Corporate social responsibility (with an example) Research Paper

Corporate social responsibility (with an example) - Research Paper Example It is not right to say that Corporations are excluded from societies; they are part of it and hence have a role to play within in the society circle. It is the society which gives them the name and recognition, and in return there is much to be given back to the society as well (Asongu, 2007). A society could be broad in the spectrum like an oil company whose impacts are there for entire environmental system, similarly a society could be small like for a grocery store whose items are only benefited to the specified group of people. Hence Corporations are part of societies and to survive in business they have to understand the societal norms and responsibilities (Horrigan, 2010). Analysis based Point of Opinion According to scholarly literature, it can be indicated that corporate social responsibility is a modern concept and has been compiled from various definitions. According to modern literature, corporate social responsibility is a business norm that includes all the business comp onents in one domain, like it includes buyers, consumers, share holders, employees, and communities which have to be served in one system (Asongu, 2007). Hence CSR is a broad concept, a concept that reaches out to each component attached to its system (Asongu, 2007). ... In Worlds tropical regions like South Africa and North India, there have been infectious disease spreading, like malaria and leishmaniasis for which there is no cure provided just because of high poverty and fewer paybacks to the pharmaceuticals (Hirsch, 2008). On the other side, there are no cures for chronic diseases (tuberculosis) as pharmaceuticals have forgotten the moral responsibility and have prioritized wealthy attainments than society. The cures are there but the will is not and due to economic reasons and not scientific, pharmaceuticals have stopped to research and develop. It is all because the priority is wealth and money, so the norms of society, virtuousness and morality have got disappeared in the tropical regions (Hirsch, 2008). From the modern perspective, it is not wrong to say that virtue and social responsibility are just matters of the book and scripture and not more than that. According to Lynn Payer (author of Disease-Mongers, 1992) medicine industry has been dominant due to several reasons, one of the main reason is disease mongering, a concept that brutally destroys the notion of corporate social responsibility (Dossey, 2010). In the modern system, medicine industry (pharmaceuticals) generates more than one trillion dollars each year. One of the secrets for such dominating figures on revenues is disease mongering â€Å"expanding diseases and developing the demand† (Dossey, 2010). Out of the trillion, billions are spent on advertisement and marketing campaigns, which is all to bring response and acceptation from the customer. One harsh fact is that patients are customers, customers that bring demand for the industry. Hence it is not harsh to say that the system of 21st century itself is violating the