Role Of Corporate And Social Responsibility Essay - 701 Words

9/2/2015 BUAD 5600 SEC001 – Business, Government Society Tracy Gonzalez-Padron, PhD Module 3 Role of Business in Society Tadeas Lenner After reading these three articles, from my point of view, the main concern is the concept of corporate and social responsibility that businesses have to employees, consumers, investors, stakeholders and society in general. And if there should or should not be any responsibility at all. We can see how this idea evolved in the United States throughout the 20th century. Chester argues that business is human. It is composed entirely of human beings – they are large assets. (Chester, 1936)He suggests that workers must have working hours that allow leisure for physical, social, and cultural relaxation – a fresh approach to the business of living. Chester thinks that the human part in company needs to be taken care of. In contrast Friedman discusses how corporation and its managers should not be concerned with the human parts (society) and should solely be concentrated on profits. He argues that the company is mainly responsible to its owners, shareholders, managers and employees to generate great amount of income to provide high financial rewards. In other words, company stands on its own, what happens in society should not be a concern. Porter and Kramer think that a company needs to care both about what is happening in company and also what is happening in society in order to benefit both sides. They claim thatShow MoreRelatedThe Role Of Corporate Social Responsibility On Csr1666 Words   |  7 PagesOvertime,stakeholder demands for corporate social and environmental responsibility have been greatly increasing.According to Girod and Michael (2003,cited in Jones etal,2007 ) CSR is ‘a key tool to create, develop and sustain differentiated brand names. 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