Arguments For
Business is unavoidably
involved in social issues. Business has the resources to tackle today’s complex
societal problems. A better society means a better environment for doing
business. Corporate social action will prevent government intervention.
Arguments Against
Profit maximization
ensures the efficient use of society’s resources. As an economic institution,
business lacks the ability to pursue social goals. Business already has enough
power. Because business managers are not elected, they are not directly
accountable to society.
Toward Greater Social
Responsibility
Iron Law of Responsibility
Those who do not use power
in a socially responsible way will eventually lose it. If business does not
meet the challenge of social responsibility, then government reform legislation
will force it to meet its obligations.
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