MGMT 3320 Lecture Notes - Lecture 5: Corporate Social Responsibility, Corporate Action, Consumerism
16 Apr 2016
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Document Summary
Frequently, the focus is on the responsibiliies of businesses. If consumers began demanding speciic minimum standards from irms and took their business elsewhere if the irms failed to comply, those irms would be forced to change their pracices. Is the absence of such acive consumerism, how can we expect businesses to introduce. Proit as a result of the acions of the irm, is an end to itself. There is one and only one social responsibility of business to use its resources and engage in aciviies designed to increase its proits. A business has to have a moivaion other than merely making a proit in order to jusify its existence proit is merely a means to achieve a larger end. A irm should not remain in existence just because it is proitable, but because it is meeing a need that society as a whole values.
