essay on social responsibility

Essay on Social Responsibility

Social responsibility is a term that has been used in different contexts, including the economy, education, politics , and religion. Social responsibility is challenging because it encompasses so many aspects, and there is no single definition of social responsibility. In simple words, social responsibility is the responsibility of an individual to act in a way that promotes social well-being. This means that a person has a sense of obligation to society and sacrifices for the good of others. BYJU’S essay on social responsibility explains the importance of being a socially responsible citizen.

A society’s responsibility to the individuals in that society can be seen through the various social programmes and laws. Governments try to create a better world for their citizens, so they implement various social programmes like welfare, tax assistance, and unemployment benefits. Laws are also crucial to a society because they enforce practical actions by its citizens and punish harmful actions. Now, let us understand the significance of social responsibility by reading a short essay on social responsibility.

Importance of Social Responsibility

BYJU’S essay on social responsibility highlights the importance of doing good deeds for society. The short essay lists different ways people can contribute to social responsibility, such as donating time and money to charities and giving back by visiting places like hospitals or schools. This essay discusses how companies can support specific causes and how people can be actively involved in volunteering and organisations to help humanitarian efforts.

Social responsibility is essential in many aspects of life. It helps to bring people together and also promotes respect for others. Social responsibility can be seen in how you treat other people, behave outside of work, and contribute to the world around you. In addition, there are many ways to be responsible for the protection of the environment, and recycling is one way. It is crucial to recycle materials to conserve resources, create less pollution, and protect the natural environment.

Society is constantly changing, and the way people live their lives may also vary. It is crucial to keep up with new technology so that it doesn’t negatively impact everyone else. Social responsibility is key to making sure that society is prosperous. For example, social media has created a platform for people to share their experiences and insights with other people. If a company were going to develop a new product or service, it would be beneficial for them to survey people about what they think about the idea before implementing it because prior knowledge can positively impact future decisions.

Social responsibility is essential because it creates a sense of responsibility to the environment . It can lead to greater trust among members of society. Another reason is that companies could find themselves at a competitive disadvantage if they do not ensure their practices are socially responsible. Moreover, companies help people in need through money, time, and clothing, which is a great way to showcase social responsibility.

Being socially responsible is a great responsibility of every human being, and we have briefly explained this in the short essay on social responsibility. Moreover, being socially responsible helps people upgrade the environment and society. For more essays, click on BYJU’S kids learning activities.

Frequently Asked Questions

Does being socially responsible help in protecting the environment.

Yes. Being socially responsible helps in protecting the environment.

Why should we be socially responsible?

We should be socially responsible because it is the right thing to upgrade society and the environment. Another reason is to help those in need because when more people have jobs, the economy can thrive, and people will have more opportunities.

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Essays About Responsibility: Top 12 Examples and Prompts

We can’t take on the challenge of life without responsibility; If you are writing essays about responsibility, discover our guide below.

The word responsibility describes the state of being accountable for our actions and is one of the main elements that make us human. We are not born with it; instead, it is something to be exercised and improved on over time.

It has often been said that with power or freedom comes responsibility, which could not be more truthful. Each of us is gifted with the ability to make choices, and we are considered superior to all other living things on this planet. However, we have to make informed choices and be responsible for our actions, whether to ourselves, the people around us, and our environment.

5 Top Essay Examples

1. the value of responsibility by simon baker, 2. freedom is not the lack of constraint, but the exercise of responsibility by beulah west, 3. why responsibility is so important by steve rose.

4. The Beneifts of Being Responsible by Frank Terzo
5. What It’s like to Feel Responsible for Everything by Duncan Riach

1. The Importance of Responsibility

2. dealing with false responsibility, 3. freedom and responsibility, 4. what is social responsibility, 5. what are your responsibilities, 6. responsibility as a component of success, 7. a time you acted responsibly.

“It’s easy for us to become blinkered or out-of-touch when we’re constantly working with our heads down. Although meeting our commitments is hugely important we bear another responsibility, that is to invest in ourselves and in each other. When we can free our imagination and refresh our minds, we restore perspective and reduce stress. We find time and space to explore new ways to collaborate, be creative and enjoy ourselves to the benefit of our mission.”

Baker writes about why he thinks responsibility is important and discusses factors related to responsibility, namely trust, personal choice, and freedom. A feeling of trust allows you to be more comfortable accepting responsibility, while responsibility allows us to maximize personal choice and freedom. Most importantly, bearing responsibility means freeing our minds, enjoying life, and coming up with great ideas.

“A lack of constraint means that you can not do everything that you want. In a perfect world this would be fine, but we don’t live in a perfect world. However everyone’s view of a perfect world is different, if this coincides with the law and you are happy, then you can be free still living under laws and legislations. If you believe that freedom is making your own choices then the only way that we can be “free” is if society does not exist.”

West discusses how just as personal freedom is vital to a healthy society, so is accountability for our actions. Freedom also has a negative side; it can be described as a lack of constraint in our choices. Without constraint, our actions may hurt others or even ourselves. Therefore, it must come with the responsibility to make these choices from a more thoughtful, educated perspective.

You might also be interested in our list of essays about effective leadership . You can also check out these articles and essays about attitude .

“Taking responsibility creates long term resilience and a sense of purpose. This sense of purpose can be fostered by taking responsibility for one’s self by engaging in self-care. Responsibility can also be developed on a familial and societal level, offering a sense of purpose proportional to your ability to contribute your unique abilities.”

Rose explores the importance of being responsible for one’s health. It gives us a sense of purpose and helps us build resilience; however, we must first be responsible for ourselves by practicing self-care. This includes resting, exercising, taking breaks, and going to the doctor if something is bothering us. This makes us more responsible for the people around us, allowing us to perform different societal roles. You might be inspired by these essays about success and essays about overcoming challenges .

4. The Beneifts of Being Responsible by Frank Terzo

“If we take care of our commitments, even if it something we might like to ignore, we feel better about ourselves. Each step we take towards being responsible and productive helps to raise our self-esteem and our relationships with friends, family and co-workers improve ten-fold. Being responsible pays big dividends – we have much less stress and chaos in our lives and we gain the respect of others.”

In this short essay, Terzo provides insight into the many benefits responsibility can provide you with. We must always be responsible, even if we might not feel like it, because it can improve our productivity, self-esteem, relationships with others, and overall peace. Though it might not always be easy, responsibility is key to achieving a happy life.

5. What It’s like to Feel Responsible for Everything by Duncan Riach

“I hold responsibility when others are not taking responsibility. I was holding all of the responsibility, guilt, and shame that Billy McFarland was disowning. It’s a survival mechanism that I developed when I was a child. I had a step-father who was some form of psychopath or malignant narcissist, a person who was completely out of control and completely irresponsible. The only way that I could feel safe in that environment was to try to hold the responsibility myself.”

Riach reflects on a habit by which he constantly felt responsible for things out of his control, things as minor as events he saw on television. He developed this habit due to his upbringing- his childhood and family life were less than ideal. He is fully aware of his problem but still struggles with it. His case is an excellent example of false responsibility.

6 Writing Prompts on Essays About Responsibility

Responsibility is, without a doubt, essential, but how important is it really? Reflect on the meaning of responsibility and explain its importance. Discuss this from a practical and personal standpoint; combine personal experience and research as the basis for your points.

False responsibility is an attitude by which one feels responsible for things they are not. This is a widespread issue that encompasses everyone, from humble workers to some of the most influential people in the world. For your essay, research this phenomenon, then define it and explain why it occurs. Give suggestions on how one can identify false responsibility and work to stop feeling that way.

The topics of freedom and personal responsibility are deeply intertwined; for freedom to work correctly, there must be a certain level of responsibility instilled in people so society can function correctly. In your essay, discuss these two concepts and their connection. Do proper research on this topic, then conclude this issue: are we responsible enough to be given total freedom? You may also link this to topics such as the law and regulations. You might be inspired by these essays about goals .

Social Responsibility seems straightforward and self-defining, but it is broad, especially with society putting a higher value on awareness, community, and social justice. Research this term and its history and discuss it in your essay; define and explain it, then describe what it means.

Whether in your studies or at work, as a family member, friend, or even a member of society, we have a unique set of responsibilities that vary depending on the person. Reflect on the different roles you play in life and decide what your responsibilities are. Briefly describe each one and explain how you fulfill these responsibilities. You can also check out these essays about conflict .

Responsibility as a component of success

This value is important because it is present in all successful individuals. Based on your opinions and research, discuss the relationship between responsibility, success, and some other factors or traits that influence success. Give examples of successful people who have shown responsibility, such as government officials, celebrities, and business leaders.

When we are responsible, we are pretty proud of ourselves most of the time. Think of an experience you are most proud of in which you acted responsibly. Retell the story, reflect on how you felt, and explain why it is important- be as detailed as possible. Or, you may opt to do the opposite, telling the story of a time you did not show responsibility and thinking of what you would do if given a chance to repeat it.

Grammarly is one of our top grammar checkers. Find out why in this Grammarly review . Tip: If writing an essay sounds like a lot of work, simplify it. Write a simple 5 paragraph essay instead.

Martin is an avid writer specializing in editing and proofreading. He also enjoys literary analysis and writing about food and travel.

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118 Social Responsibility Essay Topic Ideas & Examples

Inside This Article

Social responsibility is a crucial aspect of our society that involves individuals and organizations taking actions that benefit society at large. It involves being conscious of the impact of one's actions on the environment, society, and the economy. Writing an essay on social responsibility can help raise awareness about important issues and inspire others to take action. To help you get started, here are 118 social responsibility essay topic ideas and examples:

The importance of corporate social responsibility in today's business world
How companies can promote social responsibility through sustainable practices
The impact of social responsibility on consumer behavior
The role of government in promoting social responsibility
The ethical implications of social responsibility
The benefits of social responsibility for businesses and society
The relationship between social responsibility and environmental sustainability
How social responsibility can help address social inequality
The role of social responsibility in promoting diversity and inclusion
The impact of social responsibility on employee morale and productivity
How social responsibility can help businesses build trust with consumers
The challenges of implementing social responsibility initiatives
The role of social responsibility in shaping public policy
The impact of social responsibility on brand reputation
The role of social responsibility in disaster relief efforts
The benefits of social responsibility for small businesses
The role of social responsibility in promoting ethical leadership
The impact of social responsibility on employee retention
The relationship between social responsibility and corporate governance
The role of social responsibility in promoting economic development
The challenges of measuring the impact of social responsibility initiatives
The role of social responsibility in addressing climate change
The impact of social responsibility on shareholder value
The benefits of social responsibility for nonprofit organizations
The relationship between social responsibility and social entrepreneurship
The role of social responsibility in promoting community development
The impact of social responsibility on organizational culture
The challenges of balancing social responsibility with profitability
The role of social responsibility in promoting ethical supply chain practices
The benefits of social responsibility for employees and their families
The relationship between social responsibility and government regulation
The impact of social responsibility on employee engagement
The role of social responsibility in promoting social justice
The challenges of integrating social responsibility into business operations
The benefits of social responsibility for investors and shareholders
The relationship between social responsibility and corporate social responsibility reporting
The impact of social responsibility on brand loyalty
The role of social responsibility in promoting employee wellness programs
The benefits of social responsibility for local communities
The relationship between social responsibility and social media
The impact of social responsibility on organizational performance
The role of social responsibility in promoting ethical marketing practices
The challenges of implementing social responsibility initiatives in developing countries
The relationship between social responsibility and business ethics
The impact of social responsibility on employee satisfaction
The role of social responsibility in promoting sustainable development
The benefits of social responsibility for customers and consumers
The relationship between social responsibility and corporate philanthropy
The impact of social responsibility on organizational reputation
The role of social responsibility in promoting environmental conservation

These social responsibility essay topic ideas and examples can help you brainstorm ideas for your essay and explore different aspects of social responsibility. Whether you are writing about the role of businesses in promoting social responsibility or the impact of social responsibility on society, there are plenty of interesting topics to choose from. Remember to conduct thorough research and provide examples to support your arguments. By writing about social responsibility, you can raise awareness about important issues and inspire others to take action for the betterment of society.

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From there to here: 50 years of thinking on the social responsibility of business

It has now been 50 years since economist Milton Friedman asked and answered a fundamental question: What is the role of business in society?

Friedman’s stance was plain: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits.” That view has long influenced management thinking, corporate governance, and strategic moves. But more recently, many leaders have sought to expand that definition to consider all the stakeholders who stand to gain—or lose—from organizations’ decisions.

In 2019, Business Roundtable released a new “Statement on the purpose of a corporation,” signed by 181 CEOs who committed to lead their companies for the benefit of all stakeholders—customers, employees, suppliers, communities, and shareholders. The statement outlined a modern standard for corporate responsibility.

On the 50th anniversary of Friedman’s landmark definition, we look at how the conversation on corporate purpose has evolved.

The pre-1970 conversation

Even before Friedman’s essay published, the social responsibility of business was a topic of discussion. McKinsey, for example, was part of the early conversation about corporate purpose, which centered on the idea of improving performance and a belief that healthier corporations meant a healthier society. The firm’s earliest formal expression of its objectives spoke of the value of “advancing the profitableness and welfare of American business and hence the welfare of the country as a whole” (1937).

The discussion of corporations’ role in society continued to unfold in the 1950s and 1960s, when Columbia University and McKinsey presented a lecture series in which executives discussed the challenges of large organizations. Many of those talks became books that addressed the issues Friedman would soon take on.

Friedman’s seminal 1970 essay

On September 13, 1970, when Friedman published his landmark piece, “The social responsibility of business is to increase its profits,” in the New York Times , he wrote:

In a free-enterprise, private-property system, a corporate executive is an employee of the owners of the business. He has direct responsibility to his employers. That responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to their basic rules of the society, both those embodied in law and those embodied in ethical custom.

Like many businesses and thinkers, McKinsey has grappled with such ideas over the years. A 1971 statement of the firm’s goals highlights the role of profitability but acknowledges that it isn’t the sole social responsibility of business; consultants can also “do worthwhile things for society as well as to earn substantial financial rewards.”

Marvin Bower—McKinsey’s managing director from 1950 to 1967, who remained a vocal leader even after stepping down—also continued to emphasize the importance of enduring business values, which could be translated into societal as well as business impact:

Outside the service for which we are compensated, each of us has an opportunity, through the firm, to serve the society of which [we are] a part. Our knowledge of the problem-solving process enables us to contribute disproportionately to the welfare of our communities.

The 1980s and 1990s: An expanded global view

Management attention started to go global in the 1980s. The business world examined how Japanese companies in particular were revolutionizing manufacturing to compete against once-dominant Western players. Political and social changes were also afoot, and the shift toward globalization took hold.

McKinsey managing director Fred Gluck (1988–94) called on the firm to raise its sights and expand its horizons:

Beginning with a memo not two weeks before the Berlin Wall came down, he urged his partners to expand their vision beyond their usual business clients. As the world’s best problem solvers, he argued, McKinsey should aspire to advise national and world leaders on global issues like poverty, European integration, and the environment. It should help design and implement the reforms that were certain to follow in the wake of the revolutions unfolding in Eastern Europe, the Soviet Union, and Asia. Though not universally shared, Gluck’s call to action struck a chord with many firm leaders. … They were being challenged to help change the world.

The McKinsey Global Institute was founded in this era, looking to generate fresh insights through serious research that integrated the disciplines of economics and management. And although work continued to prize financial impact for clients, the thinking around future impact continued to expand.

The 2000s and 2010s: A focus on longer-term, inclusive growth

Technological advances may have facilitated globalization, but the dot-com crash of the early 2000s and ensuing changes—to say nothing of the global financial crisis of 2008—brought discussion on the social responsibility of business into the zeitgeist.

In a 2006 interview, McKinsey’s former London office manager Peter Foy reflected:

I have real misgivings about the way that [business] changed. Because the minute the world … changed from building great companies and keeping shareholders happy to serving shareholders on a quarterly delivery, wealth-creation basis … you changed everything in the business system. The motivation of the CEO, and the organization, and the time you spend on it all.

The conversations also entered the realm of public ideas. One particularly powerful statement in the March 2011 Harvard Business Review article “ Capitalism for the long term ,” penned by McKinsey managing partner Dominic Barton, called for business-led reform to go beyond quarterly capitalism:

This shift is not just about persistently thinking and acting with a next-generation view—although that’s a key part of it. It’s about rewiring the fundamental ways we govern, manage, and lead corporations. It’s also about changing how we view business’s value and its role in society.

Barton later helped found the not-for-profit Focusing Capital on the Long Term, which encourages long-term investing and business decision making.

Additionally, the McKinsey Quarterly marked its 50-year anniversary with a special edition on the future of management. One key theme: Corporate longevity and a long-term view of performance.

2019, the Business Roundtable statement, and what lies ahead

On August 19, 2019, the Business Roundtable issued its latest statement on the purpose of a corporation :

Businesses play a vital role in the economy by creating jobs, fostering innovation and providing essential goods and services. Businesses make and sell consumer products; manufacture equipment and vehicles; support the national defense; grow and produce food; provide health care; generate and deliver energy; and offer financial, communications and other services that underpin economic growth. While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders.

The statement was endorsed by 181 CEOs (along with McKinsey global managing partner Kevin Sneader ), each committing to leading their companies for the benefit of all stakeholders—customers, employees, suppliers, communities, and shareholders.

Echoes of that statement continue to resonate today, even as leaders navigate crises and contemplate the next normal beyond coronavirus . As Marc Goedhart and Tim Koller note in “ The value of value creation ”: “Long-term value creation can—and should—take into account the interests of all stakeholders.” And Sneader and his coauthors underscore it as a top-management ethos in a new article on the CEO moment :

[The] COVID-19 pandemic has laid bare the profound interconnectedness between businesses and the broader world in which they operate. … Employees, customers, and stakeholders expect a CEO to articulate where the company stands on critical issues.

What lies ahead on this topic? Write to us .

This article was conceptualized, illustrated, and edited by McKinsey Global Publishing colleagues Mike Borruso , Torea Frey , Gwyn Herbein , Philip Mathew , Janet Michaud , and Nathan Wilson , with Paul Lasewicz , our archivist, guiding us on this walk through history.

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The Role of Social Responsibility and Ethics in Employees’ Wellbeing

Claudiu george bocean.

1 Department of Management, Marketing and Business Administration, Faculty of Economics and Business Administration, University of Craiova, 13 AI Cuza Street, 200585 Craiova, Romania

Michael Marian Nicolescu

2 Doctoral School, University of Craiova, 13 AI Cuza Street, 200585 Craiova, Romania; moc.liamg@nairamleahcimucselocin (M.M.N.); moc.liamg@mbtnairamucazac (M.C.); moc.liamg@9691uirtimudanomis (S.D.)

Marian Cazacu

Simona dumitriu, associated data.

Not applicable.

Social responsibility (SR) is a concept or practice by which organizations take into account the interest of society by taking responsibility for the impact of their activities on all stakeholders. The SR of organizations implies ethical behavior concerning all stakeholders and a company’s commitment to the sustainable economic development of society. Organizational ethics is a set of written and unwritten codes of principles and values that govern decisions and actions within an organization. Ethics has a rather internal perspective, while social responsibility has a rather external perspective. This study examines the impact of social responsibility and organizational ethics on employees’ wellbeing. To perform the empirical analysis, we conducted a survey among 423 employees from Romanian organizations. Using the structural equation modeling, we analyzed the relationships between social responsibility, organizational ethics, and employees’ wellbeing, emphasizing the positive impact of ethical and responsible behavior of the organization on the employees’ wellbeing. The organization’s employees play a dual role: firstly, they are all internal stakeholders, and secondly, they are constituents of an external stakeholder essential for the organization—the community. The results show a significant positive influence of social responsibility and organizational ethics on employees’ wellbeing as a result of a responsible and ethical behavior in relation to the organizational stakeholders.

1. Introduction

The modern organization is an entity with a substantial social impact due to its ability to mobilize productive resources and create new wealth. However, the organization’s legitimacy depends not only on success in creating wealth but also on its ability to meet the expectations of the various stakeholders that contribute to its existence and success.

Social responsibility (SR) concerns implementing ethical behavior and attitude in the organization, providing a perspective on core values and organizational culture to promote responsible behavior towards staff. Organizational ethics (OE) influence practices in the field of social responsibility. It is in the interest of every organization to develop and incorporate elements of both OE and SR into its agenda, as the challenges of an increasingly globalized economy with stringent sustainability requirements will require an integrated approach of OE and SR to support the sustainable development of organizations [ 1 , 2 ].

To be sustainable, organizations need to identify innovative ways to balance the social and environmental needs of internal and external stakeholders (employees, unions, community) with the economic (financial) needs of internal and external stakeholders (shareholders, employees, suppliers, customers, tax administrations) [ 3 , 4 , 5 ]. External SR extends to the community and society, including environmental concerns, while internal SR addresses the organization’s human resources [ 6 ]. In addition, internal SR focuses on strategies and practices to improve employee health and wellbeing (WB) [ 7 ], human rights [ 8 ], training and development [ 9 , 10 ], ensuring equal opportunities in business [ 11 ], and work–life balance [ 12 ].

Although most studies show a significant relationship between SR and OE practices, these relationships are neither universal nor consistent [ 13 ]. Therefore, investigating the different dimensions of SR practices concerning the dimensions of OE is necessary to integrate the two concepts and evaluate the combined effects on the employees’ WB and the community in which the organization operates.

Although the impact of SR and OE on economic, social, and environmental performance has long been analyzed, not many studies examine the effects of SR and OE on employees’ WB. Despite the awareness that employees are a key internal stakeholder whose motivation depends on the organizational success, being at the same time a constituent part of a critical external stakeholder (the community in which the organization operates), there are a few studies in the area.

The research gap that the paper aims to cover comes from the lack of work to study the combined effect of OE and SR on employees’ WB. Since organizational employees are an essential category of internal stakeholders, the organization must pay special attention to SR and OE; these significantly affect employees’ WB. This study’s objectives involve analyzing the direct relationships among employees’ perceptions of SR, OE, and WB, and the mediation effects between the variables considered. By studying these objectives, this study aims to understand better cause-and-effect relationships on how SR and OE can influence employee WB. The paper structure has six sections. The introduction and literature review approach the research topic from a theoretical point of view. Section 3 and Section 4 describe the research design and results. The last two sections provide discussions and conclusions of the research.

2. Literature Review

2.1. social responsibility.

SR is the moral responsibility of an organization toward the community in which it operates in particular and towards society in general [ 4 , 14 ]. SR is a concept that has received multiple definitions, and there are various classifications of its dimensions: the economic, legal, ethical, and philanthropic dimensions [ 15 ] and the economic, social, environmental, stakeholder, and volunteer dimensions [ 16 ]. Davis and Blomstrom argue that the substance of SR stems from the ethical “obligation” of the organization to assess the effects of its decisions and actions on the entire social system [ 17 ]. At the same time, [ 18 ] identifies the gap between the concept of SR and practice. Other authors [ 15 , 19 , 20 ] looked at SR in terms of organizational efforts to meet the needs of different categories of stakeholders. For example, McWilliams and Siegel [ 21 ] saw in SR an increase in the social interests of business organizations or a commitment to increase the reputation and improve the image by diminishing the community’s negative perception of the organization [ 22 ]. Matten and Moon considered SR to be a component of the organization’s strategic policy that illustrates its interest in social issues, not just the primary goal of profit maximization [ 13 ]. Aguinis considers that SR represents those actions and policies that meet stakeholders’ expectations to maximize results in three areas: economic, social, and environmental [ 6 ].

An issue increasingly addressed by an employer is employee involvement in SR actions [ 23 ]. Such employer behavior brings social benefits and plays an essential role in ensuring employees’ WB, directly affecting the satisfaction, commitment, and loyalty of current employees and leading to greater motivation, increased productivity, and a greater propensity to innovate [ 24 , 25 ]. In addition, when employees identify the organization’s commitment to socially responsible behavior, they tend to have more responsible attitudes that correlate with better performance due to improved relationships between employees and other stakeholders [ 26 ].

2.2. Relationships between Organizational Ethics and Social Responsibility

According to [ 27 ], philanthropic responsibilities stem from the philosophical, ethical tradition of concern for what is good for society and justify organizations to help improve the quality of life of different stakeholders and the community. Reich points out that SR is nothing more than intelligent management covered by the language of morality and ethics. Only organizations which aim to adhere to all universally accepted ethical standards can expect a positive attitude and support from society [ 26 , 28 ]. Moreover, solving the problems that affect the community and society leads to competitive advantages for the organization. Nord and Fuller saw corporate SR as a matter of higher-level strategy. They linked it to the conceptualization of organizational change, raising awareness of an alternative model that would complement the strategic vision and add an ethical dimension [ 23 , 24 , 29 ].

At the same time, managers have developed practices related to OE and SR within their organizations. There are many reasons why organizations implement these practices: reducing costs, mitigating risks, gaining legitimacy, gaining a competitive advantage, and creating new value [ 30 ]. In addition, researchers and managers have recommended aligning these practices within organizations [ 23 , 24 , 26 , 31 , 32 , 33 , 34 ]. Still, there is little empirical research exploring the impact of alignment or why it has not become a common practice within organizations. Based on these considerations, we formulated the following research hypothesis:

Employees’ perception of OE directly positively affects employees’ perception of SR.

2.3. Employees’ WB

The community includes individuals in constant interaction in a particular space where they live and work [ 35 ]. In addition to the spatial dimension, a community may be determined by the common interest of its members [ 36 ]. Given that interactions between individuals within the community include several dimensions (psychological, cultural, spiritual, social, economic, and natural) [ 37 ], meeting all the needs of individuals related to these dimensions confers a WB status. Consequently, WB also includes the social, economic, environmental, cultural, and political dimensions [ 38 ].

The concepts of health and WB are often used together and sometimes even interchangeably. However, health refers to an individual’s physiological or psychological indicators [ 39 ], while WB is a more comprehensive concept that aim to describe the individual’s general condition in a social context [ 40 , 41 ]. Therefore, WB consists appropriately of non-contextual measures of life (e.g., life satisfaction, happiness), general considerations (e.g., job satisfaction), and more specific dimensions (e.g., salary satisfaction, good workplace).

WB includes the individual’s general satisfaction regarding privacy, social relationships, work environment, and reduced stress [ 42 , 43 , 44 ]. Therefore, employers’ concern for ensuring a better job for their employees and a WB status was considered a component of SR, which is part of ethical behavior.

The concept of WB has therefore been approached in the paradigm of the multidimensionality of human, social, and economic capital [ 45 ]; physical, psychological, social, and economic WB [ 46 ]; and social, environmental, economic, health, political, physical, and residential dimensions [ 47 ]. The economic dimension is manifested by providing sufficient income, job stability, and existing opportunities in the labor market [ 47 , 48 ]. The social dimension includes income and profession that offer a certain social status [ 37 , 49 ] and concepts such as security, community spirit, cohesion, trust, reciprocity, involvement, and informal interaction [ 5 , 37 , 47 ].

Employers want to improve employee wellbeing because lowering WB can lead to unhappiness, decreased productivity, and increased stress and anxiety, eventually leading to a high turnover [ 44 , 50 , 51 , 52 ]. Therefore, as a dimension of relationships and social status, employees’ WB can be considered an objective of SR concerning its human resources and work environment [ 53 ].

The WB concept integrates employees’ status at and outside the workplace: job satisfaction or dissatisfaction, reward, working relationships, working conditions, friendly work environment, promotion opportunities, care for the environment, and interest in the general health community. WB is a complex and multifaceted construct [ 54 ], balancing between objective indicators (life standards) and subjective measures (psychological, social, and spiritual aspects) [ 55 ].

Other authors have added to the social dimension the interaction between individuals in the family, at home, and in neighborhoods [ 56 ] or education [ 38 ]. The environmental dimension includes the perception of individuals about the place where they live, with a solid psychological load for individuals. McCrea et al. [ 47 ] suggested that environmental satisfaction, green areas, transport, air quality, energy quality, and sustainability are crucial indicators of WB [ 37 , 45 , 47 , 57 , 58 , 59 ].

2.4. Relationships between Employees’ WB, SR, and OE

SR is a social obligation of the organizations to decide and act responsibly following the objectives and values of society [ 60 ]. Currently, SR is perceived as a continuous commitment of organizations to behave ethically and contribute to the economic development of the community and society in which the organization operates by improving the quality of human WB, through involvement in the local community and society. SR is the basis of sustainability, competitiveness, and innovation and is a strategic advantage of any organization [ 61 , 62 , 63 , 64 ]

Due to the potential impact of organizations on WB employees and the community in which they operate, ethical behavior and SR programs are of great importance for overall WB [ 65 ]. In this context, Chowdhury et al. proposed an SR and OE reporting on stakeholder health and WB [ 66 ], based on the Global Reporting Initiative (GRI) sustainability reporting standards. Cheng et al. [ 67 ] suggest that if SR activities do not live up to employees’ expectations, they generate mistrust of organizations, leading to reduced commitment [ 34 , 67 , 68 ] and WB and increasing turnover rates [ 67 ]. Various authors [ 67 , 68 , 69 , 70 , 71 ] have studied the impact of employees’ perceptions regarding CSR and organizational ethics on outcome measures: employee satisfaction, turnover rates, and overall organization sustainability. Consequently, examining and monitoring employees’ perceptions regarding SR and OE is beneficial for the organization’s human resources management and strategic management to meet the expectations of all stakeholders, especially employees [ 67 , 68 , 69 , 72 ].

Based on the relationships between OE, SR, and WB described in the literature, we formulated the following research hypothesis:

Employees’ perception of SR and OE directly positively affects employees’ perception of WB.

Internal stakeholder-oriented SR programs target WB employees by obtaining employee satisfaction based on meeting the expectations of their organizations [ 73 ]. Employees have an ethical expectation towards their organizations in terms of job stability, recognition and appreciation, fairness of rewards, opportunities for professional and personal development, freedom of association in trade unions, work–life balance, involvement in decisions, autonomy, participation in organizational decisions, and involvement of the organization in the community [ 74 ]. In addition, organizations will invest in ethical health and safety management practices that impact the company’s performance [ 75 ].

Occupational health and safety (OHS) promote human resource management, safety, occupational safety, physical and mental health, and in general, an essential part of the WB of human resources [ 76 , 77 , 78 , 79 ]. WB incorporates the employee’s physical, emotional, and mental wellbeing, exerting a significant positive impact on achieving objectives [ 74 , 77 , 80 , 81 ]. However, several authors [ 82 , 83 ] have highlighted the need to see the health and wellbeing of employees beyond the work environment by taking into account other ethical factors related to other areas of human resources: the process of training and development [ 9 , 10 ], ensuring equal opportunities in business [ 11 ], work–life balance [ 12 ], job stability, and existing options in the labor market [ 47 , 48 ].

Researching employees’ perceptions and attitudes towards SR, OE, and WB is important [ 34 , 84 , 85 ] because it can lead to seeking opportunities for better implementation of responsible and ethical social practices and initiatives. In addition, companies are increasingly recognizing the strategic importance of OE and SR in ensuring employees’ WB and the sustainability of their business [ 69 , 84 , 86 ], as well as employee satisfaction in implementing SR programs and ethical conduct.

Based on these considerations, we formulated the following research hypothesis:

Employees’ perception of OE has significant indirect positive effects on their perception of WB, mediating their perceptions of SR.

Figure 1 shows the conceptual model of the research on the relations between SR, OE, and WB.

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Conceptual model. Source: designed by authors.

3. Methodology

3.1. research design.

To study the impact of SR and OE on employees’ WB, we conducted quantitative research in a survey among employees of Romanian companies.

The data collected in a database were subjected to descriptive and inferential statistical analyses. To determine the intensity and meaning of the relationships between the research variables, we used structural equation modeling and artificial neural network analysis. Finally, the obtained results confirmed the hypotheses’ validity based on the literature. Figure 2 illustrates the research process.

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Research process. Source: own construction.

3.2. Selected Sample

To perform the empirical analysis, we conducted a survey based on a questionnaire filled by 423 employees from Romanian organizations, small and medium enterprises, and large corporations between March 2022 and May 2022. The sampling method chosen was random stratified sampling. The target population of the research is the employees in Romanian private companies, comprising 4,500,000 individuals. The sample of 423 individuals was selected with a level of confidence of 95%, with a margin of error of 4.762%. Table 1 describes the descriptive statistics for the selected sample.

Descriptive statistics.

Source: designed by authors using SPSS v.20 (SPSS Inc., Chicago, IL, USA).

Employees were selected in the sample using the economic sector criterion: 9.9% in agriculture, 29.8% in industry, and 60.3% in services (including technology and communications). The sample structure according to the size of the companies from which the employees come is as follows: 40% of the employees come from small and medium companies, 40.2% come from large companies, and 19.8% come from multinational companies. Within the sample, 68.15% are male and 31.85% are female. Regarding the age, 9.95% are under 30 years old, 69.93% are between 31 and 55 years old, and 20.12% are over 55. In addition, 19.8% of respondents have received secondary education, and 80.2% have studied a higher degree. Over 60.3% of respondents have more than ten years of work experience, and over 60.2% have more than ten years of experience in the organization. Most respondents are subordinates, with only 19.81% being managers. Depending on the income category, over 43.32% of respondents have a net income above the average net salary in the economy.

3.3. Research Tools and Methods

The design of this study involved conducting a survey based on a questionnaire applied to employees of Romanian organizations. The questionnaire contains the socio-economic-demographic variables that characterize SR, OE, and WB. We evaluated the impact of SR and OE on WB empirically by using statistical methods for modeling structural equations (SEMs) in the partial least squares (PLS) variant using a procedure described by [ 87 , 88 ], similarly used by [ 89 , 90 ]. The initial literature review established measures for each construct and the reliability and validity of variables using various statistical tests (Cronbach’s Alpha, Composite Reliability, and Average Variance Extracted). We built items for SR and OE based on previous research. SR includes five dimensions describing the levels of responsibility: responsibilities to shareholders (increasing the organizational value); responsibilities to employees, unions, customers, and suppliers (societal welfare, organizational SR philosophy); responsibilities to central and local public authorities and the community (organizational citizenship); and responsibilities to society (societal contribution). The items concerning SR, which define the levels of responsibility, were defined based on [ 15 , 91 , 92 , 93 ]. OE includes five dimensions describing the ethical principles in the organization: transparency, fair competition, respect for the customer, employees’ wellness, and sustainability, as stated in other research [ 8 , 15 , 33 , 89 ]. The WB scale was established based on the TINYpulse questionnaire [ 94 ], using the eight dimensions for WB: general WB, emotional WB, environmental wellness, intellectual WB, occupational WB, physical health, and social WB. To measure the variables SR, OE, and WB, we used a five-level Likert scale (5—total agreement, 4—partial agreement, 3—agreement, 2—partial disagreement, 1—total disagreement).

The exogenous variables (the items of the questionnaire) which characterize SR, OE, and WB are presented in Table 2 .

Exogenous variables.

Source: designed by authors based on [ 75 , 76 , 77 , 78 ].

The self-administered questionnaire results can be affected by common method bias (CMB) [ 95 ]. We tested all variables using Harman’s single-factor test using principal component analysis. The extracted variance was below 50% (45.329%), attesting to no significant common method bias effects [ 95 ].

We used structural equation modeling (SEM) in the partial least square variant (SmartPLS 3.0 software: SmartPLS GmbH, Oststeinbek, Germany) to validate the three hypotheses. The model has three unobservable latent variables: SR, OE, and WB. Each of the three latent variables depends on a series of observable exogenous variables defined by the items in the questionnaire. Figure 3 shows the exogenous variables for each latent variable.

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Preliminary model. Source: designed by authors using SmartPLS 3.0 (SmartPLS GmbH, Oststeinbek, Germany).

Following the methodology described by [ 88 ], we eliminated from the model those items that have an outer loading below 0.7, considering the lower influence of these items on the latent determinant variables. Figure 4 presents the resulting model.

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Model applied. Source: designed by authors using SmartPLS 3.0 (SmartPLS GmbH, Oststeinbek, Germany).

The validity and reliability of the model were tested following the procedure described in [ 87 , 88 ]. All three indicators, namely Cronbach’s Alpha, Composite Reliability, and Average Variance Extracted), recorded good values ( Table 3 ). In the model, SRMR recorded a value of 0.048, and NFI recorded a value of 0.934.

Validity and reliability.

Source: designed by authors using SmartPLS 3.0 (SmartPLS GmbH, Oststeinbek, Germany).

Finally, running a bootstrapping process, we determined the path coefficients and specific indirect effects in our model for assessing the role of SR and OE in ensuring employees’ WB ( Table 4 ).

Path coefficients and specific indirect effects.

Analyzing the path coefficients and specific indirect effects in Table 4 , we affirm that all three hypotheses are valid. The organizations’ ethical practices positively affect SR programs in employees’ perception. The two sustainability constructs (OE and SR) positively impact employees’ WB. In addition to the direct effect on WB, the organization’s ethical behavior has substantial indirect effects on WB, with an SR program based on ethical principles and values as a mediating variable.

5. Discussions

The relationship between SR, OE, and WB has not frequently been subject to an evaluation process in the literature on SR and OE. However, there is a recognition that this relationship can contribute to establishing sustainable jobs to ensure WB at the individual level and welfare at the societal level. In recent years, several researchers have conducted empirical studies to determine the impact of SR programs on work results from the perspective of stakeholders (including employees) [ 34 , 96 , 97 , 98 , 99 ]. Employees are key stakeholders who, once satisfied, can positively influence the implementation of SR programs [ 97 ]. Therefore, employees’ perceptions of SR shape the community’s view of organizations [ 96 ]. In addition, employees with a good level of WB can improve and stimulate SR programs and ethical behavior that promotes all stakeholders’ wellbeing, including employees [ 34 ].

Employers improve employee WB because low WB can produce unhappiness, lower productivity, and increased stress and anxiety, eventually leading to a high turnover rate [ 44 , 50 , 51 , 52 , 67 ]. Therefore, employees’ WB is an objective of SR programs concerning its human resources and work environment [ 53 ], ensuring employee commitment [ 68 ]. Researching the relationships between the variables of the researched model, SR and OE can contribute to increasing economic, social, and environmental performance and the health and wellbeing of employees, as we have demonstrated by confirming the validity of the H2 hypothesis.

The conceptual model in this study, which reveals the relationship between corporate SR and OE, also aims to help integrate and facilitate the implementation of SR activities and tools to ensure ethical conduct in organizations. Various authors have pointed out the need for a unified theory regarding SR and OE because there is much confusion and redundancy between the dimensions of the two concepts [ 27 , 30 , 33 , 89 ]. In our research, we tested the relationship established between SR and OE by confirming the validity of the H1 hypothesis. Combining these two areas can provide sustainability to organizations and ensure employees’ WB and that of the community they operate in [ 20 ].

Many studies have attempted to understand the impact of SR and ethical practices on employees’ satisfaction, a constituent of employees’ WB [ 34 , 84 , 85 , 100 , 101 , 102 , 103 , 104 , 105 , 106 , 107 ]. Researching employees’ perceptions and attitudes towards SR, OE, and WB is important [ 34 , 84 , 85 ] because it can lead to seeking opportunities for better implementation of responsible and ethical social practices and initiatives. In addition, employees’ satisfaction provides an insight into the emotional state of work experience and environment [ 108 ], directly contributing to organizational performance [ 73 ]. Although employees’ satisfaction is an essential component of employee WB, it is not just about satisfaction. There are several areas of SR that address job satisfaction aspects: job stability; employee status; fair pay; social benefits; occupational safety and health; work–life balance and employment opportunities; training and personal development; cordial labor relations; and a work environment characterized by communication, transparency and social dialogue, equal treatment, and equal opportunities [ 34 , 75 , 84 , 109 ]. Satisfaction is directly related to work, while WB also covers general aspects of general physical and mental health, relationships in the social environment, social status, care for the environment in which they live, and the individual’s connection to the community and society in general.

Programs in the SR area stimulate the improvement of health, the environment, and involvement in educational activities, acting as an essential mechanism for mediating between the organization’s ethical practices and improving employees’ and communities’ WB [ 110 ], as demonstrated by the confirmation of the validity of Hypothesis H3. Companies are increasingly recognizing the strategic importance of OE and SR in ensuring employees’ WB and the sustainability of their business [ 69 , 84 , 86 ], as well as employee satisfaction in implementing SR programs and ethical conduct. Organizations that promote health and safety management practices and ensure an adequate work environment [ 88 ] benefit from increased employee engagement, as the organization demonstrates an interest in employees’ WB. Rela et al. showed that other factors, such as community capacity and motivation, government policy, and other stakeholders’ contributions, influenced WB [ 5 ].

The results of our research are in line with the results of previous research showing that ethical issues can have a significant impact on physical health and spiritual wellbeing.

6. Conclusions

The research results indicate that the variables SR and OE have significant and positive influences on WB dimensions, consistent with previous studies showing a significant relationship between these constructs [ 4 , 111 , 112 , 113 , 114 , 115 , 116 , 117 ]. SR contributes to the satisfaction of employees’ interests related to WB dimensions (health, education, economy) and OE by inducing ethical behavior and attitudes that contribute to increasing WB. Research results confirm that SR programs and ethical behavior contribute to the employees’ wellbeing.

6.1. Practical Implications

Although OE activities and SR programs target both stakeholders, the present research focused on critical internal stakeholders (employees), given their dual nature. Employees are also constituents of an essential category of external stakeholders—the community. The research results confirmed the importance of SR and OE for improving employee wellbeing, SR being a mediating factor between OE and WB. These results support an essential mechanism by which OE activities and SR programs can increase WB, especially when the organization does not have sufficient resources to motivate employees and ensure job satisfaction. Employee satisfaction with job stability issues, guaranteeing a friendly work environment, caring for the environment in which they live, and organizational involvement in community social causes can all contribute to the overall WB of employees.

6.2. Theoretical Implications

Three issues can be highlighted as theoretical implications of this research. First, most studies have focused on external stakeholders [ 118 , 119 , 120 , 121 ], with few focusing on the positive effect of OE activities and SR programs on internal stakeholders. Second, while many types of research have addressed various facets of wellbeing (psychological, health, occupational wellbeing, etc.) [ 118 , 122 , 123 , 124 ], this study aimed at a holistic approach to the concept of WB. Although SR depends on the macroeconomic and organizational context, the main expectations for organizations are reducing poverty in the community and society in general, caring for the environment, improving public health, increasing employee WB, and an increasingly efficient educational process.

6.3. Limitations and Recommendations for Future Research

The analysis revealed a direct positive effect of SR and OE on employees’ WB. However, organizational ethics have a significant indirect positive impact on WB through SR programs that induce ethical conduct and the attitude of employees. These results should take into account various limitations of the research. First, the research only targets a category of stakeholders (employees) with a dual nature (internal and external) by their presence in the organization’s community. Secondly, the research was carried out only among the employees of some Romanian organizations, making it impossible to consider cultural differences between employees from different countries. Finally, the transversal approach to research provides more information through the results obtained, but does not offer a perspective on the evolutions of perceptions over time as a longitudinal approach.

Future research may address some of these limitations. In addition, future research may focus on studying the effects of moderating factors, such as communication, reputation, and organizational culture. Furthermore, there is a need for a deep investigation of the OE practices’ integration and alignment with SR programs to support a more synergistic impact on WB.

Funding Statement

This research received no external funding.

Author Contributions

Conceptualization, C.G.B., M.M.N., M.C., and S.D.; methodology, C.G.B.; software, C.G.B.; validation, C.G.B., M.M.N., M.C., and S.D.; formal analysis, C.G.B.; investigation, C.G.B., M.M.N., M.C., and S.D.; writing—original draft preparation, C.G.B., M.M.N., M.C., and S.D.; writing—review and editing, C.G.B., M.M.N., M.C., and S.D.; project administration, C.G.B. All authors have read and agreed to the published version of the manuscript.

Institutional Review Board Statement

Informed consent statement, data availability statement, conflicts of interest.

The authors declare no conflict of interest.

Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations.

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Greed Is Good. Except When It’s Bad.

Sept. 13 is an important date in the world of business. Fifty years ago on that day — today — Milton Friedman published a seminal essay in The New York Times Magazine that is still hotly debated in business and policy circles. DealBook teamed up with The Times Magazine to revisit the legacy of the so-called Friedman Doctrine in a special issue out today in print. This newsletter runs through some of the highlights, along with bonus material and other features to mark the occasion.

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A free market manifesto that changed the world, reconsidered

It was the essay heard round the world. Milton Friedman’s “ The Social Responsibility of Business Is to Increase Its Profits ” laid out arguably the most consequential economic idea of the latter half of the 20th century. The essay, published in The New York Times Magazine on Sept. 13, 1970, was a call to arms for free market capitalism that influenced a generation of executives and political leaders, most notably Ronald Reagan and Margaret Thatcher.

Mr. Friedman, who was on the faculty of the University of Chicago and who died in 2006 at 94, was no mere economist; he was a kind of celebrity. He became a regular on the talk-show circuit. PBS even gave him a 10-part series. Fifty years later, his theories on the primacy of shareholders and the priority of profits still hold sway over large parts of the corporate world.

We wanted to mark the occasion by stirring a series of discussions and debates, so we assembled more than 20 experts — including C.E.O.s, Nobel laureates and other top thinkers — and asked them to respond to the essay. Some addressed specific passages, and others took on the entire argument. A selection of their responses is below; you can read extended versions online and see all of the annotations in the context of the full original essay in print.

Friedman: “The Social Responsibility of Business Is to Increase Its Profits”

• Marc Benioff , chief executive of Salesforce

I’ll never forget reading Friedman’s essay when I was in business school in the 1980s. It influenced — I’d say brainwashed — a generation of C.E.O.s who believed that the only business of business is business. The headline said it all. Our sole responsibility to society? Make money. The communities beyond the corporate campus? Not our problem.

I didn’t agree with Friedman then, and the decades since have only exposed his myopia. Just look where the obsession with maximizing profits for shareholders has brought us: terrible economic, racial and health inequalities; the catastrophe of climate change. It’s no wonder that so many young people now believe that capitalism can’t deliver the equal, inclusive, sustainable future they want.

Friedman: “What does it mean to say that ‘business’ has responsibilities?”

• Howard Schultz , emeritus chairman of Starbucks

I’ve asked this question since opening my first coffee shop in 1986. My answer, a rebuke of Friedman’s single-minded focus on profits, appeared in our company’s original mission statement: “We wish to be an economic, intellectual and social asset in communities where we operate.” We would do this not at the expense of profits, but to grow them.

If Friedman had balked, asserting that Starbucks could have performed even better without these “socially responsible” activities, I would have told him what I told an institutional investor who wanted me to slash health care costs during the Great Recession, or what I said to a shareholder in 2013 who falsely claimed that Starbucks’s support of gay rights hurt profits: If you feel you can get a better return elsewhere, you are free to sell your shares.

In 2013, I stood in front of Starbucks shareholders and posed this question: “What is the role and responsibility of a for-profit public company?” Friedman’s flawed answer is not his legacy. His legacy is the question itself — which today’s leaders must answer with a renewed commitment to balancing moral purpose and high performance.

____________________________

Today’s DealBook Briefing was edited by Andrew Ross Sorkin in Connecticut and Jason Karaian in London.

Friedman: “In a free-enterprise, private-property system, a corporate executive is an employee of the owners of the business. He has direct responsibility to his employers. That responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom.”

• Marianne Bertrand , professor of economics at the University of Chicago Booth School of Business

The shareholder-primacy view of the corporation — which gives little voice to the workers, customers and communities that are impacted by corporate decisions — has been the modus operandi of United States capitalism. Why did this view become so dominant? One rationale was a practical one. Rather than being asked to balance multiple, often conflicting, interests among stakeholders, the manager is given a simple objective function. More important, though, was the naïve belief, dominant in the Chicago school at the time, that what is good for shareholders is good for society — a belief that rested on the assumption of perfectly functioning markets. Unfortunately, such perfect markets exist only in economics textbooks.

• Daniel Loeb , chief executive of Third Point

Friedman’s timeless essay resonates today as corporate America embraces “stakeholder capitalism,” a popular concept that is inconsistent with the law. Stakeholder capitalism distorts the incentive that prompts investors to risk their capital: the promise of a profit on their investment. So, I share Friedman’s concern that a movement toward prioritizing ill-defined “stakeholders” might allow some executives to pursue personal agendas — or simply camouflage their own incompetence (until it is starkly revealed by poor shareholder returns).

Friedman: “This process raises political questions on two levels: principle and consequences.”

• Erika Karp , chief executive of Cornerstone Capital Group

Friedman makes the mistake of not including two words: “long term.” Had he talked about “long-term principle and long-term consequences,” businesses might be more thoughtful about deploying financial capital, natural capital and human capital. Respect for the value of each form reinforces the long-term value of the other. Friedman once said: “Governments never learn. Only people learn.” And so, investors and corporations have learned a better and more holistic way to serve our shareholders for the long term. That is free-market economics for the 21st century.

Friedman: “This is the basic reason why the doctrine of ‘social responsibility’ involves the acceptance of the socialist view that political mechanisms, not market mechanisms, are the appropriate way to determine the allocation of scarce resources to alternative uses.”

• Joseph Stiglitz , professor of economics at Columbia University, was awarded a Nobel Prize in 2001

By the time he wrote this essay, Friedman, who had done distinguished analytic and empirical work in economics, had become largely a conservative ideologue.

I gave a talk at the University of Chicago around this time, presenting an early version of my research establishing that in the presence of imperfect risk markets and incomplete information — that is, always — firms pursuing profit maximization did not lead to the maximization of societal welfare. I explained what was wrong with Adam Smith’s invisible-hand conjecture, which said that the pursuit of self-interest would lead, as if by an invisible hand, to the well-being of society. During the seminar, and in extensive conversations afterward, Friedman simply couldn’t or wouldn’t accept the result; but neither, of course, could he refute the analysis — it has been a half-century, and my analysis has stood the test of time. His conclusion, as influential as it was, has not.

Today the downside of Friedman’s perspective is even darker: Is it Mark Zuckerberg’s social responsibility to allow wanton disinformation to roam over his social media platform? Is it Zuckerberg’s responsibility to lobby to get rid of a pesky foreign competitor while fighting for his company to be free from anti-competitive restraints and any accountability, so long as it increases his bottom line? Friedman would say yes. Economic theory, common sense and historical experience suggest otherwise. It is good that the business community has awaked. Now let’s see whether they practice what they preach.

Friedman: “They can do good — but only at their own expense.”

• Dambisa Moyo , global economist and the author, most recently, of “Edge of Chaos.”

The heart of what Friedman was saying remains largely true, but I have a fundamental problem with this sentence. For most corporations today, the question of “doing good” has become an existential question. Companies operate as going concerns — they want to survive. They face technological changes, changes in consumer preferences, changes in regulation, and these changes are forcing companies not to fight against the changes but to adapt. Take the example of a pharmaceutical company searching for a solution for cancer. The goal is a social good. From the companies’ perspective, they’re on the same page as society. The pursuit of profit does not need to run counter to what will benefit society. In some cases the interest of the corporation is absolutely married to the social good.

Friedman: “To illustrate, it may well be in the long-run interest of a corporation that is a major employer in a small community to devote resources to providing amenities to that community … ’

• Glenn Hubbard , professor of economics at Columbia Business School

Friedman’s argument was controversial 50 years ago, and it’s controversial again today. But it’s still more or less correct. Somewhat unfairly, Friedman’s focus has been taken to mean “short-term value,” generating gains to benefit current shareholders at the expense of other stakeholders. But Friedman is best read as embracing maximizing shareholder value over the long run. Toward that end, short-term gains at the expense of stakeholders — who might decide not to work for, supply to or buy from the firm — make little sense.

There is another rub, and Friedman anticipated it: Even long-term shareholder-value maximization can’t address all problems faced by a firm. Some problems — climate change, for example — are arguably more complex than Friedman envisioned. In these cases, public policy changes are required.

Friedman: “In the present climate of opinion, with its widespread aversion to ‘capitalism,’ ‘profits,’ the ‘soulless corporation’ and so on, this is one way for a corporation to generate good will as a byproduct of expenditures that are entirely justified in its own self-interest.”

• Ken Langone , a founder of Home Depot and the author of “I Love Capitalism!”

Here’s the most misunderstood among Friedman’s many deep insights — a company can make good-will expenditures “that are entirely justified in its own self-interest.” I see that as an extension of the most fundamental truth in capitalism, that in any voluntary exchange both parties benefit.

If we ignore Friedman’s crystalline perception — that profits are the driving focus — then the entire mission, good will included, falls apart. When we turn the idea of profit into a callous slur, as Friedman’s laziest critics often do, we are demeaning the essential propelling force that enables all these interconnected good works to occur.

All our investors, employees, partners and customers also deserve the freedom and security to do good will in their own individual ways, too. But they cannot spread those wings unless the company delivers the profits to lift them.

Are those ordinary people so bereft of charity and common sense that they must grant some newspaper pontificator or a special-interest group with a bullhorn the imaginary right to dictate how their company channels the money they rightfully earned and counted on? As Friedman warned us, to argue yes does worse than belittle every American. It turns the whole of our lives into politics. It means that every jockeying constituency that marauds our government also gets to compete and finagle over how your savings and investment are spent.

Friedman: “That is why, in my book ‘Capitalism and Freedom,’ I have called it a ‘fundamentally subversive doctrine’ in a free society, and have said that in such a society, ‘there is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.’

• Darren Walker , chief executive of the Ford Foundation

In propaganda, an accusation often betrays an admission. The most “subversive doctrine” was — and remains — Friedman’s own. His doctrine absolved the firm of its responsibility to serve as a force for racial integration and inclusion. It produced generations of corporate leaders dedicated to the sacred primacy of shareholder value.

In that way, Friedman’s thinking became theology — the intellectual scaffolding that allowed its disciples to justify decades of greed-is-good excess. Gone were the days when someone like my semiliterate grandfather, with only a third-grade education, could work as a porter and benefit from a profit-sharing plan provided by a company that dignified his work. In their place were new conditions in which our social contract frayed and our economy tilted out of balance — fomenting the unsustainable inequalities that plague America today.

Friedman ignored that in a democratic-capitalist society, democracy must come first. “We, the people” grant businesses their license to operate — which they, in turn, must earn and renew.

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What Happened to Ad-Free TV?: Not long ago, streaming TV came with a promise: Sign up, and commercials will be a thing of the past. Here’s why ads are almost everywhere on streaming services now .

London Moves to Revive Its Reputation: As fears have grown that the city is losing its attractiveness for publicly traded businesses, Britain’s government is making changes to bring them back.

What Do Elite Students Want?: An increasing number of students desire “making a bag” (slang for a sack of money) as quickly as possible. Many of Harvard’s Generation Z say “sellout” is not an insult, appearing to be strikingly corporate-minded .

D.C.’s Empty Offices: Workers in Washington have returned to the office slowly , with a pervasive and pronounced effect on the local economy.

Trump’s Financial Future: Donald Trump has treated Trump Media, which runs his social network Truth Social, as a low-cost sideshow. Now a big portion of his wealth hinges on its success .

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6 Examples of Corporate Social Responsibility That Were Successful

06 Jun 2019

Business is about more than just making a profit. Climate change, economic inequality, and other global challenges that impact communities worldwide have compelled companies to be purpose-driven and contribute to the greater good .

In a recent study by Deloitte , 93 percent of business leaders said they believe companies aren't just employers, but stewards of society. In addition, 95 percent reported they plan to take a stronger stance on large-scale issues in the coming years and devote significant resources to socially responsible initiatives. With more CEOs turning their focus to the long term, it’s important to consider what you can do in your career to make an impact .

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What Is Corporate Social Responsibility?

Corporate social responsibility (CSR) is a business model in which for-profit companies seek ways to create social and environmental benefits while pursuing organizational goals, such as revenue growth and maximizing shareholder value.

Today’s organizations are implementing extensive corporate social responsibility programs, with many companies dedicating C-level executive roles and entire departments to social and environmental initiatives. These executives are commonly referred to as chief officers of corporate social responsibility or chief sustainability officers (CSO).

There are many types of corporate social responsibility , and CSR might look different for each organization, but the end goal is always the same: Do well by doing good . Companies that embrace corporate social responsibility aim to maintain profitability while supporting a larger purpose.

Rather than simply focusing on generating profit, or the bottom line, socially responsible companies are concerned with the triple bottom line , which considers the impact that business decisions have on profit, people, and the planet.

It’s no coincidence that some of today’s most profitable organizations are also socially responsible. Here are six successful examples of corporate social responsibility you can use to drive social change at your organization.

Check out our video on corporate social responsibility below, and subscribe to our YouTube channel for more explainer content!

6 Corporate Social Responsibility Examples

1. lego’s commitment to sustainability.

As one of the most reputable companies in the world, Lego aims to not only help children develop through creative play but also foster a healthy planet.

Lego is the first, and only, toy company to be named a World Wildlife Fund Climate Savers Partner , marking its pledge to reduce its carbon impact. And its commitment to sustainability extends beyond its partnerships.

By 2030, the toymaker plans to use environmentally friendly materials to produce all of its core products and packaging—and it’s already taken key steps to achieve that goal.

Over 2013 and 2014, Lego shrunk its box sizes by 14 percent , saving approximately 7,000 tons of cardboard. Then, in 2018, the company introduced 150 botanical pieces made from sustainably sourced sugarcane —a break from the petroleum-based plastic typically used to produce the company’s signature building blocks. The company has also recently committed to removing all single-use plastic packaging from its materials by 2025, among other initiatives .

Along with these changes, the toymaker has committed to investing $164 million into its Sustainable Materials Center , where researchers are experimenting with bio-based materials that can be implemented into the production process.

Through these initiatives, Lego is well on its way to tackling pressing environmental challenges and furthering its mission to help build a more sustainable future.

Related : What Does "Sustainability" Mean in Business?

2. Salesforce’s 1-1-1 Philanthropic Model

Beyond being a leader in the technology space, cloud-based software giant Salesforce is a trailblazer in corporate philanthropy.

Since its outset, the company has championed its 1-1-1 philanthropic model , which involves giving one percent of product, one percent of equity, and one percent of employees’ time to communities and the nonprofit sector.

To date, Salesforce employees have logged more than 5 million volunteer hours . Not only that, the company has awarded upwards of $406 million in grants and donated to more than 40,000 nonprofit organizations and educational institutions.

In addition, through its work with San Francisco Unified and Oakland Unified School Districts, Salesforce has helped reduce algebra repeat rates and contributed to a high percentage of students receiving A’s or B’s in computer science classes.

As the company’s revenue grows, Salesforce stands as a prime example of the idea that profit-making and social impact initiatives don’t have to be at odds with one another.

3. Ben & Jerry’s Social Mission

At Ben & Jerry’s, positively impacting society is just as important as producing premium ice cream.

In 2012, the company became a certified B Corporation —a business that balances purpose and profit by meeting the highest standards of social and environmental performance, public transparency, and legal accountability.

As part of its overarching commitment to leading with progressive values, the ice cream maker established the Ben & Jerry’s Foundation in 1985, an organization dedicated to supporting grassroots movements that drive social change.

Each year, the foundation awards approximately $2.5 million in grants to organizations in Vermont and across the United States. Grant recipients have included the United Workers Association, a human rights group striving to end poverty, and the Clean Air Coalition, an environmental health and justice organization based in New York.

The foundation’s work earned it a National Committee for Responsive Philanthropy Award in 2014, and it continues to sponsor efforts to find solutions to systemic problems at both local and national levels.

Related : How to Create Social Change: 4 Business Strategies

4. Levi Strauss’s Social Impact

In addition to being one of the most successful fashion brands in history, Levi’s is also one of the first to push for a more ethical and sustainable supply chain.

In 1991, the brand created its Terms of Engagement , which established its global code of conduct regarding its supply chain and set standards for workers’ rights, a safe work environment, and an environmentally friendly production process.

To maintain its commitment in a changing world, Levi’s regularly updates its Terms of Engagement. In 2011, on the 20th anniversary of its code of conduct, Levi’s announced its Worker Well-being initiative to implement further programs focused on the health and well-being of supply chain workers.

Since 2011, the Worker Well-being initiative has been expanded to 12 countries, benefitting more than 100,000 workers. In 2016, the brand scaled up the initiative, vowing to expand the program to more than 300,000 workers and produce more than 80 percent of its product in Worker Well-being factories by 2025.

For its continued efforts to maintain the well-being of its people and the environment, Levi’s was named one of Engage for Good’s 2020 Golden Halo Award winners , the highest honor reserved for socially responsible companies.

5. Starbucks’s Commitment to Ethical Sourcing

Starbucks launched its first corporate social responsibility report in 2002 with the goal of becoming as well-known for its CSR initiatives as for its products. One of the ways the brand has fulfilled this goal is through ethical sourcing.

In 2015, Starbucks verified that 99 percent of its coffee supply chain is ethically sourced , and it seeks to boost that figure to 100 percent through continued efforts and partnerships with local coffee farmers and organizations.

The brand bases its approach on Coffee and Farmer Equity (CAFE) Practices , one of the coffee industry’s first set of ethical sourcing standards created in collaboration with Conservation International . CAFE assesses coffee farms against specific economic, social, and environmental standards, ensuring Starbucks can source its product while maintaining a positive social impact.

For its work, Starbucks was named one of the world’s most ethical companies in 2021 by Ethisphere.

Business and Climate Change | Prepare for the business risks and opportunities created by climate change | Learn More

6. New Belgium Brewing’s Sustainable Practices

New Belgium Brewing has always been a proponent of green initiatives . As early as 1999, it was one of the first breweries to use wind power to source 100 percent of its electricity, significantly reducing its operational carbon footprint.

In Harvard Business School Online’s Business and Climate Change course, Katie Wallace, New Belgium Brewing's chief environmental, social, and governance (ESG) officer, elaborates on the company’s sustainable practices.

"We have biogas here that we capture from our process water treatment plant," Wallace says in the course. "We make electricity with it. When we installed our solar panels on the Colorado packaging hall, it was the largest privately owned solar array at that time in Colorado. And today, we have many other sources of renewable electricity and have invested quite a bit in efficiencies."

New Belgium Brewing also turns outward in its sustainability practices by actively engaging with suppliers, customers, and competitors to promote broader environmental change. These efforts range from encouraging the use of renewable resources in supply chains to participating in policy-making discussions that foster industry-wide sustainability. For example, it co-founded the Glass Recycling Coalition to improve recycling nationwide after recognizing sustainability concerns in the bottling industry.

New Belgium's commitment to corporate social responsibility is an ongoing process, though. The brewery continues to set ambitious targets for reducing waste, conserving water, and supporting renewable energy projects to build a more sustainable future.

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The Value of Being Socially Responsible

As these firms demonstrate , a deep and abiding commitment to corporate social responsibility can pay dividends. By learning from these initiatives and taking a values-driven approach to business, you can help your organization thrive and grow, even as it confronts global challenges.

Corporate social responsibility is critical for businesses today. It enables organizations to contribute to society while also achieving operational goals. By prioritizing social responsibility, you can build trust with your stakeholders and leave a positive impact.

Do you want to understand how to combine purpose and profit and more effectively tackle global challenges? Explore our online business in society courses , including Sustainable Business Strategy and Business and Climate Change , to learn more about how business can be a catalyst for system-level change.

This post was updated on May 30, 2024. It was originally published on June 6, 2019.

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What Is Social Responsibility?

Understanding social responsibility, areas of focus.

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Social responsibility is an ethical focus for individuals and companies whereby they seek to take action and be accountable for practices that benefit society. Social responsibility has become increasingly important to investors and consumers who seek investments that not only are profitable but also contribute to the welfare of society and the environment.

While critics have traditionally argued that the basic nature of business does not consider society as a stakeholder , younger generations are embracing social responsibility and driving change.

Key Takeaways

Social responsibility means that besides maximizing shareholder value, businesses should operate in a way that benefits society.
Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.
Companies can act responsibly in many ways, such as by promoting volunteering, making changes that benefit the environment, engaging in ethical labor practices, and engaging in charitable giving.
Consumers are more actively looking to buy goods and services from socially responsible companies, hence impacting their profitability.
Critics assert that practicing social responsibility is the opposite of why businesses exist.

Michela Buttignol / Investopedia

Social responsibility means that individuals and companies must act in the best interests of their environment and society as a whole. As it applies to business, social responsibility is known as corporate social responsibility (CSR) and is becoming a more prominent area of focus within businesses due to shifting social norms.

The crux of this theory is to enact policies that promote an ethical balance between the dual mandates of striving for profitability and benefiting society as a whole. These policies can be either commission (philanthropy: donations of money, time, or resources) or omission (e.g., “go green” initiatives such as reducing greenhouse gasses or abiding by U.S. Environmental Protection Agency regulations to limit pollution).

Many companies, such as those with “green” policies, have made social responsibility an integral part of their business models , and they have done so without compromising profitability.

Additionally, more consciously capitalistic investors and consumers are factoring in a company’s commitment to socially responsible practices before making an investment or purchase. As such, embracing social responsibility can benefit the prime directive: maximization of shareholder value.

There is a moral imperative as well. Actions—or the lack thereof—will affect future generations. Put simply, social responsibility is just good business practice, and a failure to do so can have a deleterious effect on the balance sheet.

Social responsibility can also boost company morale, especially when a company can engage employees with its social causes.

In general, social responsibility is more effective when a company takes it on voluntarily instead of waiting for the government to require them to do so through regulation.

The International Organization for Standardization (ISO) emphasizes that a business’s ability to maintain a balance between pursuing economic performance and adhering to societal and environmental issues is a critical factor in operating efficiently and effectively.

The key ways that a company embraces social responsibility include philanthropy, promoting volunteering, ethical labor practices, and environmental changes.

For example, companies managing their environmental impact might look to reduce their carbon footprint and limit waste. There’s also the social responsibility of ethical practices for employees, which can mean offering a fair wage, which arises when there are limited employee protection laws.

Examples of Socially Responsible Corporations

Social responsibility takes on different meanings within industries and companies. For example:

Starbucks Corp. ( SBUX ) committed to social responsibility from the start, including sustainability and community welfare. It purchases Fair Trade Certified ingredients to manufacture products and actively supports sustainable farming in the regions where ingredients are sourced.
Ben & Jerry’s Homemade Holdings Inc. has integrated social responsibility into the core of its operations. Like Starbucks, the company purchases Fair Trade Certified ingredients.
Salesforce.com Inc. ( CRM ) developed what it calls the 1-1-1 model. The company dedicates 1% of its equity, 1% of its product, and 1% of its employees’ time back to the community.
Big-box retailer Target Corp. ( TGT ), also well known for its social responsibility programs, has donated money to communities in which the stores operate, including education grants.

Criticism of Corporate Social Responsibility

Not everyone believes that businesses should have a social conscience. Economist Milton Friedman stated that “‘social responsibilities of business’ are notable for their analytical looseness and lack of rigor.” Friedman believed that only individuals can have a sense of social responsibility. Businesses, by their very nature, cannot. Some experts believe that social responsibility defies the very point of being in business: profit above all else.

However, social responsibility has become more mainstream and is now practiced among a wide range of companies. Younger generations, such as millennials and Gen Z , are embracing social responsibility and driving change in the workplace and as consumers.

What Are Examples of Social Responsibility?

Social responsibility includes companies engaging in environmental preservation efforts, ethical labor practices, philanthropy, and promoting volunteering. For example, a company may change its manufacturing process to reduce carbon emissions.

What Are the Main Benefits of Social Responsibility?

Benefiting society and lessening the negative impacts on the environment are among the main benefits of social responsibility. Consumers are increasingly looking to buy goods and services from socially responsible companies, which can have a positive impact on their bottom line.

How Does Social Responsibility Benefit Companies?

In addition to potentially increasing the bottom line, companies that implement social responsibility programs can also boost their brand image. Social responsibility programs can also have a positive impact on morale among employees.

Social responsibility benefits society and the environment while lessening negative impacts on them. Companies engaging in social responsibility can do so in a number of ways, including making changes that benefit the environment, engaging in ethical labor practices, and promoting volunteering, and philanthropy. Consumers are more actively looking to do business with socially responsible companies , which can also benefit bottom lines.

Lu, Hao and et al. " How Do Investors Value Corporate Social Responsibility? Market Valuation and The Firm Specific Contexts ." Journal of Business Research , vol. 125, March 2021, pp. 14-25.

International Organization for Standardization. " Standards ."

International Organization for Standardization. " ISO and Small & Medium Enterprises ."

Starbucks. “ Starbucks Ethical Sourcing of Sustainable Products .”

Starbucks. “ Becoming Resource Positive .”

Ben and Jerry’s. “ Fairtrade .”

Ben and Jerry’s. “ Our Values and Mission .”

Salesforce. “ How Far Can the 1-1-1 Model Go? This Tech Darling Has a Unique Approach .”

Target. " Offering Debt-Free Degrees to More Than 340,000 Target Team Members? Now That’s a Smart Move ."

Target. “ Sustainability & Governance .”

The New York Times. “ A Friedman Doctrine—The Social Responsibility of Business Is to Increase Its Profits .”

Massachusetts Institute of Technology, Sloan School of Management. “ Social Responsibility Matters to Business — A Different View from Milton Friedman from 50 Years Ago .”

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Business Ethics and Social Responsibility Essay

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Searching for business ethics and social responsibility essay? This reflection paper discusses the importance of corporate ethics and social responsibility.

Introduction

The importance of business ethics.

Corporate Ethics & Social Responsibility
Relevant Practices

Ethics and social responsibility play an important role in business management. Organizations, both public and private, feel the need to incorporate corporate responsibility in their organizational culture. Ethics deals with knowing what is wrong and what is right. Business ethics encompasses analyzing ethical decisions, beliefs, and actions inline with business activities. Organizations are expected to show ethical values and operate socially responsible.

The major issue is that business ethics integrates different sets of ethics. This is the reason as to why organizations should employ good individuals as workers. Social responsibility deals with business conduct in respect to the broader social values. It questions the duties of business to the entire society (Sims, 2003). In this light, this paper discusses the importance of ethics and social responsibility and various practices and theories employed in different organizations.

Businesses operate in such a way that their owners can realize some benefits. Business owners are also known as shareholders. Though, other stakeholders are part of critical components of decision making because businesses have to act in a liable and ethical manner and reflect on the potential effects of any choices made. Stakeholders such as dealers, customers, staff, owners, and communities are the integral part of business operations.

Customers, who are also citizens, require quality products which are affordable. Likewise, other stakeholders expect fair business engagements from organizations. Citizens need to know that right things are being done for the right reasons. This is because organizations target citizens in their plans for making profits and it is imperative that citizens observe the conduct of businesses in order to make the right choices (McNamara, 2010).

Knowing ethical and social norms help citizens to keep organizations in tandem with the society’s expectations. Businesses should work in a way that is lawful, beneficial, ethical, and inline with social commands (Johnson, n.d). Ethics in business enable organizations to maximize profits, utilize business resources, and create support in the market. Ethical values should command what is suitable to pay employees as well as to charge consumers.

An organization is therefore required to have a culture that enhances strong values. This will also attract good employees in the company. For example, companies strive to be included in the list of the top 100 firms in the United States issued frequently in Fortune magazine. The most common criteria used are analyzing profit sharing, bonuses, and stock markets. The list also incorporates policies and rewards that refer to work and enhance social responsibility (Griffin, 2008).

In the health sector, patients are supposed to trust physicians because hospitals are normally governed with good ethical conducts. This trust ensures that good medical care is offered to patients. Studies have found that trust is mostly related to patient satisfaction and therefore vital in selecting and applying treatment that is essential to patients (Thom & Campbell, 1997). Moreover, such trusts are essentials because in many cases patients require long-term or ongoing management in chronic cases.

Reflection about Business Ethics and Social Responsibility

Social responsibility is an element of ethical conduct. It is improving the community in general. Areas of social responsibility include business giving, ecological and environmental quality, consumerism, government relation, and labor relations. Social responsibility improves the public image of an organization and enhances the local economy.

Trust and excellent reputation are among the most important assets in any business that can only be realized through social responsibility. Social responsibility also attracts and retains employees who are committed to their task, hence improved performance. By doing so, companies can reduce the cost of recruitment.

Moreover, social responsibility increases the customer base and attracts investors. Being a social responsible organization enable a business to gain competitive advantage. Developing products that are friendly to the environment adds value and increases sales in business. Investors prefer social responsible businesses because it is an indication of proper management and a good reputation (The Economist, 2009).

However, if a company produces products that are detrimental to the environment, there is high chance that the company’s image can be destroyed.

The effect of pollution on air, water, and land calls for the need to observe ecological and environmental quality. Companies should clean up the existing pollution, start processes to reduce pollution, control noise, recycle materials, and perform aesthetic improvements. Consequently, social responsibility determines how children behave and thus there is need to educate children about social responsibility in order to put a sustainable investment in the future. Children are the potential business stakeholders in future.

Practicing social responsibility such as training children and improving health and education broadens their view and persuade them to help others. Teenagers can be asked to take part in volunteer programs in nursing homes, heath centers, and schools. This helps to heighten the idea that we are accountable for the state and quality of our societies (Griffins, 2008).

Practices of Corporate Social Responsibility

Ethics and social accountability in the context of business have changed over the last decades. This is due to various ethics scandals that have captured the interest of people. It is vital to talk about some of these scandals. The Salmon Brothers, a sponsor of security, defied Treasury policy in 1990s by purchasing more than thirty five percent of a Treasury copy of securities at auction. This business scandal forced three top executives to resign, including other effects.

The crime contributed in the effort of setting the U.S. Sentencing Commission in 1991 which was responsible for ensuring that companies are accountable for any unlawful behavior (Brenner, 1992). In the mid 1990, many ethical scandals were inline with sexual harassment and racial prejudice.

Coca-cola, Mitsubishi, and Texaco are some of the companies that received such accusations. At the start of the new century, scandals were persistent in the news. In 2001, Firestone and Ford expressed regret to their customers for a continued tire failures. Business ethics crimes are still common in the present days and therefore there is a possibility of changing ethical and social responsibility practices and theories in the future.

From the inference of public interest in social responsibility during the last forty years, two implications can be made. Attention in social responsibility has increased throughout the past three decades. Consequently, attention in ethics and social responsibility appears to have been driven by business scandals. In essence, the society has constantly changed their view on the issue with different tastes; some take it seriously and others take it lightly.

Because of the increasing ethical missteps, companies have been undergoing an intensive analysis from the public with regards to their performance. Due to many allegations, such as unfavorable care for the customer and environmental degradation, social responsibility has changed dramatically and thus companies are required to offer back to the community. It is believed that individual corporations are like citizens so they should contribute to the society (Henn, 2009).

The current organizations in many aspects are part of the society made up of many persons with different views and expectations. This implies that there is new demand for all stakeholders to reorganize their relationships.

For example, according to the President of McDonald’s, Don Thompson, the enduring success of the company relies on customers’ trust and loyalty – in the value and safety of food, in the business processes, and in the firm’s commitment to solving issues presented by the customers (personal communication, June 13, 2010). Those businesses expected to last for long will be concerned with making certain that the evolving requirements are met.

These companies will need to observe legal, ethical, and social requirements while being able to operate in tandem with changing economic conditions. In the past, social responsibility was seen as a practice that can decrease profits and thus contradicting the reason for the firm’s existence (Griffin, 2008).

Likewise, most organizations applied the utilitarian principle in solving ethical problems. The utilitarian principle argues that an action should be taken if it brings greater value to the whole organization. Modern organizations take into consideration the rights of every individual. This is known as the moral rights principle of solving ethical problems. It is imperative that modern firms observe and preserve the rights of employees, customers, and the whole society.

In future, ethics and social responsibility will have a new meaning in the context of business operations. From the current happenings, it is possible that businesses will be required to be adoptive and interactive. Future organizations will need to observe the changing laws that govern business operations.

As pressure increases from the outside environment, companies will be able to anticipate environmental changes and blend their own goals with those of the society. This is an interactive approach that reduces the difference between society’s viewpoint and business routine.

Social responsibility is part of business ethics that require managers to be open in their business engagements. Observing ethics and social responsibility improves the company’s image and result to profit maximization.

The whole world would benefit from social responsibility because companies are required to take part in the following aspects: improve environmental quality, provide truthful advertisement, start industries in marginal areas, provide equal employment rights, develop quality products, and enable freedom of participation in company’s affairs.

As explained in this paper, ethics and social responsibility requires constant changes in organizational conduct and performance. Since internal and external requirements change, it is imperative that firms likely to survive in future observe the changing needs from the society and regulations imposed by the government. In essence, since businesses create some problems they should help solve them.

Brenner, S. N. (1992). “Ethics Programs and Their Dimensions”. Journal of Business Ethics , 11, 391-399.

Griffin, A. (2008). New Strategies For Reputation Management: Gaining Control of Issues, Crisis & Corporate Social Responsibility. Philadelphia, USA: Kogan Page Limited.

Henn, K. (2009). Business Ethics: A Case Study Approach. New Jersey: John Wiley & Sons, Inc.

Johnson, K. W. Integrating Applied Ethics and Social Responsibility . Ethical Complexity or Ethical Chaos? . Web.

McNamara, C. (2010). Complete Guide to Ethics Management: An Ethics Toolkit for Managers . Free Management Library. Web.

Oneal, M. (Interviewer) & Thompson, D. (Interviewee). (2010). McDonald’s on a Roll, But Still Not at Top of its Game . Chicago Tribune. Web.

Sims, R. (2003). Ethics and Corporate Social Responsibility: Why Giants Fall. United States: Green wood Publishing Group, Inc.

The Economist. (2005). The Importance of Corporate Responsibility . Economist Intelligence Unit. Web.

Thom, D. H. & Campbell, B. (1997). Patient-Physician Trust: An Exploratory Study. BNET. Web.

Martha Stewart and the ImClone System’s Scandal
The Bribery Scandal at Siemens AG
Volkswagen Scandal: Breach of Environmental Regulations
Corporate Social Responsibility Concept in Modern Economy
Corporate Ethics in the "Business Through the Eyes of Faith"
Financial Reporting Practices and Ethical Standards in Health Care Finance
Business Ethics: Morality Issues Toward Customers
Some social responsibility practices
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