scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,046
fnofNowadays there are lots of companies Business is an organization that strives for profits for its owners while meeting the needs of its customers and employees and balancing the impact of its actions on other stakeholder The main aim of it is making profit On the other hand they also have some social responsibility Responsibility is using ones property both tangible and intangible in a manner that does not unduly infringe on the freedom of others There is a strong positive relationship between levels of social responsibility and ethic Social responsibility has become increasingly important in order to strengthen firm value the social responsibilitys role one must first introduce the environment the successful modern organization and the effect changes have had on these organizations The role will be defined and then supported by further research into what social responsibility does for the firm how it is perceived by managers and views on how it affects financial performance Finally the practical implications for managers will be considered with a look at new accounting practices which are at the forefront of ethical accounting There are many ways in which to describe success It is maximizing the market value of the firm Ross et al 2001 13 The market value is not only affected by financial profits but also a firms social and environmental performance With that in mind it should be noted that not all firms look beyond their financial profits and that it has been argued in the past by monetary economist Milton Friedman that business sole responsibility is to make a profit and in doing so they contribute to society Harrison 2001 61 However there is the counter argument in ethical decision-making and that is that corporations have social responsibilities because they draw upon the infrastructure provided by the community Harrison 2001 61 Social Responsibility SR is more than philanthropy it means being a responsible member of society and it covers a huge range of
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA