Online Gambling and Social Responsibility
Social Responsibility of the Online Gaming Industry
The Gaming Industry does not escape as any other industry in acting responsibly and being sensible to the society in which it operates. Since the early 50s and 60s when the gaming industry was targeted and tagged as one controlled by criminals, and as cited earlier in this paper, the industry has been regulated constantly to prevent customers to be the target and profit and limit the expansion of the gambling criminal activities.
But with the constant regulatory eye of the government, how can’t the gaming industry act as any other where the main purpose of business activity is the creation of profits? In an attempt to portray the main and traditional intention of a business, Cavico explains that a corporation main purpose in our society is the profitable production and distribution of goods and services (Cavico, 2009). In fact, that is how corporations invest money in a business opportunity to create profits, and gradually based on the market and business condition, look for an expansion of their operations in the search for more opportunities and profits. The online gaming industry, domestic or international, has this intent as their main purpose of existence.
Exploring the social responsible side of corporations, John Bussey in a Wall Street Journal article, introduces a justification why companies would benefit from adopting the social responsible side, by mentioning Starbucks’s CEO, Howard Schultz in promoting corporate social responsibility in companies. Also, the article also compares Mr. Schultz’s viewpoint with Milton Friedman’s position. Mr. Friedman said that "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 of the game." However, Mr. Schultz’s corporate social responsible movement states in contrast that "companies that hold on to the old-school, singular view of
The Gaming Industry does not escape as any other industry in acting responsibly and being sensible to the society in which it operates. Since the early 50s and 60s when the gaming industry was targeted and tagged as one controlled by criminals, and as cited earlier in this paper, the industry has been regulated constantly to prevent customers to be the target and profit and limit the expansion of the gambling criminal activities.
But with the constant regulatory eye of the government, how can’t the gaming industry act as any other where the main purpose of business activity is the creation of profits? In an attempt to portray the main and traditional intention of a business, Cavico explains that a corporation main purpose in our society is the profitable production and distribution of goods and services (Cavico, 2009). In fact, that is how corporations invest money in a business opportunity to create profits, and gradually based on the market and business condition, look for an expansion of their operations in the search for more opportunities and profits. The online gaming industry, domestic or international, has this intent as their main purpose of existence.
Exploring the social responsible side of corporations, John Bussey in a Wall Street Journal article, introduces a justification why companies would benefit from adopting the social responsible side, by mentioning Starbucks’s CEO, Howard Schultz in promoting corporate social responsibility in companies. Also, the article also compares Mr. Schultz’s viewpoint with Milton Friedman’s position. Mr. Friedman said that "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 of the game." However, Mr. Schultz’s corporate social responsible movement states in contrast that "companies that hold on to the old-school, singular view of
References: Cavico, Frank J., and Bahaudin G. Mujtaba. Business Ethics: The Moral Foundation of Effective Leadership, Management, and Entrepreneurship. New York, NY: Pearson Custom Publishing, 2009. 12, 162-169 Friedman, Milton (1970). The Social Responsibility of Business is to Increase its Profits. New York Times. Retrieved from ttp://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html. Accessed on 2 September 2012. Bussey, John (October 2011). Are Companies Responsible for Creating Jobs? Wall Street Journal (Online), pp. n/a-n/a. Retrieved from http://online.wsj.com/article/SB10001424052970204505304577001930473006096.html?mod=WSJ_business_LeftSecondHighlights. Accessed on 2 September 2012. Griffits, Mark D. and Parke, Jonathan (2002) The Social Impact of Internet Gambling. Nothingham Trent University, Department of Political Science. Retrieved from http://www.eou.edu/~jdense/griffithsparke.pdf. Accessed on 06 August 2012. Harvard Health Publications, Harvard Mental Health (March 2004). Problem Gambling. Retrieved from http://www.health.harvard.edu/newsweek/Problem_gambling.htm. Accessed on 24 August 2012. National Council on Responsible Gambling (2012). Public Education and Outreach. Retrieved from http://www.ncpgambling.org/i4a/pages/index.cfm?pageid=4492. Accessed on 07 September 2012. American Gaming Association (2012). Social Responsibility. Retrieved from http://www.americangaming.org/social-responsibility. Accessed on 07 September 2012.