Common Application Essay

Social Responsibility - Investopedia

Date of publication: 2017-09-02 08:03

Quality ideals such as those promoted by W. Edwards Deming in his 69 Points and Genichi Taguchi with the quality loss function apply to social responsibility. Sustainability is an ideal state, as is quality an ideal state. The aims and ideals of social responsibility, as a path to sustainability, make SR a natural and progressive extension of the quality practitioner&rsquo s professional competency.

Corporate Social Responsibility: Evolution of a

Consideration of corporate social responsibility is as old as organizations themselves. The central question always has been this: Does each organization, as it strives to achieve its mission and vision, add value to the society which franchises its existence? Long before consideration focused on business, especially large corporations, questions about CSR addressed the rationale and acceptability of government and church.

Project Report on Corporate Social Responsibility (CSR)

The industrial machinery may produce noise and air pollution against health and safety of the community. Business firms should conform to pollution standards and provide clean and healthy environment to the community at large.

Corporate Social Responsibility (CSR) (Upper-Intermediate

Note first that I refer to social responsibility, not financial, or accounting, or legal. It is social precisely to allow for the constituencies to which Mackey refers. Maximizing profits is an end from the private point of view it is a means from the social point of view. A system based on private property and free markets is a sophisticated means of enabling people to cooperate in their economic activities without compulsion it enables separated knowledge to assure that each resource is used for its most valued use, and is combined with other resources in the most efficient way.

By pursuing his own interest [an individual] frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good. -Adam Smith, The Wealth of Nations

Firms should submit their yearly returns of income and pay taxes judiciously. Taxes are a source of revenue for the Government used for promoting business interests.

Whole Foods Market's contribution to society-and as a customer I can testify that it is an important one-is to enhance the pleasure of shopping for food. Whole Foods has no special competence in deciding how charity should be distributed. Any funds devoted to the latter would surely have contributed more to society if they had been devoted to improving still further the former.

SIM sees CSR/CR as the socially approved expenditure of material and human resources to advance the strategic business plans in ways that meet stakeholder expectations. When firms’ operations offend stakeholder expectations, legitimacy gaps motivate stakeholders to correct those operations. Such logic applies not only to the private sector, but also to non-profit organizations and government agencies.

8775 CSR is about capacity building for sustainable livelihoods. It respects cultural differences and finds the business opportunities in building the skills of employees, the community and the Government. 8776

Of all the food retailers in the Fortune 555 (including Wal-Mart), we have the highest profits as a percentage of sales, as well as the highest return on invested capital, sales per square foot, same-store sales, and growth rate. We are currently doubling in size every three and a half years. The bottom line is that Whole Foods stakeholder business philosophy works and has produced tremendous value for all of our stakeholders, including our investors.

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