¶ … Companies Do Enough for Society by Simply Adding to the Economy or Should Businesses Also Attempt to be Socially Responsible
This work in writing will consider the pros and cons of businesses being socially responsible in society. Towards this end, this study will examine the literature in this area of inquiry.
Defining Socially Responsible Behavior
Socially responsible behavior on the part of a business is defined as the business's "obligation to maximize its potential impact and minimize its negative impact on society." (McGraw-Hill, nd, p.39) Kokemuller (2008) states that one of the "foundational elements of CSR [corporate social responsibility] is that it cause companies to reason beyond basic ethics to consider the benefits of active involvement in communities." (p.1)
Pros and Cons of Corporate Social Responsibility
One stated pro-of corporate social responsibility is that it motivates employees. The premise of the company obligation to this group of stakeholders in relation to compliance with corporate social responsibility is stated as being that the most valuable asset of the company are its employees. This is stated to mean "treating employees with respect and offering fair working conditions." (Kokemuller, 2008, p.1) In addition, it means "establishing fair hiring practices and promoting a non-discriminatory workplace." (Kokemuller, 2008, p.1)
Stated as a con to corporate social responsibility are the expenses the company incurs towards this goal. For example, it is reported that with CSR the company incurs expenses...
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