Market for Virtue Chapter 1, Essay Example

Corporate responsibility is characterized by a commitment to the well-being of not only the company, but the greater society as well.  In this way, the question of what exactly makes a virtuous company is essentially one that will create a better environment for its own growth by adhering to these goals.  Through the adherence to the mission of social responsibility, a company can essentially be turned into a positive social force.  The question of whether these companies have the obligation to uphold these responsibilities is the fundamental issue in regards to the idea of CSR.

The activities that a company should engage in in order to be held responsible includes the upholding of corporate and social responsibility as well as committing to the incentive of improving life for both their own employees and the public at large.  Corporate and social responsibility (CSR) is essentially the incentive for companies to promote positive social change within their communities, thereby generating the need for moral and ethical behavior.  In promoting these concepts, the application of CSR will essentially push these changes towards moral and ethical responsibility in the decision making processes of these corporate entities.

Whether or not a company should engage in these responsible acts is something that is debated.  This is due to the question of whether or not the company will be able to continue to do well under pressure from competition.  Arguments against these ideas present the idea that it is not in a company’s best interest to concern itself with these problems.  Instead, they should be concerned with improving their bottom line.  In this way, the only moral responsibility that a company has is to boosting revenue for its shareholders and expanding the business itself.  Furthermore, critics also make the argument that there is no evidence that CSR has any positive effects on either the companies or society as a whole.

The growth of CSR indicates that corporations are becoming more responsible.  Adherents to CSR are growing, and there is more and more importance being placed on the moral responsibility of companies. This indicates that these ideas are being applied by companies. In doing so, they will be able to provide better management to society at large through the application of these methods.