Corporate Social Responsibility (200 words)
Corporate social responsibility has become a vitally important factor in today’s business. However, how a company perceives its responsibility may differ. Read over the following prompts and choose ONE for your discussion response:
1. The late U.S. economist Milton Friedman made the famous statement that the only social responsibility of business is to make money for stockholders. Others believe that any organization which makes money in a society should give back to that society. Is the former a reasonable belief? Is the latter stealing from Investors? What position would you take if you owned the largest company in your community?
2. Lego has been making children’s toys since the 1930s and its iconic plastic building blocks since 1958. Company executives, wanting their products to have a lasting legacy, have launched several initiatives to leave the world a better place. Visit Lego’s website to learn more about these initiatives and search for Lego on YouTube. What responsibilities do you think Lego has to its customers—the children as well as their parents? Are these initiatives consistent with the firm’s mission and values Why or why not? Search YouTube and then describe how Lego’s sustainability efforts compare with those of rivals like Mattel and Hasbro.
