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Ethical Stewardship Essay

1747 words - 7 pages

Foundation of Ethics: Virtue and Values
Evaluate Ethical Perspectives on Social Responsibility
Submitted to Northcentral University

DEFINING THE CONCEPT OF SOCIAL RESPONSIBILITY

Depending on whom you ask, the concept of social responsibility may mean different things.
However, within an organizational culture, social responsibility refers to ethical practices that benefit the greater society and simultaneously benefits the health of the organization.
The concept of social responsibility is an ideology of ethical behavior that upholds that people and stakeholders should act in the interest of the greater collective good. Typically, social responsibility addresses ...view middle of the document...

It is the organizational devotion to proactively embark in non-profit contributions for environmental protection, health and safety, and consumer protection.
Cohen is the author of the book, A Class with Drucker: The Lost Lessons of the World's Greatest Management Teacher. He resonates with Drucker’s teachings and beliefs over corporate responsibility and the critical role of leadership as being the basis for everything we do. Cohen believes that Drucker was quite precise in predicting the changes in management, whether for profit or nonprofit. In terms of stakeholders, it is deemed that their duty is to involve employees in social responsibility to ensure that they understand and embrace the bigger picture. Involvement is encouraged in the form of allowing employees to be part of the decision making process. Leadership is to motivate team spirit, which in turn translates to increased morale. As such, an organization focuses on employee ethics and operates according to specific ethical standards.
In the article Corporate Humanistic Responsibility: Social Performance Through Managerial Discretion of the HRM (2013), an organization’s social responsibility is assessed at three distinct levels of analysis – institutional, organizational and individual. Employees are the stakeholders that are treated with respect because the organization places their focus on their well-being, satisfaction and self-actualization. This level of investment in the employees is meant to support the Corporate Social Performance (CSP), which translates to the organization’s level of engagement in the social good that goes beyond the interests of the company that are mandated by government. Conversely, the organization’s display of corporate social responsibility communicates how their business decisions take into consideration external factors such as social, environmental and economic impacts. The article aimed to prove that the humanistic approach intertwined during the managerial decision making process leads to the creation of a supportive work environment which promotes the internalization of social values, citizenship behaviors, and cooperation.
However, not everyone agrees with the tenets of organizational social responsibility. In fact, some may argue that it is bad for the economic growth of a company. American economist and statistician Milton Friedman had a different school of thought. Interestingly, he supported capitalism and the free market with little government involvement. It is no surprise that in his article The Social Responsibility of Business is to Increase its Profits (1970), Friedman considered the corporate social responsibility to be the maximization of profits. Making as much money as possible, without ignoring the basic rules of society, the law and ethics was his platform. For Friedman, increasing profits is the one and only social responsibility for an organization, with the assumption that business was conducted...

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