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Most people agree that managers should make ethical decisions and that firms have a responsibility to obey the law. Beyond this, however, do firms have a social responsibility? If firms really have a social responsibility, specifically identify the social obligations that they have and how they can coexist with the responsibility to provide maximum returns to shareholders. If not, why not?

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Most people agree that managers should make ethical decisions and that firms have a responsibility to obey the law. Beyond this, however, do firms have a social responsibility? If firms really have a social responsibility, specifically identify the social obligations that they have and how they can coexist with the responsibility to provide maximum returns to shareholders. If not, why not?

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Yes, firms do have a social responsibility to contribute towards the society, community or environment in which they operate via their actions, resources and capabilities. In today's business world, social responsibility is an integral element of each business and it has become important for companies to contribute and work for the benefit of the society or community, be it large organization or small firm. ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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