24 April 2006
© 2006 Business Recorder. All Rights Reserved.
The above statement is a reflection of the changing role of business. Whereas for Milton Friedman a few decades
back the business of business was business for Anita Roddick today the business of business is responsibility.
The changing role of business has serious implications for Pakistani businesses. The main aim of businesses in
Pakistan has always been profit maximisation. Now due to the increasing pressure of western consumers, media
and local NGOs as well as globalisation Pakistani businesses have been forced to think about whether they need to
look beyond profit maximisation. Our fish sector is at crossroads.
The carpets and sports sector despite the best efforts of business community and the government of Pakistan still
have to do a lot of work to overcome the reputation damage caused by the child labour issue. The business
community has been criticised for polluting natural resources like air and water. Our textile and leather industries
have lost lucrative contracts to EU consumers due to non-availability of effluent treatment plants and waste
disposal management systems. All these issues have resulted in a number of questions being asked.
A question commonly asked at different discussion forums is that can our industries create waste that damages
the health of our citizens and not be responsible to the citizens? Can our industries deprive us of natural resources
like water or pollute water and not even acknowledge the damage to water? Do the businesses have no role in
promoting education among our masses?
The business community of Pakistan has answered these questions by undertaking certain corporate social
responsibility initiatives like donating money to earthquake victims and various charities. These activities which
can be classified as community investment or corporate... [continues]
Cite This Essay
(2007, 06). Corporate Social Responsibility. StudyMode.com. Retrieved 06, 2007, from http://www.studymode.com/essays/Corporate-Social-Responsibility-117804.html
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"Corporate Social Responsibility." StudyMode.com. 06, 2007. Accessed 06, 2007. http://www.studymode.com/essays/Corporate-Social-Responsibility-117804.html.