Business & Society

Social Responsibility, where does it start or where does it end.   Let’s first start with the definition of social responsibility.   It is the adoption by a business of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic responsibilities expected of it by its stakeholders.   Well this definition is all mumble talk.   Here is my understanding of this definition.   Social responsibility for me is when a corporation or business that is operating within the law and guidelines with the scope of the country and I explain.   Let use Wal-Mart for an example.   Wal-Mart pays their employers the minimum wages for the state they work in because it is the law however other employers receive higher pay depending on their responsibilities.   I don’t know if you remember a basketball player named Michael Jordan that played for the bulls on the mid 80 and 90.During his time Nike made him a sponsor for their shoes however he received criticism because the shoes were being made in Chine and children were making the shoes and be force to labor.   Here in America if children work social services and the whole judicial system will be involved.  
Responsibilities of a company can defer from social viewing and region.   I don’t make excuses for companies however we cannot place a blanket label to the company without looking at all the variables.   We look at a company having social responsibility by the license to operate a business in society, long term investment, vehicle for achieving goals and reputation, activity to avoid exposure to risk, economic and constructive, relationship, responsibilities to stakeholders etc.   An example is Wal-Mart portrays and illustrates this better than anybody.   Are you are aware the Wal-Mart has scholarships for Hispanics within the Hispanic community. Wal-Mart provides back to the community which enhances society and provides a good image for the corporation.      
Bottom line is not a simple write or wrong question however a gray...