The social responsibility of corporations

Essay from the year 2006 in the subject Business economics - Business Ethics Corporate Ethics grade: 13 University of Glamorgan course: Business Ethics and Sustainable Development 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.