Essay on Social Responsibility
In today's world, the social position of the organization has an increasing impact on its reputation and image. Evaluating its activities, the society takes in consideration not only the operational and financial performance but also how the organization conducts its activities, taking care of their own employees, to what extent its activities corresponds to the interest of other market participants, local community as well as society as a whole.
Disputes about the role of business in society caused too many arguments for and against social responsibility.
Some arguments in favor of social responsibility are the following:
Favorable long-term prospects for business. Social activities of enterprises that improve life of the local community or eliminating the need for government regulation may be in their own interests because of the benefits of participation in society. From the social point of view, there is favorable environment for business activities in more prosperous society.
Availability of resources to assist in solving social problems. As the business has considerable human and financial resources, it should be transferred part of them to the social sector.
Moral obligation to behave socially responsibly. The company is a member of society. Therefore, morality must also manage its behavior.
Here are arguments against social responsibility:
Violation of profit maximization principle. The transfer of some resources to social needs reduces the influence of the profit maximization principle. The company conducts itself as the most socially responsible organization, focusing only on economic interests and leaving social problems to the public institutions and services, charitable institutions, and educational organizations.
Expenditure for the social involvement. Funds directed on social needs are expenses for business. Ultimately, these costs are transferred to consumers in the form of rising prices.
In the basis of mechanism of forming social maturity of company management, there is the degree of their formation of social responsibility. Namely, its development is an indicator which enables to guarantee not only the economic efficiency of the organization but also its social development.
In order to enhance social responsibility, the company management should keep in mind that demands of society are becoming more personalized for organizations. Therefore, there are problems in determining the degree of social responsibility of organizations to the society as a whole, the public and their employees, and development of the concept of social responsibility towards all stakeholders.
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