After All, The More Visible and Successful A Corporation Is, The More Responsibility It Has To Set Standards of Ethical Behavior For Its Peers, Competition, and Industry
After All, The More Visible and Successful A Corporation Is, The More Responsibility It Has To Set Standards of Ethical Behavior For Its Peers, Competition, and Industry
After All, The More Visible and Successful A Corporation Is, The More Responsibility It Has To Set Standards of Ethical Behavior For Its Peers, Competition, and Industry
Social responsibility says that enterprises must act in a way that serves society in
addition to achieving shareholder value. Investors and consumers seeking
investments that are not only profitable but also contribute to the well-being of
society and the environment are increasingly concerned about social
responsibility. Critics, on the other hand, contend that business by its very nature
does not see society as a stakeholder.
Social responsibility indicates that enterprises should act in a way that serves
society in addition to achieving shareholder value.
Companies that are socially responsible should embrace policies that promote
societal and environmental well-being while minimizing negative consequences.
Companies can be responsible in a variety of ways, including encouraging
volunteerism, making environmental reforms, and donating to charity.
Consumers are more actively seeking out socially responsible enterprises to buy
goods and services from, which has an impact on their profitability.
According to critics, being socially responsible is the polar opposite of why
companies exist.
Because there are numerous parallels between the quality movement and the
history of social responsibility, it is critical for quality experts to grasp the history
of social responsibility. Quality costs and everyone's duty to quality, as opposed
to end-of-the-line inspection, were debated in the early days of quality. The
discussion over whether a corporation has any social obligation began the social
responsibility movement.