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)
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
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