Social Responsibility of Business to Increase

Question: Discuss about the Social Responsibility of Business to Increase. Answer: Introduction: I have heard businessmen expressively talking about the social responsibilities of business within the system of free enterprises I have witnessed that businessmen believing the fact that they were shielding free enterprise when they proclaim the fact that business is not only concerned about only profits but also in promoting the other desirable social brands of it having social conscience. As per my understanding, business have taken their responsibilities seriously for offering employment, avoidance of any sort of pollution, eradicating discrimination. Businesspersons have been talking like the unsuspecting puppets of the academic forces that have been dejecting the free society basis for the past few years. The social responsibilities of businesses are prominent for the fact of their logical looseness and lack of any sort of severity (Bowen 2013). It is important to understand the responsibilities business has where the general belief is that people have certain responsibilities. A business has always been stated as the artificial person having artificial responsibilities that it needs to fulfill. However, I could not sense out the fact that business have responsibilities overall, even in the indistinct sense. Thereby, the foremost step would always be clarify in scrutinizing the doctrine of the business social responsibility in asking precisely what it entails and to whom. A corporate executive is a person having his own right though as a person he might need to take up some other responsibilities for his family, his principles, his city and country. He may at times feel provoked by the responsibility in distributing the part of his income to reasons he finds valuable. Some of this can be stated as social responsibilities, but here he acts as a principal and not as any agent. In this particular scenario he is spending his own money and not that of his business owners. According to my thinking this are social responsibility, but of that particular individual and not of that business. There is enough desire among the corporate owners to receive highest possible return on their investment. When a person buys shares of Woolworth or Rio Tinto, he would be checking occasionally to see whether there has been certain upsurge in the price as that is the reason of buying the shares. Therefore, it can be stated that the executives who work for their business owne rs who are duty-bound helping their owners in getting the higher share price which is possible through bigger profits. I am of the opinion that for businesses to be more socially responsible they should excel in economic terms. At the time the corporation is making money that money does not disappear into the pockets of some case crazy people, but is reverted back to the economy for the benefits of all. All this opens up new prospects with existing workers finding more security with their jobs. Successful corporations give birth to freedom among workers. Corporations are successful through the way they provide goods and services in the society at affordable prices. Customers life quality improves because of the improvement in the consumer products that brings in healthy competition among the firms. Therole of your personal values in your future profession In the last few years, there has been growing of certain factors like the business units, severance of ownership from management and stiff competition increasing the demand for good and efficient managers. Specialized managers are the need of the hour where everything needs to be in a proficient way. Social obligation is something I look forward to as a motivating factor in igniting the desire within myself to serve the society. It would be like giving back something to the society. Being a future manager, my main job will e to be responsible enough not only to the management but also towards the society. I worked at a retail store for six months that took active part in the NSW bush fire tragedy that killed several people. It was my first experience in serving the society at a time it required corporate assistance of ant stature. Another value that is important for the future profession is the code of conduct. It is important to pave ones life within certain guidelines or rules and regulations in maintaining a well-disciplined life. A slight deviation from that life might end up individuals like me in deep trouble. In management, too managers need to follow certain guidelines and abide by the code of conduct. Violating any rule in the professional life would bring in certain legal actions. Reference: Boulouta, I. and Pitelis, C.N., 2014. Who needs CSR? The impact of corporate social responsibility on national competitiveness.Journal of Business Ethics,119(3), pp.349-364. Bowen, H.R., 2013.Social responsibilities of the businessman. University of Iowa Press. Carroll, A. and Buchholtz, A., 2014.Business and society: Ethics, sustainability, and stakeholder management. Nelson Education. Flammer, C., 2013. Corporate social responsibility and shareholder reaction: The environmental awareness of investors.Academy of Management Journal,56(3), pp.758-781. Hopkins, M., 2016.The planetary bargain: corporate social responsibility comes of age. Springer.