The Iron Law Of Responsibility Essay

838 Words Sep 30th, 2015 4 Pages
Being socially responsible is one of the most important concerns for businesses, and individuals. It’s a duty that all firms should follow. Recently, most corporations are working on being responsible for their actions regarding the company’s employees, customers, and society in general. Corporate social responsibility is a commitment by the company to act ethically in a way that helps the environment, society and its citizens. It also helps with forming the company’s image to the public.
Corporate Social Responsibilities
All actions that contribute to social welfare, and give more than what’s necessary for the company to increase its profit, are considered corporate social responsibilities. (Luo, X., & Bhattacharya, 2006). An excellent example is Timberland’s exercise of its corporate power in society. The term corporate power refers to the ability of the companies to impact and influence the economy, the government, and the society build on organizational resources.
The Iron Law Of Responsibility
Timberland’s company is being socially responsible in a way that enhances the society. They are acting morally toward a sustainable future for coming generations, and at the same time achieving the society’s needs in the present. By exercising its powers, Timberland is using “The Iron Law of Responsibilities”, which simply means that in the long run corporations that fails to behave respectfully and socially responsible toward its society will lose the powers they were…

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