corporate social responsibility

Topics: Social responsibility, Corporate social responsibility, Sustainability Pages: 4 (1295 words) Published: September 22, 2013
CORPORATE SOCIAL RESPONSIBILITY

CSR responsibilities that are analogous to those of other members of the moral community, and these responsibilities fall into four groups:  1. Economic Responsibility
2. Legal Responsibility
3. Ethical Responsibility
4. Philanthropic Responsibility
Economic Responsibility 
responsibility of a business to make money. "Required by simple economics, this obligation is the business version of the human survival instinct. Companies that don’t make profits are—in a modern market economy—doomed to perish. "2 So, as long as we believe that the business ought to exist, it must be allowed to try and make a profit. Otherwise, we are condemning it to death.  Shareholder wanting dividend /capital gain

Employee want fair employment
Customer wanting good quality products.
Legal Responsibility 
Responsibility to obey the letter and the spirit of the law. This is not just the obligation to follow the law as it is written, but "this obligation must be understood as a proactive duty. That is, laws aren’t boundaries that enterprises skirt and cross over if the penalty is low; instead, responsible organizations accept the rules as a social good and make good faith efforts to obey not just the letter but also the spirit of the limits."3 Many corporations have broken the rules when the profits that they stand to gain are much higher than the penalties that they might have to pay for breaking the rules. According to this responsibility, they must not do so, because they are required to view obeying the law as something that creates the best results for everyone.  Ethical Responsibility

Responsibility to do the right thing even when neither the spirit nor the letter of the law apply to the situation. This is a key obligation, and it requires the firm to act as any other citizen must. We might make references to the Good Samaritan or to handing our change to someone who asks for it on the street, but the core of the responsibility is...
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