Businesses Should Be Socially Responsible Simply Because They Have the Financial and Technical Resources to Help Solve Social Problems (Essay Sample)

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Businesses Should Be Socially Responsible Simply Because They Have the Financial and Technical Resources to Help Solve Social Problems
Social responsibility has been taken as a natural part of every business. Social responsibility establishes and sustains a symbiotic relationship between the firm and its community. This paper argues against the assertion “Businesses Should Be Socially Responsible Simply Because They Have the Financial and Technical Resources to Help Solve Social Problems.”
Companies engage in social responsibility to improve their public image. Beyond the business a company does, its image is strengthened by its social responsibility. Consumers feel like part of a progressive entity when the firm is engaged in charity work in the community. As such the image of the firm depends on the types of charity it takes and the publicity created by these initiatives. Commonly, companies undertake social responsibility through volunteering, supporting charities and through partnerships with social organizations.
Investor attraction is another reason for social responsibility in companies. The goal of the investor is to put their money where they feel it is properly utilized. This objective implies that beyond then business having sound business strategies, it also must have strong social responsibility initiatives. As noted by (Rang 46), through corporate social responsibility, the firm and its employees demonstrate to current and potential investors that they are about more than profits.
In opposition to corporate social responsibiloity, an argument by (Sims 64) notes that businesses are created for the sole purpose of creating profits. As such, any non-profit activities that take away from the profit basket of the firm ought to be discouraged. The argument further holds that the resources and time that is diverted to social responsibility ought to be used in pro...