Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 1500 words - 1

corporal Social Responsibility - experiment Examplegained much coverage in the media these days and various supporting and contradicting views about the implementation of this hypothesis in the business concern are arising. Economists do non deny the existence of corporate social responsibility, just different economists define the responsibility differently. Some economists like Miltion Frideman criticize the idea saying that business is roughly responsible when it makes profit efficiently not when it misapplies its energy on social projects. (Frideman, 1970). On the former(a) hand, Ralph Nader, define responsibilities as inclusive of measures necessary to safeguard the interests of society. It is hard to imagine the rise of the modern consumer movement without the leadership, resourcefulness, and crystal clear persistence of Ralph Nader. (Bollier, 2010).In this paper, I am going to write about the impact of incorporating the concept of Corporate Social Responsibility (CSR) into a corporations business and working system. The potential benefits of achieving the CSR through business ethics will be weighed against the financial losses incurred by the corporation and its share holders in sort of fulfilling the CSR to evaluate the eligibility of CSR to be adopted in a corporations business.The business ethic system requires corporations to consider it their ethical responsibility to greatly look after the wellbeing of their employees, stakeholders and the society besides stress on making profits.According to (Agalgatti and Krishna, 2007), there are basically two theories namely the Teleological possibility which analyses the results to judge if an action was right or wrong, and the Deontological theory, which classifies duty as a moral category that is not influenced by results. They also noted that the discussion on business ethics is conducted on either or both of them. Basically the business ethic theory necessitates the consideration of social bene fits beside making money. On the other hand, (Leave this line as it is