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Social Responsibility Question Answered

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Does a company have to act selflessly to be considered socially responsible? For example, when building a new plant, a corporation voluntarily invested in additional equipment that enabled it to reduce its pollution emissions beyond any current law. Knowing that it would be very expensive for its competitors to do the same, the firm lobbies the government to make pollution regulation more restrictive on the entire industry, Is this company socially responsible? Were its managers acting ethically?

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Social responsibility is an obligation to make decisions and take actions to benefit society. By that standard, a firm does not have to act selflessly to be socially responsible. By designing and building a plant that is more ...

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