Business carroll / corporate & society social / september responsibility 1999 corporate social responsibility evolution of a definitional construct archie b carroll university of georgia there is an impressive history associated with the evolution of the concept and definition of corporate social responsibility (csr. Define corporate social responsibility 2 describe and evaluate the economic model of corporate social o from the perspective of the narrow view of csr, only goals should be at the heart of every corporate mission 5-26. Philosopher norman bowie defended a modified version of this narrow view of corporate social responsibility the consensus that emerged was that society had two opportunities to establish business's environmental responsibilities. Question 16 5 out of 5 points some argue for the narrow view of corporate social responsibility on the ground that managers have a fiduciary responsibility to maximize the profits of their shareholders.
In his book, corporate responsibility and legitimacy, james brummer describes the four theories of csrby understanding these theories, we can analyze the csr work of specific corporations more carefully—see what they contribute to society and assess the strengths and weaknesses of their particular approach. Historically, a narrow view of corporate responsibility has been enforced whereby a corporation’s responsibility extends only to maximising profits in dodge v ford motor co 14 the michigan supreme. The narrow view is not only that they have none but that we are responsible for them, ie corporate bailouts with public monies this is not only pertinent in the way of government regulation (or deregulation) and corporate accountability for the recession, but also in terms of huge corporate.
The complete statement is rather broader and brings in a few elements of what is today considered to be integral parts of corporate responsibility -- ethics and integrity. Corporate social responsibility is defined in chapter 5 as the corporate duty to create wealth by using means that avoid harm to, protect, or enhance societal assets. The narrow view of corporate responsibility objectives henceforth, corporate social responsibility commits a significant role towards the sustainability of corporations both corporate social responsibilities and sustainability, and its related concepts influence all aspects of business chandler and werther (2010) acknowledge the understanding of corporate social responsibilities as an aim.
Narrow view: profit maximisation according to milton friedman, a business has no social responsibilities other than to maximise profits corporate officials have a sole responsibility to serve the interests of their shareholders within the rules of the game : open and free competition without deception and fraud. Where the strong view of corporate social responsibility demands too much, the weak view (that corporations need only obey the law) requires too little in light of the christian tradition law by its very nature is reactive laws and regulations are enacted to prevent harms we have experienced in the past from occurring again. Decades of debate on corporate social responsibility (csr) have resulted in a substantial body of literature offering a number of philosophies that despite real and relevant differences among their theoretical assumptions express consensus about the fundamental idea that business corporations have an obligation to work for social betterment. Milton friedman takes a shareholder approach to social responsibility this approach views shareholders as the economic engine of the organization and the only group to which the firm must be socially responsible.
Best answer: i argue broad view that corporate social responsibility extends beyond just maximizing profit and that it needs to act as a responsible member of society but having said this, part of the reason it should act in this way is to support making a profit let me explain by way of a couple of. The term corporate social responsibility corporations can either view corporate social responsibility in one of two views the first being a narrow view which has the aim of ultimate project maximization milton friedman is an american commentator and writer that “forcefully argued that business. A narrow view of corporate social responsibility is expressed by the: a social web model of corporate social responsibility b integrative model of corporate social responsibility. Arguments against corporate social responsibility (csr) some of the most commonly heard arguments against csr you will hear include: businesses are owned by their shareholders - money spent on csr by managers is theft of the rightful property of the owners. In 1970, milton friedman published in the new york times magazine a spirited and influential defense of what we have called in class the narrow view of corporate responsibility.
Compulsory essay question 1 answer below » friedman’s (1970) narrow view of corporate social responsibility is that the purpose ofbusiness is to maximise profits within the law. The narrow view of corporate responsibility states that business has no social responsibilities other than to maximize profits when it comes to corporate behavior, such as described in the wal-mart® e-activity, consider the role that government regulation and / or legislation should play, if any. Corporate social responsibility theories: mapping the territory elisabet garriga, approach is the well-known friedman view that ‘‘the only one responsibility of business towards society is the maximization of proﬁts to the share-holders within the legal framework and the ethical.
The socialist view that political mechanisms, not market mechanisms, are the appropriate way to determine the allocation of scarce resources to alternative uses on the grounds of consequences, can the corporate executive in fact discharge his alleged. In my view, the argument is not wrong so much as it is too narrow first, there can be little doubt that a certain amount of corporate philanthropy is simply good business and works for the long-term benefit of the investors. This view is preferred to the input/output view of management because it is normative and accepts the following premises: (a) stakeholders are persons or groups with legitimate interests in procedural and/or substantive aspects of corporate activity.