The paper “ Social Responsibility of Management - an Imperative Developmental Concept in the Market” is a meaningful variant of essay on the management. International organizations have increased market competition challenges. In this case, organizations have increasingly sought to establish strategies through which to increase their overall market competitiveness. Among them was the adoption of the social responsibility approach in management. Management social responsibility can be described and defined based on two theoretical approaches namely the classical and the social approaches. On one hand, the classical theory was the traditional business management approach.
In this case, the theory argued that organizations’ management has an obligation and social responsibility to the organizational shareholders. In this case, the responsibility lies in the role of profit maximization. However, the development of the sociological approach to management expanded an organizational management social responsibility scope. In this case, the theory held that organizations have increased social responsibility not only to the shareholders but also to the society at large. In this regard, the organizational managements have an increased responsibility in ensuring societal well being and success (Sims, 2003).
Therefore, in the current global context, the social responsibility of the management ranges from shareholder value maximization to society's well-being enhancement. BenefitsThe adoption of social responsibility practices has increased merits to the overall organizational performance and eventual success. On one hand, the adoption enables the increased organization and consumers’ relationship development. Sanrego and Antonio (2013) conducted a study to evaluate the role of organizational social programs n a society. The society sought to establish if the adoption of a social responsibility program and market approaches increased the overall organizational success rates.
In this case, the study developed a hypothesis that the industry was largely influenced by the presence of these social practices. In its analysis, the study established that organizations have increased success rates as a result of the adoption of these approaches. One of the benefits of developed customer relationships is an increased organizational reputation in the market. Carter (2007) conducted a study to evaluate the business performance implications of increased customer relationships. In this case, the study sought to reveal if these existed a relationship between developed customer relationships and reputation in the market.
The study revealed that increased customer relationships increased overall consumers' trust in an organization. It is human nature to develop trust towards individuals demonstrating concern and care. In this case, human beings feel safe and valued by such established relationships. Therefore, they develop trust and lasting ties with the involved parties. This is the case in the consumer market. Customers develop a buying behavior decision-making model. The decision making process is a sequential process with five distinct stages namely the need identification, information search, alternative's evaluation, purchase, and post-purchase stages.
In this case, the adoption of social responsibility programs has diverse implications on consumers buying decision-making process. In this case, the organizational consumer base trust creation implicates on the information search, alternatives evaluation, and post-purchase decision-making stages. As such, the organizations face increased market success rate as the consumers are inclined to search for information related to the organizational products, choose the organizational products alternatives and develop subsequent repurchases decision.