The Corporation’s Social Responsibility Essay Sample
Corporate social responsibility looks into what ways organizations operate focusing not only on their interests but also those of the society at large. It involves those initiatives that aim to benefit the entire community. In the world, some of the large corporations due to their economic power have great influence as compared to the national governments. As a result, the stakeholders expect a lot in terms of societal benefits due to the power they have. The company integrates both social and environmental concerns that lead to sustainability in the success of the business.
It is believed that the social responsibility idea was first adopted in the 20th century in the United States by business leaders. To enhance motivation, they built homes and hospitals for their staff that made working efficient for them. They emphasized more on involving stakeholders in the business-related decision-making, helping the needy, stewardship among others. Some of the stakeholders involved in a business environment include customers, employees, suppliers, competitors, communities among others.
Any socially responsible business should adopt strategies so as to balance the economic, legal and social obligations. It can be achieved by following the legal requirements set to be followed by any organization. In the past, the capitalism system is motivated by self-interest, profit maximization and mostly constitutes private institutions. However, social responsibility focuses on communal interests and the main goal being social welfare by providing equity and fairness to all members.
Frederick explains the Corporate Social Responsibility concept in four phases, and these are:
Corporate social stewardship, 1950s – 1960
The society at large is always obliged to handle or take care of the property as they were their own. The proper handling and management of resources would ensure that every other member benefits even, in the long run.
Corporate social responsiveness, 1960s – 1970s
It focuses on a firm’s actions and activities based on the needs of the society or community.
Corporate/ business ethics, 1980s – 1990s
Ethics is concerned with the societal norms, values and beliefs about right and wrong. It also looks at the principles, guidelines and conditions that influence the nature of morality.
Corporate/ global citizenship, 1990s – 2000s
Global citizenship refers to humankind being one. This means people identify themselves with a “global community” despite having an identity in a specific place.
As stated earlier, a business should meet its economic, social and legal obligations but the main problem is usually balancing the three. However the enlightened self- interest approach could be used where the firm’s actions benefit the society at large and guide businesses in giving service to various groups in the society.
The corporate social responsibility raises many questions, and it is a notion that is highly debatable. Some argue and say that the benefits include long-run profits, a good public image, and limited governance from the government and finally that businesses have resources and ethical obligation. Those against believe that it lowers business profits, increased business costs, increased social power for business, lack of public accountability and purpose of the business is diluted.
Maximizing social benefits is limited by the fact that the managers only consider only the shareholders interests are leaving out the stakeholders for this reason interfering with the long-term objectives and performance of the firm.
A social venture is a business that applies specific strategies to improve the human and environmental well-being. In any organization, the benefits corporation should be adopted to access the social and environmental performance standards. With this kind of system, the rich and the poor will be at the same level as fairness will be enhanced.
Lder, A. (2008). Corporate social responsibility Implementation in the German companies. Muchen: GRIN Verlag GmbH.
Osburg, T. (2013). Social innovation solutions for a sustainable future. Berlin: Springer.
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