Explain the Two Different Opinions of Social Responsibility

Government regulation and public awareness are external forces that have increased the social responsibility of business. Two opposing perspectives to CSR have emerged resulting from different interpretations of the role of corporations in societybusiness view and societal view.

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Social responsibility is the concept that people should be accountable for their actions and not impact their society in a negative manner.

. Literature Review 21 Emergence Social Responsibility. Some critics argue that corporate social responsibility CSR distracts from the fundamental economic role of businesses. Social responsibility is the duty of businesses towards society.

Business depends on society for inputs like money men and skills and also for market where products have to be sold to the customers. The business depends on society for existence sustenance and encouragement. Opinions about businesss social responsibilities lie mainly between two extremes.

This is a consideration in every action that is taken including fundamental questions regarding the structure of societies business models and lifestyles. Now a company can contribute to different types of corporate social responsibility CSRs to improve society ranging from donating money to nonprofits or charitable organizations or implementing environmentally. Results show that various publics believe corporations should be most concerned with producing quality.

Corporate social responsibility is an essential aspect in the business world. The community is organic. There are two approaches to understand businesses social responsibility.

TWO PERSPECTIVES ON CORPORATE SOCIAL RESPONSIBILITY. Being a socially responsible company can bolster a companys image and build its brand. Buffett understood that the purpose of any business is not only to make a profit but also to be responsible for its actions and decisions.

Environmental responsibility refers to the belief that organizations should behave in as environmentally friendly a way as possible. It is an obligation for a business organization to pursue long term goals that are good for the society. When applied to businesses corporate social responsibility CSR which is also referred to as corporate citizenship involves being aware of the impact a company has on the community or world around them.

Social Responsibility of business with respect to different stakeholders. GRUNIG University of Maryland A situational theory is used to explain the com-munication behavior and attitudes of publics that arise from issues of corporate social responsibility. Others argue that it is an attempt to pre-empt the role of governments as a watchdog over powerful corporations although there is no systematic evidence to support.

Society exists prior to any particular individuals existence. At the one extreme is the classical view that states business is an economic institution directed towards profit whose. Being so much dependent on society business also has a.

Two instances of lack of social responsibility of business witnessed in India are worth mentioning. The Historical Development of CSR 1 First phase. According to communitarianism society is more than the sum of the individuals in it.

Milton Friedman one of the. According to the Milton Friedman an economist that today managers are professionals their social responsibility is. Social responsibility is the diligence and care that a government organization or individual owes people and planet.

Taking this into account Monsantos view on social responsibility cannot be beneficial for the society because the consequences of such strategies as the one offered by Friedman are destructive. In the narrow business view or economic view corporations contribute to society by making a profit which supports employment wages purchase investments and taxes. Environmental Corporate Social Responsibility.

This is the most common form of corporate social responsibility many companies focus on this type of CSR efforts which focuses on reducing their hazardous impact on the environment. As it applies to business social responsibility is known as. Environmental philanthropic ethical and economic responsibility.

Social responsibility implies corporate enterprises should follow business ethics and work for not only to maximise their profits or shareholders value but also to promote the interests of other stakeholders and the society as a whole. Corporate social responsibility CSR refers to the moral and ethical efforts made by a company for the betterment of society in some way. Classical View of Social Responsibility.

If you are in the luckiest of 1 of humanity you owe it to the rest of humanity to think about the other 99 said Warren Buffett. Two contrasting philosophies or models define the range of management attitudes toward social responsibility. Opinions about businesss social responsibilities lie mainly between two extremes.

Maximizing Profits Phase 1800-1920 At this stage the primary responsibility of company is to maximize profits and the trend towards pure self-interest and raise the logo of what is good for me is good for the country 2 Second phase. There are various types of social responsibilities that can be served by the corporates. Social responsibility means that individuals and companies must act in the best interests of their environment and society as a whole.

Types of Corporate Social Responsibility. Types of Social Responsibility. Others argue that it is nothing more than superficial window-dressing or greenwashing.

One of the most controversial issues that has been widely debated over the last two decades is the corporate social responsibility of organizations. But business decisions are made within the company. 16 Examples of Social Responsibility.

In contrast the consequences of the strategy opposite to Friedmans are positive. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. The economic and the socioeconomic model.

It can also be termed as the continuing commitment by business firms to behave in an ethical manner and contribute to economic development while at the same time. The corporation a possession of the community rather than of individuals holds a social contract with society from which it. Corporate social responsibility is traditionally broken into four categories.

Opinions on Corporate Social Responsibility1 JAMES E. At the one extreme is the classical view that states business is an economic institution directed towards profit whose only responsibility to society is to provide goods and services and to return maximum benefits to shareholders Robbins Bergman Stagg and Coulter 2003.

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