Strategy of Corporate Social Responsibility

Topics: Social responsibility, Corporate social responsibility, Socially responsible investing Pages: 3 (815 words) Published: January 21, 2012
We all know that profit an enterprise earns is not only made by itself, but also by a result of the interaction between consumers, politics and the society environment of the enterprise being at. If an enterprise wants to operate in the long run, it needs to be concerned about the problem of its surrounding environment. Also, only a corporation which can shoulder responsibilities of society and obey the rule of ethic deserves to obtain support from the society. In this essay, I am going to discuss about whether if the strategy of Corporate Social Responsibility is relevant. The concept of Corporate Social Responsibility (CSR), like ethics, is easy to understand: it means distinguish right from wrong, and doing right. It means being a good corporate citizen. The formal definition of social responsibility is management’s obligation to make choices and take actions that will contribute to the welfare and interests of society as well as the organization (Szwajkowski, 1986: Davis et al., 1979). CSR is a kind of philosophic conception, it does not have tangible executive criteria and rules. A lack of the spirit of CSR, we cannot find the meaning and reputation of why this enterprise exists. Companies and people need profounder meaning of exist. Nowadays, CSR strategy is overall acceptable by the managers of every enterprise. However, there are numerous of people have been arguing about their different beliefs, many of the experts debate about CSR. Milton Friedman and others have argued that a corporation's purpose is to maximize returns to its shareholders, and that since (in their view), only people can have social responsibilities, corporations are only responsible to their shareholders and not to society as a whole. Milton Friedman have pointed out this in his book, Capitalism and Freedom: "There is one and only one social responsibility of business - to use its resources and engage in activities designed to increase its profits so long as it stays within the rules...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • The Business Case for Corporate Social Responsibility Research Paper
  • Csr
  • Corporate Social Responsibility Definition Essay
  • Corporate Social Responsibility Essay
  • Corporate Social Responsibility Essay
  • Corporate Social Responsibility Essay
  • Corporate Social Responsibility Essay
  • Corporate Social Responsibility Essay

Become a StudyMode Member

Sign Up - It's Free