Relation Between Profit Maximization And Social Responsibility
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It is often a balancing act requiring you to weigh your social responsibility with the task of profit maximization.
Relation between profit maximization and social responsibility. One of the important factors is corporate social responsibility. The idea of corporate social responsibility. The proponents of the view that a firm exists solely for making profit argue about the market being the final arbiter of allocating resources and point to the market as the place where incentives for allocating resources for social and environmental causes is to be found.
This paper tries to examine the relationship between Corporate Social Responsibility and organizational profitability. This paper explores the relationships between wealth creation for an organization and corporate social responsibility. As a consequence today the concept of Corporate Social Responsibilities CSR draws much more public attention.
As a business owner you are tasked with many responsibilities. One of the important factors is corporate social responsibility. The dominant issue confronting corporate management today is the issue of corporate profit maximization in relation to corporate social responsibility CSR.
Generally the view is that in order for a business to undertake socially responsible practices there is often increased financial and non-financial. Many tools are used to measure the organizational profitability while those of the corporate social responsibility can sometimes be unreliable or insufficient. September 27 2016 by Trembly Law.
However turning a long-term profit is never a simple and easy task. Prioritizing profit maximization and social responsibility is an issue that calls for attention. The main focus of this paper is to assess whether corporations can be profit maximizing and concurrently pursue socially responsible activities.
There is an idea that businesses focused on money are greedy and dont care about social issues or that socially responsible businesses cant increase stock values. Many tools are used to measure the organizational profitability while those of the corporate social responsibility can sometimes be unreliable or insufficient. Maximizing Profits and the Theory of Social Responsibility of Business Corporate Social Responsibility.
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