Is it the job of corporations to be socially responsible, or, does the social re

Question

Is it the job of corporations to be socially responsible, or, does the social responsibility of a company consist of maximizing shareowner wealth? will initiatives such as shareholder democracy, employee rights, corporate citizenship, cause-related marketing, consumerism, sustainability, green" technology and strategic alliance with stakeholders increasingly affect business decision-making? what are some attributes of a "good" corporation? can a company's commitment to causes increase its profits?

Explanation / Answer

The basic idea of any business that is done is to raise or increase profit ,improve wealth and there by upgrade the economic status of either an individual or a group of shareholders.The goals and objectives are the pathways for the growth of the organization. To be practically honest no organization is started just to be a socially responsible entity.on the other hand in between the gradual growth of an organization it incorporates corporate social responsibility to prove its contributions towards the society.

1.Corporate social responsibility of an organization prove that it has to pay something to the society from which it has earned a lot directly or indirectly.

2.Giving a share of the profit to the needy in the society is a part of corporate social responsibility but it also includes the active participation of the employees who are directly connected with it.

Business decision making is definitely affected by initiatives such as stakeholder democracy, employee rights,corporate citizenship,cause related marketing, consumerism, sustainability and green technology because all these are major causes in the long term sustainability of business in the society. People expect that company shows some of these aspects in their production and business that indirectly or directly contributes to the well being of the globe.

Attributes of a good corporation are

There are various attributes of a good corporation because good has different meaning among individuals.On the whole good can be take as something that moves towards positiveness.A few common good attributes are

1.Honesty and integrity -The basic nature of an organization should be honesty and integrity that should reflect on all its actions.

2.Responsibility -The organization should hold the responsibility of its employees ,stake holders, customers etc.Holding responsibility makes them move forward without hesitation.

3.Attitude and ethics- These are crucial factors In a business .The culture and ethics inside or surrounding the business aspects should be healthy and good.

4.Cooperation among the management and the employees should be present for a efficient work culture.

5.Corporate social responsibility- what is the company giving in return to the society in which it nurtures is a mammoth question these days.

Definitely a company's commitment to causes increase its profits.When witnessed out in the society about the causes it turns the attention of more customers towards it which in turn increased its profit.

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