Should Companies Subscribe to Codes of Corporate Social Responsibility Assignment

Should Companies Subscribe to Codes of Corporate Social Responsibility - Assignment Example Elementary interpretation of the phrase ‘Corporate Social Responsibility’ calls for an investigation into the ‘supposed’ relationship between business and society. The hypothesis that there is a tangible link between business and society is the basis for the whole issue of Corporate Social Responsibility. One comes to the conclusion that the hypothesis is not true, when business, as all business, is considered. For instance, take the example of a logistics service, of any type for that matter. For example, in the case of a grocery supplier that charges farmers for transporting vegetables to the local market, there is little relation if any between business and the society at large. At least no responsibility in this case seems to arise directly from a business of this kind. According to Carroll & Buchholtz (2001), â€Å"when we speak of business and society relationships, we usually refer to particular segments or subgroups of society or to business and som e system in our society†. Why this consideration is important is because it rules out the possibility of applying any holistic theories of corporate morality and conduct to business – meaning all business. Conventional Social Responsibility Anyhow, there are businesses that can be considered to be linked to society. However a non-living body cannot be expected to ‘act responsibly’. Social responsibility is a doubtlessly well-understood term in educated communities. The description and limitations of the phrase are cemented concepts. One definition of social responsibility states that being socially responsible means â€Å"acting with concern and sensitivity, aware of the impact of your actions on others, particularly the disadvantaged† (Entrepreneur Magazine). Understandably a human can use his... Regardless of the current conditions of Corporate Social structures around the world, Corporate Social Responsibility is an issue that ought to be advocated. By most contemporary definitions, CSR is the â€Å"duty of every corporate body to protect the interest of the society at large†. It is not only a responsibility of corporations to keep a check on the potential environmental damage they might be doing but after the recent boom in communication systems it is becoming an ever larger necessity for organizations as people learn to care more about the world and its inhabitants. A simple rule to follow for publicly owned companies is to obey the principles of what Geoffrey P. Lantos calls ‘Ethical’ and ‘Strategic’ Corporate Social Responsibility and leave out those of ‘Altruistic’ CSR. This classification of CSR by Lantos is derived from the theories of ethics of duty (non-consequential). It is easy to see that the only condition in which CSR adherence is to be avoided is when it curtails the rights of the shareholders. As the human race moves towards greater organizational transparency in general and ever greater public access to information, indicators of greater influence of morality on the profitability of corporations are getting ever profounder. â€Æ'