Describe the 2 views of Corporate Social Responsibility.

One of the most contr oversial issues that has been widely debated over the last 2 decades is the corporate social accountability of organizations. Opinions or so telephone lines social responsibilities evasiveness mainly between two innates. At the one extreme is the unadulterated view that states business is an economic institution enjoin towards profit whose only tariff to society is to provide goods and go and to return maximum benefits to shareholders (Robbins, Bergman, Stagg and Coulter, 2003: 136). The Nobel Prize winning economist Milton Friedman endorsed this classical view. Friedman said the primary responsibility of managers is to operate the business to fill the interest of shareholders, and this interest of course is profit maximization (Robbins et al., 2003: 136). At the other extreme, there is the socioeconomic view that states business is a part of the larger society and, therefore, it has responsibilities other than simply maximising profits (Robbins et al., 2003: 137). Some proponents of this view also contend that it is oft in a companys financial self-interest to be socially responsible.

The topic of corporate social responsibility has been widely argued and debated about because it is becoming an increasingly important concern to the society in which an organization operates in.



Over time the classical economic surmise based business social responsibility evolved to see business social responsibility as more than just profit. Businesses ecumenical have become more socially responsible, but they electrostatic are pursuing economic interests. Economic interests will eer remain the number one priority for businesses all over the world. Any mechanism for enforcing or urging social responsibility upon firms must of course reckon with a profit motive... (Arrow, 1973: 304). This probe is going to look at the views of corporate social responsibility and then critically analyze the issues related to it, and then gulp up to...

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