Running Head: BUSINESS ETHICS
Corporate Social Responsibility
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Corporate Social Responsibility
Corporate Social Responsibility (CSR)
The Corporate Social Responsibility (CSR) has acquired extensive interest throughout the previous decades, even though, it is not an innovative concept, and it certainly dates back to the early years of 1930, as stated by Eric Orts, University of Pennsylvania. Prior to the World War II, the industrialists of Germany, Walter Rathenau, declared that the corporations have turned out to be huge and that they have developed to be an important part of the community or the society. As said by Walter Rathenau, although a corporation significantly intends to pursue the personal and individual interests and revenues for the owners or the leaders of the corporation they progressively bear the mark of a responsibility and to a growing degree, have consistently assisted the private interest of individuals. Moreover, philosophers such as James H. Tufts and John Dewey, explained in their book ‘Ethics’ published in the year 1908, they promoted the idea that is not adequate to sight the corporations as a virtuous economic machine and that corporations are supposed to be included in the duties and responsibilities of the general public or individuals privately.
Sustainability and Corporate Social Responsibility
The concept of Corporate Social Responsibility (CSR) is not static. This concept remains in motion and its target continues to evolve, as stated by Norine Kennedy of the U.S. Council on International Business. As per the statement of Kennedy, a concrete and pure definition for CSR does not exist. On the contrary, this term is not used in place of the role and responsibilities that a state government has to confront in order to maintain a sustainable growth and expansion of an economy. The concept of a sustainable growth in the endorsement of a business is rapidly increasing in a number of directions. A number of individuals comprehend the concept of corporate responsibility by means of the concept that what directions shall the corporation follow beyond the description of law. Some individuals also think that, this concept should be authorized legally at the domestic or international level; individuals again acquire the significance that already exists to perform it, as explained by Kennedy. However, the scope of corporate responsibility fluctuates state by state, district by district, and interest group by interest group. At the least stance, it involves the issues that concern the environment but it also considers the governance, social, health, ethical and certain other problems. Probably, it is an extensive concept to protect and it is a challenge for the community of different businesses to work accordingly in order to maintain the environmental ethics.
Corporate Social Responsibility in the Context of Regulation Orts explained, corporate social responsibility (CSR) is considered to be the point of reference to the business ventures that declares that an organization encompass more than merely being responsible and accountable to the leaders and shareholders of the business enterprise in order to maintain a sustainable economy. It is certainly considered to be the social body that involve ethical obligations and the significance that goes above the legal and official compliance and its complete requirements. Most of the people in a society, and particularly the inhabitants of the business community do not consider CSR to be a good idea. For instance, Orts observed that Milton Friedman is well known for mentioning that corporate social responsibility (CSR) shall not be implemented, for the reason that, the restraints has to be provided by the government, so an organization can augment its earnings and revenues to the maximum extent. However, the...
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