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Essay / Research Paper Abstract
This 3 page paper looks at corporate social responsibility and to what extent a corporation is responsible to society and stake holders. The relationships between corporations and society, and corporations and their stockholders, are explored. No bibliography.
Page Count:
3 pages (~225 words per page)
File: RT13_SA341cor.rtf
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Unformatted sample text from the term paper:
employees or other people they hurt. As Wal-Marts go up, mom and pop shops go down. As a new merger nets a CEO a million dollar bonus, five hundred employees
are laid off. These are the things that anger the masses. Yet, what are the limits of corporate responsibility? How do businesses meet their economic and legal obligations while
being socially responsible? First, it should be said that corporations have a duty to meet their obligations to stake holders first, and that relates most prominently to stock holders.
Corporations are therefore not expected to give money to the poor and reduce profits immensely. That would be unethical as the corporation must meet its obligations to profit. After all,
stock holders would not have purchased shares in the corporation had they thought all the profits would be given away. That said, corporations have some responsibility to make ethical decisions
even during difficult times. This means that firms cannot pay CEOs extraordinary amounts while the company is downsizing for example. That is how Dick Grasso, the head of the NYSE,
got into trouble. He accepted such a large compensation package that people thought the situation was unethical. Although it was not Grassos fault entirely, he stepped down to make the
controversy go away. Still, such ideas linger. When do the obligations of the firm to the share holder begin and end and how are other stakeholders affected? It seems
that in a highly competitive world, firms should not have to go above and beyond the call of duty and need not do anything but comply with the law
of the land. It is an idea that makes sense. While companies are trying to get on that top 100 list to enhance their images with future employees or perhaps
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