Social Responsibility
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Social Responsibility
Social Responsibility with Friedmans theory can be beneficial and unbeneficial to a corporation. Corporate Social Responsibility (CSR) is a description in a role that a company plays in serving many different stakeholders. It also is a role in which it supports for the society. “Milton Friedmans statement that a businesss social responsibility lies in making profit has shown a controversial point of view in modern business” (Lenkowsky, 2006, p. 46). “CSR activities focus often on the welfare of stakeholders groups other than investors, such as charitable and community organizations, employees, suppliers, customers and future generations (Bartkowiak, 2006). There are many ways that an organization can be socially responsible, such as environment, community, and their employees.
Our environment is important to us. We as the world are moving at unbelievable speeds. We are always looking for faster ways to do things. In the environment we should looks at opportunities to just follow the rules that are set forth by the government. We could look at waste dumps and how it gets into our water supply.
In the community our social responsibility is helping our neighbors. Companies that are planning new developments should take into consideration the effect that it will have on local economic and social patterns. Other ways that a business can promote social responsibility in the community are by participating in local charities and benefits.
The last and most important is social responsibility to employees. Employers that promote increased benefits and better working conditions have what it takes to become a great company. I believe that if companies show their employees that they care about them the employees will care more about the company.
Sure, social responsibility is not a forced issue and no one is there to make companies participate. But by being socially responsible, they enable themselves to gain support of the community, customer respect, and loyalty of employees. Large organizations, especially, have the means to make a great difference in our world. I think they should do so not because they should but because they can.