An Argumentative Essay on Corporate Social Responsibility

1. Corporate social responsibility is an ill-defined term, so any company can set its own definition. I see corporate social responsibility as encompassing a wide number of things, generally relating to citizenship and being a beneficial member of the community. I do not particularly subscribe to the Milton Friedman view of CSR (1970) that companies only have a duty to their shareholders. They have a duty to all stakeholders, even oblique ones like the environment. Corporations can become more socially responsible to taking a broader stakeholder view of their responsibilities. Some corporations do have a positive impact on society. Walmart in its quest to become more efficient has become a leader in renewable resources. It also uses its wealth for charitable giving, for example pledging $100 million for womens empowerment programs around the world. The giant Tata conglomerate is another company widely known for its charitable work. Some companies have not been responsible. BP is a classic example, as their business practices were fairly appalling even before Deepwater Horizon. Few oil and gas companies can be said to have clean hands. I feel that corporations should be punished in the same way as criminals. If a person commits a criminal act on behalf of the corporation and a person is always responsible - they should face criminal prosecution. Executives should also face trial for things like Deepwater Horizon, since the organizational culture was a majorShow MoreRelatedThe Definition Of Professional Ethics1251 Words   |  6 Pagesrelation to what is right and what is wrong. There are many general aspects regarding professional ethics such as, honesty, accountability, respectfulness, loyalty, confidentiality and obedience to the law. Corporate social responsibility is a form of social ethics. 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