Assessing Corporate Responsibility

"Fair and just treatment in the workplace is an issue the company must face in making a decision for foreign outsourcing of labor." (Jennings, 2012, pg 91) Jon Entine and Marianne M. Jennings have opposing views as compared to those of Friedman and Freeman. First, according to Friedmans' view the social responsibility of business is to increase its profits. As far as he was concerned a individual can act according to his own desires because he is in fact separate and apart from the organization. Friedman suggested, that a corporation is an artificial person in a sense , therefore lacking responsibility as it were. Also, according to Friedman, in a free-enterprise, private-property system, the corporate executive or manager is only an employee thus, having primary responsibility only to it's employer, business owner and other stockholders within the organization. Basically his only interest it to that of the businessmen. Furthermore, Friedman implied that later on it will be the "iron fist of the government bureaucrats" that will be the external force to cause organizations to comply or to operate in a manner suitable to social responsibility. Freeman wanted to rejuvenate the idea of managerial capitalism by replacing the notion that managers have a duty only to the stockholder , but more importantly a more legally and ethical trusted relationship between the stockholders. In both cases, the dedication to the stockholder and maximizing profits was ideal. On the other hand, Jennings and Entine has eluded to the idea that organizations and businesses are more socially conscious. Therefore, are more compelled to do what is morally and socially proper. According, to Jennings and Entine companies are engaged with producing more "green" and sociable responsible products. Although, they suggest that no company can ever be ethically perfect, you can still make a determination by conducting examination of the soul of the company. References Jennings, M. (2012). Business ethics: Case studies and selected readings. 7th ed. Mason, OH South-Western Cengage Learning. Friedman, M. (1970). The social responsibility of business to increase its profits. New York Times, 32- 33, 122-124, 126 Kurbjeweit, Brian H. (2001). The relationship of ethics and law in governing the game of business. Journal of business ethics, vol 8 Issue 1, p55-62, 8p.