ENG 310 Essay 2.1

ENG 310 Essay 2.1 - 1 Corporations Pseudo-sincerity A new...

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Corporations Pseudo-sincerity A new trend of social responsibility is raging through the corporate world. Corporations from time to time are socially responsible. Their motivations may be to create goodwill, better their public image, or to go with current trends; nevertheless, each of these betters the corporation and is the only reason they did anything socially responsible in the first place. By law, corporations are responsible only for their shareholders and their bottom line is to increase shareholders’ equity no matter the consequences it may have on society. Corporations can never be sincere even though some acts appear to be socially responsible; their mandate will never allow them to show or act out of pure sincerity. Goodwill is an intangible asset of great value to corporations’, it is a special rapport with customers and vital to their success; socially responsible acts are excellent ways of creating this. According to Bakan (2004), the pharmaceutical giant Pfizer, is one of the most supposedly corporate responsible firms around today. Pfizer has a program where they donate drugs to developing countries, which on the surface appears to be not only socially responsible but also extremely benevolent. However, after a more methodical analysis of the situation it is obvious that they are doing this only for their own benefit and at the expense of the public, no less. First, the relative marginal cost of making more drugs is relatively low, furthermore; by giving the drugs away Pfizer is costing taxpayers four times as much as they would if they sold them at a discount through an aid program to the country. However, the goodwill created from such acts helps the corporation considerably. In the United States, the majority of drugs require a doctor’s prescription, in order to purchase them. Being generous and providing free drugs 1
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gives Pfizer a competitive advantage over their competitors and gives doctors an incentive to recommend a Pfizer product over one of their competitor’s similar products. The drug industry is not the only area that is limited to false benevolence. Indeed this is a
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ENG 310 Essay 2.1 - 1 Corporations Pseudo-sincerity A new...

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