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Essay / Research Paper Abstract
This 5 page paper is a discussion of social responsibility, including the elements found in most definitions and the argument for companies to be socially responsible. Bibliography lists 3 sources.
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5 pages (~225 words per page)
File: MM12_PGcsr2.rtf
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Unformatted sample text from the term paper:
that has been debated for a very long time (Owen, 2002; Sexty, 2004). Part of the confusion may have to do with the fact there is no single agreed-upon
definition for corporate social responsibility (Sexty, 2004). However, research suggests there are specific elements that are included in all definitions, which include: they have responsibilities beyond producing their goods and
making a profit; the responsibilities include helping to solve social problems and most particularly those corporations create; a corporation has more stakeholders than the shareholders, they have a very large
constituency; they have various impacts that go beyond the marketplace; and they :serve a wider range of human values than can be captured by a sole focus on economic values"
(Sexty, 2004). These elements demonstrate that there is a close relationship between the business and society, they are interwoven so that they are actually interdependent (Sexty, 2004). One cannot exist
without the other. Society places certain expectations on businesses because businesses serve at least three roles: they are an institution in the society; each business is a particular part of
the society and because individual executives and managers are moral actors in the corporation (Sexty, 2004). What is expected is not always mentioned in terms of social responsibilities (Sexty, 2004).
Other terms include reputation management, social impact management, corporate citizenship, corporate sustainability and triple bottom line (Sexty, 2004). The last two have been written about frequently in the last
few years (Sexty, 2004). No one would argue the need for corporations to rebuild and strengthen their reputation (Owen, 2002). However, Friedman clearly denounced the whole concept of social
responsibility (Owen, 2002). Friedman argued: Few trends could so thoroughly undermine the very foundations of our free society than the acceptance by corporate officials of a social responsibility other
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