The social responsibility of corporations

Essay from the year 2006 in the subject Economics / Business: Business Ethics, Corporate Ethics, printed single-sided, grade: 1,3, The University of Glamorgan (University of Glamorgan, Business School), course: Business Ethics and Sustainable Development, 43 entries in the bibliography, language: English, abstract: This essay builds upon Milton Friedman's (1970) famous statement that "the social responsibility is to make a profit".It analyses four dimensions of corporate social responsibility - economic, legal, ethical and philanthropic - and discusses arguments for and against each of them.The study concludes that there is need as well as justification for CSR, not only in a strategic manner, but also in an altruistic/philanthropic way.