Drucker concluded that considerations for workers in and out of the workplace were the responsibilit

Firm would be held responsible for pollution and

This preview shows page 3 - 4 out of 4 pages.

firm would be held responsible for pollution, and force the firm to take those external costs into account. 5. Cohen's ideas of social responsibility aligns the most with the current business climate promoting a green environment. A green business in the current business climate means a business that has minimal negative impact on global or local environment community or society. Green businesses in the current business climate means that the business follows the principles of sustainability, is greener than traditional companies, has made a commitment to environmental principles, sells environmentally friendly products, and ensures that all its processes, activities, and products, comply with current environmental standards while maintaining a profit (6). Currently businesses include their social responsibilities in their value statements, mission statements, and corporate code of ethics. The key points of differences are that Drucker wanted the mission (meaning making profits) to be more important than corporate social responsibility. This hierarchical order does not exist today. Businesses look askance at Friedman's statement that a corporation's responsibility is to make as much money for the stakeholders as possible. Today's green business supports the contention. It complies with higher standards of corporate responsibility than what is required by compliance with law. There are global corporate social responsibility standards and green companies comply with those standards. Companies do not agree with Milton Friedman's views that the sole corporate responsibility of businesses is to make profits. They also do not agree with the viewpoint that companies should merely comply with current laws. Instead the companies take pride in adhering to higher standards. For example, Whole Foods Market sets higher standards for itself and complies with those standards. (1,315 words, each page approx. 250 words)
Image of page 3

Subscribe to view the full document.

References: 1. Philip R. P. Coelho, James E. McClure, John A. Spry, (2003) "The Social Responsibility of Corporate Management: A Classical Critique", American Journal of Business, Vol. 18 Iss: 1, pp.15 - 24 2. Tom McManus, (2008) "The business strategy/corporate social responsibility "mash-up"", Journal of Management Development, Vol. 27 Iss: 10, pp.1066 - 1085 3. Som Sekhar Bhattacharyya, (2010) "Exploring the concept of strategic corporate social responsibility for an integrated perspective", European Business Review, Vol. 22 Iss: 1, pp.82 - 101 4. Bo Enquist, Mikael Johnson, Per Skålén, (2006) "Adoption of corporate social responsibility - incorporating a stakeholder perspective", Qualitative Research in Accounting & Management, Vol. 3 Iss: 3, pp.188 - 207 5. Jeremy Galbreath, (2009) "Building corporate social responsibility into strategy", European Business Review, Vol. 21 Iss: 2, pp.109 - 127 6. Jeremy Galbreath, (2006) "Corporate social responsibility strategy: strategic options, global considerations", Corporate Governance, Vol. 6 Iss: 2, pp.175 - 187
Image of page 4

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern