Contrastingly, the broader view of Corporate Social Responsibility states that other than the main objective of gaining profits the businesses and organizations have responsibility towards the communities where they operate and to address the negative consequences of their businesses on the society. The Acceptance of the Broader View On the contrary, according to the supporters of the broad view to CSR apart from their primary objective of maximising profits businesses are also responsible towards the society and community in which they operate in terms of addressing possible negative implications of their business practices
In my view the statement 'the social responsibility of business is to increase profit' is true to a point, however, I believe a corporation's responsibilities spread beyond just maximising profits. The 'Narrow View' argues that profit maximisation is the only objective for a business 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 examples The social view expects them to create wealth for owners, but to do so in ways that are deemed acceptable to society. CSR covers the relationship between corporations (or other large organizations) and the societies with which they interact. Reading: Milton Friedman, The Social Responsibility of Business is to Increase its Profits (PDF Milton Friedman, one of the forerunners of the business view, argued that the social responsibility of a business is to increase its profits
What is the Broad View of Corporate Social Responsibility? 3. How is downsizing an example of the debate between the Narrow and Broad view corporate responsibility? Expert Answer. Who are the experts? Experts are tested by Chegg as specialists in their subject area. We review their content and use your feedback to keep the quality high The term corporate social responsibility is still widely used even though related concepts, such as sustainability, corporate citizenship, business ethics, stakeholder management, corporate responsibility, and corporate social performance, are vying to replace it The differences in the two views on corporate social responsibility (CSR) come from a difference in how the two views see the role of the corporation in society. Friedman sees the role of the corporation is to make as much money as possible while conforming to the basic rules of society (Friedman, 1970) Although corporate social responsibility is a very broad concept that is understood and implemented differently by each firm, the underlying idea of CSR is to operate in an economically, socially, and environmentally sustainable manner. Generally, corporate social responsibility initiatives are categorized as follows: 1. Environmental. .
Broad and narrow view Rules related to corporate social responsibility for companies differs and it depends upon various factors. The process for using the profit earned by the company has to be decided in an exclusive manner. In this case, the values are imposed by analysing the factors that can impact the profit earning margin for the company Security owns or plays a pivotal role in a wide range of organizational priorities, such as sales and supply chain exception reporting. Conventional fraud detection and response are augmented with cost avoidance planning, brand reputation protection, and corporate social responsibility, including community disaster preparedness Understanding Corporate Social Responsibility (CSR) Corporate social responsibility is a broad concept that can take many forms depending on the company and industry. Through CSR programs,.. Corporate social responsibility (CSR) refers to the moral and ethical efforts made by a company for the betterment of the society in some way
There are two schools of thinking when it comes to corporate social responsibility: the narrow view and the broad view. Milton Friedman summed up the restricted view of CSR when he remarked, In a free-enterprise, private-property society, a corporate executive is an employee of the business's owners. He is directly responsible to his bosses Corporate Social Responsibility is building up to be the new annual target for the corporates, which aim to instill the value of environment accountability in its respective employees. Moving further, there are two basic views of corporate responsibility, the broader view and the narrow view of corporate social responsibility A comprehensive definition of Corporate Social Responsibility (CSR) is offered by McWilliams and Siegel (2001, p.117) as situations in which a company goes beyond compliance and engages in social causes which is beyond of company's interests The narrow and broad views of CSR. Corporate Social Responsibility can be considered as one of the most widely disputed issues in the area of business organizations. There exist two extreme views and opinions regarding the social responsibilities in business . On one hand is the classical view according to which the companies are business. broad view is indeed a narrow view in disguise. Key words: Corporate Social Responsibility (CSR), broad view, narrow view, stakeholders, stockholders, egoism. INTRODUCTION According to Decker (2004), the traditional view of corporations is that companies have primary, if not sole, responsibility towards its owners, or stockholders
Classical and Socioeconomic Views of Social Responsibility. Business's social responsibility has increased due to several reasons. Control from the government and the necessity to inform the society are among them. But the matter is that the company makes its decisions within itself and that creates two opposite approaches that managers of. What this figure shows is that although there may be some clearly distinct economic versus social concerns, there is a rather broad area in which economic and social concerns are consistent with one another. It is corporate activities that fall into this overlapped area that provide the more realistic view of social responsibility. Therefore. of corporate social responsibility. CSR, in the context o f Kant ' s concept is captured in such a way that there is. a categorical i mperative to care for others and to contribute to the.
The narrow view restrains a corporation's moral obligation to the corporation's owners and shareholders while the broad view, which is often deployed to support Corporate Social Responsibility. Corporate social responsibility (CSR) can be simply and broadly defined as the ethical role of the corporation in society. The aim of CSR is to increase long-term profits and shareholder trust through positive public relations and high ethical standards to reduce business and legal risk by taking responsibility for corporate actions Whether to adopt the broad or narrow view of corporate social responsibility (CSR) presents an ethical dilemma for some business professionals. To explore this: 1. Construct an argument for the broad view of CSR. Present your work in an essay. 2. Use Kantian theory to assess whether the broad view of CSR is ethical The ranking, produced by the Journal's environment, social and governance research analysts—who assessed more than 5,500 publicly traded businesses based on sustainability metrics including business model and innovation, external social and product issues, employee and workplace issues, and the environment—took a broad view of.
The concept of Corporate Social Responsibility (CSR) is generally understood to mean that corporations have a degree of responsibility not only for the economic consequences of their activities, but also for the social and environmental implications. This is sometimes referred to as a 'triple bottom line' approach that considers the economic, social and environmental aspects of corporate. CSR disclosure scores of companies in Russia are presented in Table 2. As observed from Table 2, the average CSR disclosure score of 48 companies listed on Broad Market index is. 41%. The. Question: The broad view that corporations are responsible for all areas not just profit maximization or the narrow view that corporations should only maximize profit. 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 The stockholder view of the organization would tend to be aligned closer to the economic responsibility view of social responsibility. The stakeholder view of the organization argues that anyone who is affected by or can affect the activities of a firm has a legitimate stake in the firm. This could include a broad range of population
The piece discusses the corporate social responsibility (CSR), with specific focus on India. It begins by giving a broad understanding of the history of the CSR and its applicability, followed by corporate governance, touching upon United Nations Global Compact (UNGC), ISO, and GRI Corporate social responsibility: How can companies take a stance? In recent years, CSR has cemented its place as a mainstream business philosophy, as companies react to falling public confidence in them. With corporate social responsibility part of the business mainstream, companies are now expected to make a profit and a difference Long time in the past the profit maximisation was the sole business objective, but this view no more holds good. Sacrificing the part of the profits has now become prerequisites if the companies wishes to survive and maintain the growth in the market. Nowadays organisationsare moreaware of the significances of social responsibility because the economic Corporate Social Responsibility. In this era of globalization, Corporate Social Responsibility (CSR) has managed to integrate itself into the corporate culture and has evolved as an integral aspect of corporate performance reviews. It is a voluntary concept to be adopted by organizations. It integrates the social and environmental dimensions of a business in its operational activities
Corporate Social Responsibility (CSR) is a topic of great interest at many levels. To society, CSR can be instrumental in moving toward sustainability and achieving other social goals. For organizations it is a way to do good while improving organizational reputation and brand equity Corporate social responsibility is a broad concept that denotes an organization's context-specific actions and policies that are based on the stakeholders' interests and economic, social, and environmental considerations (Aguinis & Glavas, 2012, p. 933) Some writers suggest that corporations should act in ways which reflect a broad concern for the well-being of others, as opposed to a more narrow (Libertarian) conception of responsibility. But this Broad View of moral responsibility puts us on a collision course with our considered intuitions about paternalistic acts. This paper discusses several aspects of this issue: the neutrality of the. As a recent study on corporate social responsibility by Cone Some companies had taken steps to recognize a broad range of stakeholders even before the Business Roundtable issued its statement. Research social issues are not the concern of business people seeking to link CSR with corporate financial perfor- and that these problems should be resolved by the mance (CFP) exploded during this decade, and the unfettered workings of the free market system. search for a tighter coupling with firm financial per- Further, this view holds that.
Which view of corporate social responsibility—the narrow or the broad—do you favor, and why? Is advertising a socially desirable aspect of our economic system? In your view, is our current treatment of animals—in particular, factory farming—morally acceptable In the narrow business view (or economic view), corporations contribute to society by making a profit, which supports employment, wages, purchase, investments, and taxes. Milton Friedman, one of the forerunners of the business view, argued that the social responsibility of a business is to increase its profits This broader view is referred to as the socioeconomic model of social responsibility. It places emphasis not only on profits but also on the impact of business decisions on society. Recently, increasing numbers of managers and firms have adopted the socioeconomic model and they have done so for at least three reasons Broad and narrow view. Rules related to corporate social responsibility for companies differs and it depends upon various factors. The process for using the profit earned by the company has to be decided in an exclusive manner. In this case, the values are imposed by analysing the factors that can impact the profit earning margin for the company Social utility must be prioritized for the well-being and good health of individuals. Among the economic trends that have approached this problem, the concept of Corporate Social Responsibility (CSR) opens up new paths to explore. CSR is defined as a collection of actions that seem to promote some social good, beyond the company's own.