The Corporate Social Responsibility Debate
This is a concept that won’t just leave the lips of corporate personnel in the current business setting. Ideally it refers to what a business does besides engaging in profit making activities. The bone of contention on this issue is whether or not to engage in the process. A number of concerns have been raised in regard to embracing this concept especially in reference to contravening of the main objective of business.
Social responsibility is closely linked to business ethics. From the onset, the charter or authority for a business to carry out its operations is given by the society within which it operates. It is therefore fair that firms give something in return as a means of appreciation to the community for the support accorded furthermore; it may be a form of marketing the firm (Kotler & Lee 2005). It is notable that clients and customers associate with a firm that acts in a socially responsible manner. Think of a firm that sets out to pay school fees for needy children in the society better yet a firm that endeavors to clean the environment where it operates and even goes ahead to plant trees. It is likely that the reception such a firm receive from the society will be a positive one hence an effective marketing strategy.
Corporate social responsibility also helps in reducing the stringency of government involvement in the operations of a firm. A company that follows all the stipulated regulations and acts in a socially responsible manner faces minimal interference from the government. This ends up saving time that would otherwise have been wasted in legal battles. The main reason one gets into business is to make gains thus the argument against social responsibility furthermore corporate social responsibility requires skills that most firms may not have. Lack of accountability is also eminent in such ventures since there is no clarity as to the procedure of dividing labor.
All said and done, it is quite important for a firm to engage in social responsibility not just as a way of marketing themselves but as a way of giving back to community and playing a role as part of the community.
Kotler, P. & Lee, N. (2005). Corporate social responsibility: doing the most good for your company and your cause. New Jersey: John Wiley and Sons