Let’s kick off things to a start shall we?
Today I will be commenting on the following article from ECONOMIST magazine.
Basically the post is about CSR(corporate social responsibility) which is sparking controversy throughout the world these last few years.
For the less economic savy here is the definition:
Corporate social responsibility (R), also known as corporate conscience, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure its support to law, ethical standards, and international norms.
The debate has been about whether the surge of CSR is due to genuine concern or a simple worldwide PR stunt.
That is not what I will be talking about today however.Let us just simple try to answer the questions.Are companies charities? The obvious answer is no but let’s not talk the term literally.
Since the beginning of time private companies have always been motivated by profit.Their main goal is to provide a good investment for their shareholders/owners. No one wants an organization that damages the environment in their city/neighborhood but as long as a company is adhering to the law it’s in the green.Should companies go one step further even tho that will most likely minimize their profits?
My answer: I strictly believe in the concept of free markets.I really believe that as long as the company is operating legally and within ethical boundaries it should not care to go one step further just to better it’s brand image.
Over to you: I would love to know what you guys think about this.
PS: Sorry about the short article my keyboard is dying I’m replacing it soon did not want to make a long post.