Social Responsibility as a Tool for Encouraging Corporation

In the business world, the use of corporation is to generate profits. After earning profits, they can create other business locations, gain competitive advantages, increase market share and expand their operations into all over the world in order to maximize profits. However, I disagree what Friedman had said “corporation doesn’t have any social responsibility'. I believe that rather than just maximize profits, social responsibility is also important for corporation.

Some company concentrate on maximizing profits either considering social responsibility because they don’t want to withdraw money on that aspect. Otherwise, their profit will be reduced. Nevertheless, just thinking about of how to maximize profits but ignore other factors of corporate social responsibility may produce side effects of corporate behavior. For example, a company invent a low-priced car and receive a high profit on it, but the car may lack some basic safety features, have poor gas mileage and contain many harmful pollutants in its exhaust . As a result, it affects human respiratory system and the environment. Although it shows a high profit, but it would also divulge a lack of social responsibility. The external will consider the company is not consciences enterprise.

When corporation perform their social responsibility well, they are not only improving people’s living standard, but also creating goodwill for themselves to attract more customer and business partners. Charitable giving, and Socially and environmentally conscious investments are the key factors that will be explored in this essay.

First of all, for charitable giving, using McDonald’s as an example, it runs as fast-food chain. A total of 37,855 restaurants worldwide in 2018 . They mainly focus on marketing towards Children. They keep doing charitable giving while making significant profits, it shows a discretionary responsibility of them. Ronald McDonald House Charities is one of the charities donated by McDonald’s. It provides families of sick children with a home to stay at while their child is being treated at a nearby hospital. It’s the philanthropic responsibility of them to help different groups of society. This kind of behavior let people to know McDonald’s not only selling fast food for profit, but also helping people in need.

Besides, The Walt Disney Company is trying their best in order to improve labor policies and environmentally conscious investments. Disney is committed to diminish its carbon footprint with goals for zero net greenhouse gas emissions, zero-waste, and a commitment to conserve water. Its action can let people that they are helping to improve the environment and they will keep supporting Disney. Other than that, they also keep finding ways to improve the working environment of their employee. They are actively ensuring that they set strict international labor policies to protect the safety and rights of their employees. Also, they active in the community and encourage employees to do the same. They also have healthy living initiatives to promote healthy eating habits amongst employees. When the corporation treat employees better, the corporation can not only improve their image to the employees, but also raise the effectiveness of the employees too.

Furthermore, Dialogue in the Dark Hong Kong shows socially conscious. Its aim is to change the public's perception of disabilities, they are just different with normal people but have different abilities as they can still contribute positively to society. The organization goal of DiDHK is not only earning money, but also allowing the public to know the experience of being blind. Therefore, more people will care those disabilities more and employ them.

In conclusion, many companies may want to concentrate on maximizing profits, but it may neglect the consequences of the society. On the other hand, when corporation can perform their social responsibility well, they can not only help the society, but also gain goodwill to attract more customers.