The paper “ The Growing Concern over Business Responsibility” is a forceful example of the case study on management. In the world we live in today, corporate social responsibility (CSR) has become part of many organizations although some are yet to embrace it. Students, managers, and employees are interested in CSR and how it affects the society thereby creating increasing interest by the business community and the media. The relationships between business and society have been studied for decades with outcomes being influenced by the existing economic paradigm at a specific point in time.
If the idea that business has duties towards society, and more specifically towards identified constituents - the stakeholders, is widely acknowledged, it is only since the 1950s and 1960s that society’ s expectations have radically changed, that is, increased. The duties of business towards society have been referred to as corporate social responsibility (CSR). As Milton Friedman puts it, “ 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, which is to say, engages in open and free competition without deception or fraud (Schwartz and Saiia, 2012).
In contrast to Milton’ s idea was Jones (1980) who was of the idea that “ Corporate social responsibility is the notion that corporations have an obligation to constituent groups in society other than stockholders and beyond that prescribed by law and union contract. ” It’ s on this basis – whether CSR benefits the organization compared to other stakeholders-that this discussion is based on. For instance, the Avatar movie focused on the purpose of the corporation and its obligations toward a society with respect to the displacement of indigenous people in order to extract valuable resources (Schwartz and Saiia, 2012).
Corporate social responsibility provides greater benefits to the organization than it does to society and other stakeholders.
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