Business and Social Responsibility - 1140 Words

When a business gets incorporated regardless of the business size and the nature of profession requires an adequate execution methods for being successful and to achieve its goals. Some of these goals can be short-term or long-term, depends on the nature of business. Likewise, these execution methodologies can be vary time to time as the corporate needs to satisfy different groups of people such as : top hierarchy stakeholders, staffs ,shareholders, and even non-related business groups such as environmentalists . In 21st century people having a better understanding of incorporated businesses in their societies. Having said that, most medium to large size corporations are active in international markets which brings them more challenges and†¦show more content†¦Also, Bombardier’s sustainability policies as part of corporate social responsibility is publicly available and it is more clear to stakeholders. The corporate strategy that drives Bombardier successful is based on the concept of shared value: creating better ways to move the world meets a fundamental societal need. It is the necessary answer to urban congestion and sprawl, escalating oil and energy prices, environmental challenges, and the overwhelming need to connect people to opportunity and to each other (bombardier, 2014). Another important factor of success is having a solid CSR strategy. CSR can act as an advertisement component for bringing new investors and stakeholders to the company. Part of the strategy is to keep people in communities involved to the company’s project. Bombardier has been involved in research with universities which uses of new graduate students and intern .This also means create more jobs for the communities and one of the consequences is facilitate of communities growth (mediacentre.bombardier, 2013) . In conclusion, with the increased attention to CSR by all stakeholders, it is a must to integrate a CSR model to the corporate strategy as a key factor of success. CSR canShow MoreRelatedThe Social Responsibility Of Business932 Words   |  4 PagesA corporation does do business within a vacuum; rather exist as part of larger collective framework of society, stakeholders and a global business community. I believe that corporations which are profitable, and promote moral and ethical standards are the benchmark of success; additionally, corporations bear a great social responsibility to the society it exists within, an simply working within â€Å"the basic rules of society, both those embodied in law and those embodied in ethical custom† is not enoughRead MoreThe Social Responsibility Of Business1422 Words   |  6 Pagesthe business be held accountable for these actions? 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However, Cohen’s article on social responsibility drew a lot attention from other scholars like Friedman. In view of this, this paper will discuss and define the concept of social responsibility of a business to its workers, stakeholders, and society; how the perspectives align with that of Drucker; comparing Cohen’s opinion with that of Friedman and finally determines which of the two individual’s opinion best aligns with the current business climate promotingRead MoreThe Social Responsibility Of Business Essay1959 Words   |  8 Pagesagree or disagree with the following quotation: â€Å"There is one and only one social responsibility of business—to use its resources and engage i n activities designed to increase its profits so long as it stays within the rules of the game, which is to say engages in free and open competition, without deception and fraud.† Milton Friedman, a Nobel Prize winning economist. In other words, the social responsibility of business is to make a profit. 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