Do a firm’s ethical responsibilities extend beyond maximization of profits? NO D
ID: 396764 • Letter: D
Question
Do a firm’s ethical responsibilities extend beyond maximization of profits?
NO
Do a firm’s ethical responsibilities extend beyond maximization of profits?
YES
Democracies have a process for deciding which of the countless potential good deeds a community will pledge to do. Tax money is never bountiful enough to satisfy our human desire to assist one another. We must pick and choose which needs to meet and which to postpone for another day. But the point is that we make these decisions AS A COMMUNITY.
When a corporation takes it upon itself to use money it earned by charging consumers a price for a good or service, that firm is seizing the role of government BECAUSE IT CAN. No community has ceded the right to make social decisions to the corporation. Instead, the firm uses its powers to spend the community’s money AS THE CORPORATION SEES FIT. This behavior is an affront to democracy and basically says to the community, “we know best what the community’s priorities should be.
Review the Point/Counterpoint. Do you agree with the Yes or No position? Why? Why don't you agree with the other one?
Do a firm’s ethical responsibilities extend beyond maximization of profits?
NO
Do a firm’s ethical responsibilities extend beyond maximization of profits?
YES
The basic purpose of a business firm is to provide a service or product to consumers that makes profits for its owners. Capitalist theory depends on the incentive of the profit motive as a guarantee that firms will meet the desires of consumers. Please those consumers, and the market is an outstanding institution. Displease them, and a company goes out of business. This sanitizing process relies on the assumption that firms will seek to maximize profits. When firms decide for themselves that they will have goals that conflict with profit maximization, they undercut the meaning and the benefits of capitalism Communities have dozens of needs that, when met, assist citizens in flourishing. What sense does it make to take an important sector like corporate America and deny them the opportunity to assist in meeting these needs. When a computer firm decides to enhance the educational mission of the town where it produces its products by giving computers to the local schools, it does so in an environment where schools are often pinched for funds. Those students need computers, and we would take them from anyone who is kind enough to provide them.Democracies have a process for deciding which of the countless potential good deeds a community will pledge to do. Tax money is never bountiful enough to satisfy our human desire to assist one another. We must pick and choose which needs to meet and which to postpone for another day. But the point is that we make these decisions AS A COMMUNITY.
When a corporation takes it upon itself to use money it earned by charging consumers a price for a good or service, that firm is seizing the role of government BECAUSE IT CAN. No community has ceded the right to make social decisions to the corporation. Instead, the firm uses its powers to spend the community’s money AS THE CORPORATION SEES FIT. This behavior is an affront to democracy and basically says to the community, “we know best what the community’s priorities should be.
Business firms are major citizens. They require utilities, roads, airports, police, sewage systems, power plants, and fire protection. These services impose heavy costs on the community. Firms, like other citizens, have a responsibility to assist in paying for these public services. Their tax payments certainly serve this purpose. But from the community’s perspective, shouldn’t citizens of all kinds be encouraged to give back to their communities as often and as generously as they are willing to provide? If firms have so many excess profits that they can become a “good deeds” agency as well as a business firm, they should honor their true role and lower prices so more consumers can buy their products. By being what they claim is socially responsible, they are implicitly taxing their consumers who pay for a good or service AND then an extra fee for the firm to do what it designates as our top social priorities. Applauding the social responsibility of firms when they give back to their communities strengthens the ties of the firm to that community. A sense of mutual respect blooms between the corporation and the community where so many of its managers and workers have agreed to live.Explanation / Answer
Definitely companies have responsibilities that directly extend above their maximization of profits in the ethical standards. If a company is working in a society then they should be focusing on creating betterment of the organisation it does not matter if the specific company is losing the overall profit are creating huge differences in the prophets in the specific community or in the operative environment.
Expanding social responsibilities beyond their operational capability is definitely increases the overall availability of positive standards for operation for an organisation. It shows the level of ethics involved in operation of the specific organisation such as many organisations expanding their social responsibility program or fundings by a great margin just to comply with the standards of needs in the specific region of operation. Showing positivity in terms of providing help to the society is definitely a better approach of creating a more effective influence or following the effective influencing approach in the specific environment.
Definitely encouraging citizens of the community or society should be encouraged to provide their contribution in development of a better livinghood. This is specific type of approach for creating a better environment for living would only benefit them as the quality of life would be extended by a huge margin providing better living quality standards to the people rather than focusing on betterment of the specific communities. Bigger organisations can focus on donating or developing more and more resources for the society which could be very beneficial as an extension of there overall social responsibility for increment to be implemented in to the organisation or in the society maintaining better approach of operation of following ethical perspective.
When an organisation shows high ethical standards then it receives the same response from the society as well. Maintaining connections with the society and investing in betterment of the society is it definitely a positive approach that an organisation should follow to create a better equilibrium between the responsibility and responses from the society for maintenance of affirmative environment of operation with the help of collaboration with the society. Definitely this approach increases the reliability of the specific Organisation in the eyes of the society and provides a better business opportunity as well as relationship probability with the communities in which the organisation is operating.
Limiting any organisations overall approach for just a guideline based ethical responsibilities is not appropriate as it directly acts against the basic factor of operating in such a specific community environment where availability of other options as well as a lining with the standards of the community and extension is definitely much preferred than just focusing on the written rules and regulations for a complying with the standards of the society.
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