Social Responsibilty
Social Responsibility
Ericka Johnson
MGMT312-H3WW
Sally Rogers
As it states in the business dictionary social responsibility is defined as The obligation of an organization 's management towards the welfare and interests of the society in which it operates. This definition contradicts what is stated by Milton Friedman. He says that “The social responsibility of a business is to increase its profits.” As consumers many people have different views on what the social responsibility of a business should be. In this paper I will discuss some examples of businesses that are dedicated to their social responsibility of their society. Milton Friedman’s statement is a reflection of what many people see wrong with a lot of businesses and corporations. There are many companies that operate on planned obsolescence, which means it is a policy to design a product that has limited useful life and will soon be obsolete shortly after it is sold. Things like this is what pushes Friedman’s idea that the responsibility the business is only to increase its profits. Also with the economy and the job market being the way it is, the companies have the upper hand. Even though there are many people out of work the amount that Americans are consuming is at an all-time high. Along with that because people are eager to work companies can underpay the newer staff while working to get rid of the older higher paid staff. If all the company cares about is the bottom line then their number one priority is themselves and it comes at the risk of us.
As it is defined in the business dictionary it is the welfare and interest of the society they operate in is the company’s responsibility. A business their social responsibility should be to create quality products for their consumers, providing great customer service, and giving the customer an all-around great experience when dealing with the company. Giving back to the community would also add to the company’s social
Ericka Johnson
MGMT312-H3WW
Sally Rogers
As it states in the business dictionary social responsibility is defined as The obligation of an organization 's management towards the welfare and interests of the society in which it operates. This definition contradicts what is stated by Milton Friedman. He says that “The social responsibility of a business is to increase its profits.” As consumers many people have different views on what the social responsibility of a business should be. In this paper I will discuss some examples of businesses that are dedicated to their social responsibility of their society. Milton Friedman’s statement is a reflection of what many people see wrong with a lot of businesses and corporations. There are many companies that operate on planned obsolescence, which means it is a policy to design a product that has limited useful life and will soon be obsolete shortly after it is sold. Things like this is what pushes Friedman’s idea that the responsibility the business is only to increase its profits. Also with the economy and the job market being the way it is, the companies have the upper hand. Even though there are many people out of work the amount that Americans are consuming is at an all-time high. Along with that because people are eager to work companies can underpay the newer staff while working to get rid of the older higher paid staff. If all the company cares about is the bottom line then their number one priority is themselves and it comes at the risk of us.
As it is defined in the business dictionary it is the welfare and interest of the society they operate in is the company’s responsibility. A business their social responsibility should be to create quality products for their consumers, providing great customer service, and giving the customer an all-around great experience when dealing with the company. Giving back to the community would also add to the company’s social
Bibliography: What is social responsibility? definition and meaning. (n.d.). Retrieved from http://www.businessdictionary.com/definition/social-responsibility.html Planned Obsolescence Definition | Investopedia. (n.d.). Retrieved from http://www.investopedia.com/terms/p/planned_obsolescence.asp Chick-fil-A: Chick-fil-A Company Facts and Highlights. (n.d.). Retrieved from http://www.chick-fil-a.com/Company/Highlights-Fact-Sheets