Concepts of social responsibility.docx - Concepts of social responsibility Pyramids stakeholders and social businesses The three short readings for this

Concepts of social responsibility.docx - Concepts of social...

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Concepts of social responsibility: Pyramids, stakeholders, and social businesses The three short readings for this class all argue that businesses have “social” responsibilities. So, they disagree with Friedman’s free market view that it is ethically right for businesses to focus simply on maximizing their profits, as well as with Heath’s market failures view that businesses and regulators are also responsible for ensuring perfectly functioning markets. In contrast, each of the three readings claims that businesses have ethical responsibilities to “society.” However, the three readings propose very different ideas about what a business’s “social” responsibilities are and why a business has them: Archie Carroll presents his four-part “Pyramid of Corporate Social Responsibility” as based in society’s expectations of business; Edward Freeman treats a business’s responsibilities to promote the welfare and gain the consent of its “stakeholders” as a matter of respect; and Muhammad Yunus argues for the creation of “social businesses” with social missions as the most effective way to solve social problems. As you read the extracts, try to get an understanding not only of the different ideas of “social responsibility” that the authors propose, but also of the ethical ideas and conceptions of “society” which they use to support them. Think too about how these ideas might support or change your views
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