRead MoreSocial Responsibility And Triple Bottom Line1674 Words   |  7 Pagesexplaining the statement, plus providing insight to social responsibility and triple bottom line, will help to understand the impact of the statement. In addition, the narrative w ill explore the underlying outcome from social responsibility and triple bottom line, known as wealth redistribution. Breaking It Down A multinational corporation is one that does business in two or more nations around the globe. The statement emphasizes that a global business has to go further than just being socially responsibleRead MoreAre Profits The Only Business Of Business?1523 Words   |  7 PagesAre profits the only Business of Business? What is the corporation’s social responsibility? Many might say the main idea is that a corporation must go further than carrying out their basic function of purely making profits. A corporation must create wealth in ways that avoid under minding society, and instead enrich the society it operates in. The term â€Å"corporate social responsibility† has been deï ¬ ned in numerous ways; from the constricted economic perception of increasing stockholder wealth (FriedmanRead MoreWhat Role Should Management Have Within A Business Essay1744 Words   |  7 PagesWhat role should management have within a business regarding social responsibility? Explain. According to Friedman, a manager’s only responsibility is to the shareholders, and not society as a whole (Jennings, 111). We all agree that a manager s primary responsibility is to the company and the shareholders. We feel that the manager’s role is to act as an agent to conduct business in congruence with the goals set by the shareholders and laws of society, effectively making profit for the company.Read MoreThe Concepts of Ethics and Social Responsibility866 Words   |  4 Pagesof ethics and social responsibility, in business, are whatever the company wants them to be. There is no fixed definition, so the company must make its own determination. Schulman (2006) notes that ethics and social responsibility factor into strategy because, like strategy, they cut to the essential core of the organization. Questions like What do we stand for?, What is our purpose?, and What values do we have? are central to both the ethics of the organization and its business. The most basicRead MoreEthics And Values And Ethics872 Words   |  4 Pages Ethics and values are a part of every human being, but not everyone has the same set. The ethics and values that a person may have usually come from their upbringing, religion, and other circumstances they may go through. To be a successful manager, one must know a few things about ethics and values and be socially responsible. The first thing managers need to know is that employees with higher ethics and values most often believe in a higher authority, such as a supreme deity. If in the case ofRead MoreNew Belgium Brewing Essay763 Words   |  4 Pages1. What environmental issues does the new belgium brewing company work to address? How does NBB taken a strategic approach to addressing these issues? Why do you think the company has taken such a strong stance toward sustainability? NBB try to reduce negative impact on environment by using cost-efficient energy-saving alternatives. NBB invests in a wind turbine, making it the first fully wind powered brewery in the United States. NBB has also used a steam condenser that captures and reuses hot