1. Introduction Social responsibility of business has been a subject of intense controversy and interest over the past four decades (Jamali 2008). The purpose of this paper is to critically analyze the two different views of social responsibility of business among scholars and business practitioners. The first is the shareholders view of Milton Friedman and another one is the stakeholder view of Bob Dudley‚ Group Chief Executive of BP Corporation. I will outline key arguments and point out drawbacks
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Corporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made. Definitions of corporate social responsibility can be somewhat varied depending on the perception
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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)
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Living Dangerously in Two Worlds In my paper I will be discussing the topics related to corporate social responsibility. Corporate social responsibility (CSR‚ also called corporate responsibility‚ corporate citizenship‚ and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers‚ suppliers‚ employees‚ shareholders‚ communities and other stakeholders‚ as well as the environment. This obligation
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developing a model of theory and modern examples‚ we can found out clearly that corporate social responsibility (CSR) does help enhance organization’s competitive advantage so as to achieve an organizational success. Model of thinking Corporate Social Responsibility Positive Social Change Employee Commitment Competitive Advantage Organizational Success Corporate Social Responsibility Positive Social Change Employee Commitment Competitive Advantage Organizational Success The above
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CO-OPERATE SOCIAL RESPONSIBILITY Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades‚ however‚ it has become of increasing concern to the business world. This has resulted in growing interaction between governments‚ businesses and society as a whole. In the past‚ businesses primarily concerned themselves with the economic results of their decisions. “Today‚ however‚ businesses must also reflect on the legal‚ ethical‚ moral and social consequences
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Kent has to deal with some ethical and possibly legal issues in the marketing of his game “Lucky”. Ethically he has to figure out if it is acceptable to market a game that focuses on nudity‚ violence‚ and gambling. As far as legal issues‚ is it legal to market these things in foreign countries and even online. If they can market this game in other countries they will have to change portions of the game for each of the countries that Brad has looked into targeting. Kent has basically two options
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One of the main ethical dilemmas that a store manager working for Wal-Mart might be faced with is a conflict of interest. He/she has been placed into a situation where there is no right or wrong answer‚ but rather a right‚ and right answer. Does he choose the role of being a good manager‚ and risk the managerial position? Or does he act upon the “unethical” commands of his superiors in favor of keeping his job? Three underlying elements further complicating his decision to make ethical choices are
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Economics Research – June 2012 Volume 10‚ Number 6 Brand-Consumer Relationship And Corporate Social Responsibility: Myth Or Reality & Do Consumers Really Care? Elias G. Rizkallah‚ Ph.D.‚ La Sierra University‚ USA ABSTRACT Companies are claiming that they are being challenged to maintain profitability and behave in socially responsible ways. The question is how much “the social responsibility” is a real pressure. Do consumers really know what the companies‚ producing their favorite brands
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Ethics Essay ETH/316 - Ethics and Social Responsibility July 17‚ 2013 Deborah Josephs Virtue theory differs from the two other normative theories‚ utilitarianism and deontology; it focuses primarily more on the individual‚ and their characteristics; whereas the other two focus more on your actions. Virtue ethics encompasses how we should be and which virtues we should acquire. Deontology and utilitarianism is an expression of what we should do‚ and this differs from personal yearnings and
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