Corporate social responsibility refers to the efforts of a company to have a positive impact in the society as they strive to achieve maximum profits in the company. In the company’s operations there are two things that need to be taken into consideration. First the management of the entire business operations and how the company impacts on the society. Today most businesses assert that they are not focused on only profit making but that they also have a great social task to undertake. There main aim is to make the world they are living in a better place to spend their entire life. Such actions are supported by well known international agencies.
Arguments against corporate social responsibility
The idea of corporate social responsibility has various numbers of deficiencies. These include the fact that since most businesses have some stakeholders who take part in their ownership, the amount of money used for corporate social responsibility is seen as an act of stealing from the owners. A corporation is expected to exercise acts of fairness and honesty in carrying out its functions. It should create awareness to the members who are the rightful owners of the property on the nature of any responsibility they undertake (Bacher, 2007).
Another reason against corporate social responsibility is that it deprives the business its ability to climb up the ladder towards gaining world recognition. The sum of money used for the corporate social responsibility can be spent well in making the business grow bigger. Most of the well known businesses do not engage in these ideas.
Engagement in the act of corporate social responsibility is the best idea for well established businesses which have a lot of resources at their disposal. For the upcoming companies engaging in the act may lead to issues of unemployment in the community as people will be laid off and other irrelevant pressures placed on the company.
There are various other organs whose function is to engage in corporate social responsibilities. Companies taking part in this act are depriving them of their tasks. Hence each organization should focus on meeting its own objectives.