Forum 314 Response: Curtis
June 1, 2016
Curtis, I concur that the social responsibility aspect of a business should integrate the legal, ethical, financial and philanthropic aspects. The integration of these aspects ensures that the business does not neglect a single aspect in its corporate social responsibilities; hence the need for comprehensive adherence to laws, regulations and ethical guidelines. A company has the ethical duty and responsibility to ensure that it “gives back” to the relevant authorities and community through social responsibility. I concur that a business can do more than just paying wages or paying taxes as part of the institutional responsibility; the business must show the world that it cares for the people and environment within which it operates. It is not enough for the business to purse the money but it must ensure that it preserves the non-financial aspects of its corporate strategy. These efforts ensure that the business is sustainable in the short and long-term since social responsibility associates it with positive outcomes.
I concur that sweatshops are not ideal since companies do not have adequate oversight and control of operations especially in terms of employee management. It is likely that sweat shops will exploit poor social and economic conditions to deprive the employees of competitive wages and ideal working conditions. The article “Mahindra to buy Italian car designer Pininfarina at sharp discount” published on popular essay writing service supports the argument for financial social responsibility especially considering that Mahindra buys companies that are ailing financially and turns them around into financially stable companies through comprehensive restructuring and management (Chatterjee & Montani, 2015).