Introduction
The concept of Corporate Social Responsibility (CSR) covers different approaches that lead to certain kind of corporate activities integrated within the business organizations’ model where the operations of the business would be to ensure that there is its support to law, ethical principles, and social norms based on international standards. For example, the operational metrics involve expected design of specific behaviors and detailed businesses entities exercising their responsibilities for the outcome of their business activities. This regardless of being and accordance on the environment, consumers, communities, employees, stakeholders, and other relevant groups within the public sphere would adhere to respective business ideals.
Milton Freidman has some different views on Corporate Social Responsibility (CSR), and the sustainability and corporate responsibility
Milton Freidman’s view on the concept of the corporate social responsibility (CSR) states that the business is built on important social platforms which reflect the objective expansion of the significant business operations. This process underlines the significant business operations which are reflected within a major business engagement approach and this is objectively identified by reflecting the availability of resources and regulatory mechanisms for business developments. The profitability levels and gains are hence expounded within a more creative platform to reflect free and fair competitions where there are no frauds or deceptions.
Milton Freidman claim that a big company, except a person, may not poses duties and responsibilities. Nobody in this particular level would participate in business operations and contracts with a big company if they do not have relevant sense of responsibility, critical thinking and absoluteness in service delivery. This implication of thought indicates that a company was or is not responsible to clear its bills. Clearly therefore, a company may possess legal and moral duties and responsibilities.
Milton Freidman also claims that’s so long as it is kept in accordance with the regulations of the game” then this could be added in form of existing legal terms. But what about the regulations of the game that are not applied to the law? Those regulations are adhered to only if they plan to be successful. For example, the recognized rules or regulations of the market environment detailing demand and supply. Additionally, with the rapid increase in technology, the law obviously is in line with the improvements in technology and reasoning. However, the fundamental standard of responsibility typically precedes the legal decisions except if enough people reason that something must be done illegal, it will not be made illegal. Therefore, if somebody accepts that companies have the ability of offering responsibilities and that they should follow the rules of the game above or over those arranged and applied into law.
References
Gopal K. Kanj, Parvesh K. Chopra., (2010) Corporate Social Responsibility in a Global Economy: publisher=Routledge: Pp. 234-239.
Armstrong, J. Scott; Green, Kesten C., (2013) Effects of corporate social responsibility and irresponsibility policies.Journal of Business Research: Pp. 128-136
McWilliams, Abagail; Siegel, Donald (2001). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review26: 117–127.
