Corporate Social Responsibility versus Profit Maximization Introduction Nowadays‚ many large multinational corporations which occupy increasing shares in the market and high statues in the society are usually powerful in having both positive and negative effects on the public to a great extent. As a consequence‚ today‚ the concept of Corporate Social Responsibilities (CSR) draws much more public attention. Social responsibility goes beyond profit making and social obligation. CSR is a business
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close down due to inefficient management thus making management an important tool in creating a successful organization. As reported by Fajardo‚ management basically deals with people to get the peak performance from them through effective and efficient management (1997). On the 1920’s a man named Frederick Taylor known as the father of scientific management who described management as a science with employees having specific but different responsibilities; encourage the scientific selection‚ training
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1. Introduction Social responsibility of business has been a subject of intense controversy and interest over the past four decades (Jamali 2008). The purpose of this paper is to critically analyze the two different views of social responsibility of business among scholars and business practitioners. The first is the shareholders view of Milton Friedman and another one is the stakeholder view of Bob Dudley‚ Group Chief Executive of BP Corporation. I will outline key arguments and point out drawbacks
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management on the part of the houses and creation of a more conducive operational environment by the regulatory authorities. The paper concluded by indicating that in the long run‚ the efficiency and competence of the houses in the discharge of their responsibilities would determine their relevance and survival rather than imposition of assigned areas of specialization through guidelines. 1. INTRODUCTION however‚ the emergence of discount houses as major operators in the money markets of some economies
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Corporate social responsibility – Milton Friedman versus Charles Handy Corporate social responsibility has been a controversy topic for many economists. Some think that a corporate does not have any social responsibility while others believe a corporate does have some social responsibility as it exists in the society and is using the resources of the society. Milton Friedman and Charles Handy are the two typical representatives for these two contrast ideas which are reflected through the two famous
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Introduction Corporate social responsibility (CSR) is concerned with the relationship between the corporate sector and society‚ and focuses on particularly good corporate citizenship. The World Business Council for Sustainable Development defines Corporate Social Responsibility as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large
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Corporate Social Responsibility CSR is a win- win opportunity for companies‚ financial investors and society at large * Corporate Social Responsibility * “CSR is about how companies manage the business processes to produce an overall positive impact on society.” Business has a responsibility to give it back to society * Corporate Social Responsibility Corporate social responsibility (CSR): * An obligation‚ beyond that required by the law and economics‚ for a firm to pursue
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CO-OPERATE SOCIAL RESPONSIBILITY Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades‚ however‚ it has become of increasing concern to the business world. This has resulted in growing interaction between governments‚ businesses and society as a whole. In the past‚ businesses primarily concerned themselves with the economic results of their decisions. “Today‚ however‚ businesses must also reflect on the legal‚ ethical‚ moral and social consequences
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views of each author as well as address the differences and similarities between the two texts. This paper will answer a number of questions‚ including: what are the views of each author in regards to socially responsible behavior‚ what are the ethical principals or theories the books address‚ how does each book address the concepts of ethical and unethical behavior‚ what are the general differences and similarities between both books‚ and how does each author’s viewpoint incorporate stakeholder
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Corporate Governance Emerald Article: Corporate socialresponsibility and labor turnover Donald F. Vitaliano Article information: To cite this document: Donald F. Vitaliano‚ (2010)‚"Corporate social responsibility and labor turnover"‚ Corporate Governance‚ Vol. 10 Iss: 5 pp. 563 - 573 Permanent link to this document: http://dx.doi.org/10.1108/14720701011085544 Downloaded on: 09-11-2012 References: This document contains references to 22 other documents Citations: This document has been cited
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