Issues in Corporate Social Responsibility

The concept of social responsibility in business is based on the belief that business gains its legitimacy from society; therefore "a socially responsible firm is one that accomplishes - and is perceived to accomplish - the desired economic, legal, ethical, ends of society in terms of moral, economic, legal, ethical and discretionary expectations" (Murray, 1986, p. 186). The necessity for social responsibility is generally regarded as more acute among "large corporations... influencing not only politics and the economy, but the 'quality of life'" (Wood, 1986, p. 193). The major issues which surround the concept of social responsibility in business include such questions as to what extent, if any, do corporations owe a debt of responsibility to society; and is there is a relationship between social responsibility and profitability?

Giacalone and Payne take a negative viewpoint in their discussion of corporate responsibility. These authors suggest that many instances of social responsibility in business today may be "merely a put-on" (Giacalone, 1987, p.22). It is acknowledged that there is growing concern among members of the American public regarding the need for stronger ethics in business. However, it is question

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rly contrasts earlier attitudes among corporate leaders in which social responsibility was first considered as a voluntary act for "doing good" and then as an obligation in resp onse to the demands of the public (p. 22). In contrast to these earlier views, the authors state, it is now possible for corporations to regard costs incurred in socially responsible acts as "an investment which improves the long-term performance of an enterprise" (p.23). Stroup and Neubert state a convincing case and provide some examples which effectively help to back up their assertion. one example can be seen in the negative connotation which many corporations formerly attached to the idea of providing employee benefits. The authors note: "In time, the perception of employee benefits evolved until those benefits were thought of as investments to attract the best and most productive employees. Thus, health insurance, tuition reimbursement, and vacation leave soon were considered as normal business costs that produced value for the enterprise" (p. 23). In another example, Stroup and Neubert describe a large hospital which discovered that employee relations and productivity were greatly improved through providing day care services for its nurses who w
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Approximate Word count = 1981
Approximate Pages = 8 (250 words per page)

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