Business and Society Essay Example | Topics and Well Written Essays - 1250 words

Business and Society - Essay Example resent day intend to contribute to a situation of equitable position in the society, a balanced environment and the development of a sustainable economy. Although most of the large corporations are chiefly engaged in these types of social activities, the smaller houses are also not beyond the scope of CSR. The smaller manufacturing and production companies are equally responsible for the exhaustion of the environmental resources and therefore it is also a part of their duty to give back some thing to nature and the society. If the present generation makes complete use of the existing resources there would be nothing left for the future generations to sustain in the long run. Therefore the companies that are operating in any economy should think beyond the interest of the shareholders and maximisation of profit but should formulate their policy that would add to the social welfare by and large. The ideal mission and vision of a particular company has remained a topic that has been discussed and deliberated on at length. The stakeholder theory is often used to talk about the corporate social responsibility activities of the organisations. The corporations have legal obligations towards the shareholders of the businesses. Since the stakeholders are people belonging to the society contribution by the corporations in the CSR activities would contribute to the welfare of those shareholders implicitly. The organisations also have a moral and social responsibility which encourages them to take up social projects. The environmental impact that entails in the activities of the companies makes it a mandatory responsibility of them to take part in the contribution to social welfare. Thus as the companies move towards a goal of sustainability in the society the businesses are benefitted. It adds to the welfare of the businesses. On the other hand, the company board of directors are considered to be only employees of the shareholders (Manne, 1972). The shareholders invest in