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Social Responsibility, Economic Advancement, Globalization

1. Discuss the notion of social responsibility. What does it mean for corporations?
2. Economic advancement and globalization are prompting societal change. Discuss this statement.

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Social responsibility is essentially means that corporations must function in a manner that is beneficial to both the organization as well as the surrounding community or society. In essence, social responsibility entails the responsibility of corporations to seek to benefit society as much as possible from their operations, instead of functioning in a manner that only benefits the Corporation at the expense of the environment and society at large. Social responsibility also entails corporations seeking to function in the most clean or green manner possible, so as to reduce and/or eliminate detrimental effects to the environment from their operations. This is the responsibility of corporations ...