Today we live in a world in which communities are struggling problems such as climate change, persistent poverty, and Zika virus, which are global in magnitude. Corporate Social Responsibility is a business practice, which involves initiatives that benefit society. Corporate Social Responsibility is defined as “…the economic, legal, ethical, and discretionary expectancies that society has of organizations at a given point in time” (Valentine). However, not only does Corporate Social Responsibility make corporations accountable for their impact on social and environmental prosperity but it gives them the opportunity to govern themselves with transparency and integrity which will gain the trust and build lasting relationships with their consumers.
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However, “CSR practices must strive to reflect the social values of the society where they are implemented” (Mostovicz). Supplying safe, high quality products and services, are different ways that a business can serve society and boost well-being. “Well-being can be enhanced with out sacrificing ecological or community concerns”(Forte). In addition, there are other platforms that a business can use to implement Corporate Social Responsibility. “Impoverished Africans get treatment for HIV/AIDS because major pharmaceutical companies supply drugs at low costs, for instance. Disadvantaged students become employable because Microsoft supports training programs in information technology. Under-equipped law-enforcement agencies track down murders because Target lets them use sophisticated forensics laboratories it created to deal with crime in its 1,400 stores” (Price). This shows that companies can use their resources in a number of ways to benefit their …show more content…
The CEO, John Mackey, stated, “We want to improve health and well-being of everyone on the planet through higher-quality foods and better nutrition” (Price). However, he included in his statement that in order to fulfill that mission they must be profitable. Profit is the means to an end, where the end is improving health and well-being. Mackey continued: “Just as people cannot live without eating, so a business cannot live without profits. But most people don’t live to eat, and neither must a business live just to profit.” This shows that some socially responsible efforts come at a price, which will be inevitably passed on to consumers. However, Price states in CQ Researcher article, on the topic of Corporate Social Responsibility, that some conservatives oppose CSR activities. The reason for this is they believe it is a ploy to enhance shareholder value (Price). In addition, there is a shareholder value model that follow’s Milton Friedman’s belief that “a businesses’ only social responsibilities are to increase profits and obey the law. However, this model, created in 1970, lacks understanding of consumers today. Bill Withers taught in his Integrated Marketing Communication class that there is the Product Era (1900-1960), the Consumer Era (1960-2000) and the Relationship Era (2000-Now). In the Relationship Era fostering sustainable relationships with consumers is key.
However, “CSR practices must strive to reflect the social values of the society where they are implemented” (Mostovicz). Supplying safe, high quality products and services, are different ways that a business can serve society and boost well-being. “Well-being can be enhanced with out sacrificing ecological or community concerns”(Forte). In addition, there are other platforms that a business can use to implement Corporate Social Responsibility. “Impoverished Africans get treatment for HIV/AIDS because major pharmaceutical companies supply drugs at low costs, for instance. Disadvantaged students become employable because Microsoft supports training programs in information technology. Under-equipped law-enforcement agencies track down murders because Target lets them use sophisticated forensics laboratories it created to deal with crime in its 1,400 stores” (Price). This shows that companies can use their resources in a number of ways to benefit their …show more content…
The CEO, John Mackey, stated, “We want to improve health and well-being of everyone on the planet through higher-quality foods and better nutrition” (Price). However, he included in his statement that in order to fulfill that mission they must be profitable. Profit is the means to an end, where the end is improving health and well-being. Mackey continued: “Just as people cannot live without eating, so a business cannot live without profits. But most people don’t live to eat, and neither must a business live just to profit.” This shows that some socially responsible efforts come at a price, which will be inevitably passed on to consumers. However, Price states in CQ Researcher article, on the topic of Corporate Social Responsibility, that some conservatives oppose CSR activities. The reason for this is they believe it is a ploy to enhance shareholder value (Price). In addition, there is a shareholder value model that follow’s Milton Friedman’s belief that “a businesses’ only social responsibilities are to increase profits and obey the law. However, this model, created in 1970, lacks understanding of consumers today. Bill Withers taught in his Integrated Marketing Communication class that there is the Product Era (1900-1960), the Consumer Era (1960-2000) and the Relationship Era (2000-Now). In the Relationship Era fostering sustainable relationships with consumers is key.