Corporate Social Responsibilities Essay - 1603 Words

On September 13, 1970, Milton Friedman wrote and article, Social Responsibility of Business is to Increase its Profits. One of Milton’s theories suggested that the only legitimate incentive for a corporation to exist is to maximize its profits with its shareholders. As companies progress over time, so does the reason for the company existence. â€Å"What makes a stake holder?† Isabel Hilton (GE Stakeholders 2009) â€Å"What makes a stake holder? If you take a broad view of business then almost anyone who is affect by the operation of the business is a stakeholder. There’s a narrow view, which is about shareholding, profit, and profit line. But there’s a much wider view, which is all the other activities, all the other impacts that business can†¦show more content†¦Many consumers are now looking into companies who promote organization that are socially and environmentally responsible. â€Å"It may well be in the long run interest of a corporation that is a major employer in a small community to devote resources to providing amenities to that community or to improving its government. That may make it easier to attract desirable employees†¦Ã¢â‚¬  (Friedman, Milton 1970) Corporate social responsibility is an ideology where a company and/or organization(s) have to act upon an obligation that will help to benefit communities, society, and environment around them. Numerous of corporation created a section or division to help the relationship between businesses and society. To demonstrate how corporate social responsibilities are divided based on strength and concerns from the past to the future, consider General Electrics (GE). General Electrics, â€Å"GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the companys Web site at www.ge.com.† (Business Wired 2009) GE is located in the United States and their industry sector is capital goods. General Electric is one of the largest publicly owned and operated companies in the world.Show MoreRelatedCorporate Social Responsibility : Corporate Responsibility773 Words   |  4 PagesCorporate social responsibility may also be referred to as corporate citizenship and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. 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