Corporate Social Responsibility of Leading Property Companies in Hong Kong
In general, the term leading property companies are often referred to the three largest property developers in Hong Kong, the San Hung Kai Properties (San Hung Kai) and Henderson …show more content…
In the following paragraph, these companies' action are evaluated under the principle of shareholders and stakeholders theory of CSR.
Comments on the Above Actions Regarding CSR
The first perspective with which to look at is the shareholder theory of CSR, which is highlighted with Milton Friedmen's famous view of CSR. In his publication, he stated that "there is one and only one social responsibility of business -– to use its resources and engage in activities designed to increase its profits...” provided that the business is operated in fair competition (Friedman, 1970). It is noted that the “profit” stated by Friedman refers to the long-term profit for shareholders brought about by the well-being of various aspects such as environment and customers. Another perspective is the stakeholders theory, or business school stakeholders theory, which considers how a firm can be well-managed to induce the outcome of maximizing the profit. This idea