Corporate Social Responsibility
Corporate Social Responsibility
MBA 688
Jurtyne R. Youngblood
December 13, 2014
The social responsibility of corporations. It pertains to consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with the traditional economic gains that the firm seeks. The corporate responsibility of firms have been put to the side by managers, today the issues are now first on the corporate agenda (Peng, p. 363). A firm’s first responsibility should be first to the stakeholders. Stakeholders are any person that can affect or be affected by the company success or failures. Firms are not obligated to be social agencies but it would be in their best interest to give back to the communities they reside. Many firms are successful due to the people in their communities buying their products and services. When it comes down to the debate weather firms should get involved with CSR is a debate. Milton Friedman, a former University of Chicago economist and Nobel laureates argued “The business of business is business.” Businesses shouldn’t be morally neutral but doing business is a great opportunity to do some good and bring glory to God through its contributions. It would be in a firm’s best interest in the long run to reinvest some profits in the host country. I’ve was always told that people don’t want to know how much you know, until they know how much you care. The host country are not always developed countries to give back to the local people to help better their lives in any way is rewarding. Everything in the host country shouldn’t be address because the firm couldn’t solve all of their problems but to focus on one problem would be a start. If a firm fail to do anything is frown upon, to be active is expected by the host country. MNE should not pay bribes or render improper benefits to public servants. Bribes given to suggest favors are unacceptable and
MBA 688
Jurtyne R. Youngblood
December 13, 2014
The social responsibility of corporations. It pertains to consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with the traditional economic gains that the firm seeks. The corporate responsibility of firms have been put to the side by managers, today the issues are now first on the corporate agenda (Peng, p. 363). A firm’s first responsibility should be first to the stakeholders. Stakeholders are any person that can affect or be affected by the company success or failures. Firms are not obligated to be social agencies but it would be in their best interest to give back to the communities they reside. Many firms are successful due to the people in their communities buying their products and services. When it comes down to the debate weather firms should get involved with CSR is a debate. Milton Friedman, a former University of Chicago economist and Nobel laureates argued “The business of business is business.” Businesses shouldn’t be morally neutral but doing business is a great opportunity to do some good and bring glory to God through its contributions. It would be in a firm’s best interest in the long run to reinvest some profits in the host country. I’ve was always told that people don’t want to know how much you know, until they know how much you care. The host country are not always developed countries to give back to the local people to help better their lives in any way is rewarding. Everything in the host country shouldn’t be address because the firm couldn’t solve all of their problems but to focus on one problem would be a start. If a firm fail to do anything is frown upon, to be active is expected by the host country. MNE should not pay bribes or render improper benefits to public servants. Bribes given to suggest favors are unacceptable and
References: Holy Bible Peng, M.W. (2009). Global Strategy (3rd. ed.) Mason, Ohio: South-Western Cengage Learning Rae, Scott B., and Kenman L. Wong (2004) (2d ed.). Beyond Integrity. Grand Rapids, MI: Zondervan. Ruddell, L., (2004) Business Ethics Faith That Works. Halcyon Press: Houston TX