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  • Essay / Review: Ethical Perspectives on Social Responsibility

    Assessment: Ethical Perspectives on Social Responsibility This article evaluates Cohen's article on social responsibility and examines how his views and ideas align with other other management experts, including Drucker and Friedman. Some key elements included in the assessment are: • A definition of the concept of social responsibility. • What Cohen identifies as a company's social responsibility to workers, stakeholders and society as a whole. • How the point Cohen's view on corporate social responsibility aligns with Drucker's perspective. • How Cohen's view on corporate social responsibility compares to Friedman's view. • Finally, an identification of expert opinions that best aligns with the current business climate favoring a “green environment and why. Social ResponsibilityThe basic definition of social responsibility is that all businesses must embrace more than just maximization profits, and must have as part of their business model the objective of having a positive impact on the society in which they operate. (Investopedia, 2014) Some companies believe that social responsibility can only apply to individuals and not to a corporation or business entity, and that corporate social responsibility is only about maximizing company profits to the shareholders of the organization. By maximizing a company's profits, society as defined by those companies benefits because the company succeeds and adds value to the entire society in which the company operates. Cohen's Beliefs Cohen was a student of Peter Drucker and his beliefs on social matters are therefore understandable. responsibilities align with those of Druck...... middle of document ......iisd.org/business/issues/sr.aspxKnowledge@Wharton. (2012). Why businesses can no longer afford to ignore their social responsibilities. Time, May 28 Mackey, J. (2011). What is conscious capitalism? California Management Review, 53(3), 83-90. Krishan, G.V. and Wei, Y. (2012). Do small businesses benefit from an audit certificate on the effectiveness of internal control? Auditing, 31(4), 115-137. doi:10.2308/ajpt-50238Rethinking Corporate Social Responsibility. (2005) Retrieved April 11, 2014 from http://reason.com/archives/2005/10/01/rethinking-the-social-responsi/print Saco, R. (2008). Social irresponsibility. Journal for Quality & Participation, 31(3),39-40.Definition of social responsibility. (2014). Definition of “social responsibility”. Retrieved April 11, 2014 from http://www.investopedia.com/terms/s/socialresponsibility.asp