The Issue Of Corporate Social Responsibility Essay

The issue of corporate social responsibility has recently been the subject of much debate. These debates pose the question â€Å"What responsibilities, if any, do corporations have to society and the greater good?† From a legal standpoint the answer to that question is none. Legally, corporations have no responsibility to participate in any type of social responsibility, in fact, doing so is illegal and can lead to directors and corporate officers being sued by shareholders. Although the specific law varies from jurisdiction to jurisdiction, the general idea is always the same, corporations are only responsible for making the greatest profits for their shareholders. For example, In Maine, Section 716 of the business corporation act reads in part: †The directors and officers of a corporation shall exercise their powers and discharge their duties with a view to the interests of the corporation and the shareholders.† (qtd. In The Humanist). The opposition to these vie wpoints believe however that the action of corporate executives participating in social responsibility will in fact not only benefit the community and the general public, but in the long run, the corporation itself along with its shareholders. Many believe, as do I, that as a society we are more likely to engage in business with corporations who give back to its consumers and who concern themselves with the betterment of our society and the world as a whole, and in turn the result for these corporations is largerShow MoreRelatedEnvironmental Issues in Africa and The Role of Corporate Social Responsibility1984 Words   |  8 Pagespollution, and land and water pollution. This issues is as a result of new technologies leading to an increase in solid mineral mining, oil exploration, an increase in the number of plants and factories, and on the whole increase in the application of manufacturing tools. Consequently, the quality and richness of terrestrial, freshwater, and marine enviro nments have been polluted and has declined. 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Today, many organizations have realized the importance of corporate social responsibility (CSR) in response to consumers and stakeholders becoming more mindful of social issues. Corporate social responsibility has continued to change and grow. It can be difficult to define CSR because it takes on a variety of social, ec onomic, political and environmental formats depending on the business. Corporate socialRead MoreCorporate Social Responsibility ( Csr )863 Words   |  4 Pagestechnology in the last century. The term of Corporate Social Responsibility appears more often into public’s concerned and it has become a hot issue in recent years. This essay is going to discuss and provide an overview of corporate social responsibility (CSR) by debate some key issue in this area. 1.2 What is Corporate Social Responsibility? In 1953, Bowen’s Social Responsibility of the Businessman firstly discusses the idea of corporate social responsibility. He states the relationship between societyRead MoreVolvo : Corporate Social Responsibility1155 Words   |  5 Pages Volvo in Corporate Social Responsibility. Avinash Adapa(1678167) Prof Eleni P.Mylonas EPS 8R Fairleigh Dickinson University DATE: 09-27-2014 Abstract Corporate Social Responsibility means their responsibility towards the community and the environmentRead MoreWhat Does Corporate Responsibility Mean1518 Words   |  7 PagesWhat Does Corporate Social Responsibility Mean? Corporate initiative to assess and take responsibility for the company s effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups.  Ã‚   Corporate social responsibility may also be referred to as corporate citizenship and can involve incurring short-term costs that do not provide an immediate financial benefit to theRead MoreViews on Corporate Social Responsibility Essay1005 Words   |  5 Pages Corporate Responsibility While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, â€Å"A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and