When it comes to corporate social responsibility (CSR), do you think companies should lean toward Friedman or Carroll’s ideology? Explain why you think your answer is better for the company and its stakeholders.
PLEASE EXPLAIN WHETHER YOU AGREE WITH MY CLASSMATE RESPONSE TO THE ABOVE QUESTION AND WHY? (A MININUM OF 125 WORDS)
I think corporations should lean more towards Carroll (1991) ideology. One of the reasons that I believe Carroll ideology should be followed is that it suggests companies should not focus solely on profit, although profit is how an organization survives, but the impact that its goods have on consumers. Leaders in an organization not only have a responsibility to ensure that a profit is generated but must also ensure that the corporation is operating in the realms of what is considered ethical, legal, economic, and philanthropic as these elements are all part of the blueprint for what an organization needs to be successful and show their commitment to corporate social responsibility. Carroll (1991) argues, “The total corporate social responsibility of business entails the simultaneous fulfillment of the firm’s economic, legal, ethical, and philanthropic responsibilities” (p.43). When organizations design a plan that adheres to corporate social responsibility they are more likely to be successful in areas other than profit.