How Social Responsibility of Corporations Relates to Business Ethics Assignment

How Social Responsibility of Corporations Relates to Business Ethics - Assignment Example The Government must play its role in harnessing the skills attached to the corporate sector in finding out the better means in which it can benefit the society. For that certain loans and grants can also be fixed for a certain company depending on its market level in the business world. Extensive research has found that corporate responsibility is becoming an essential part of any company’s day-to-day undertakings. Thus, the responsibility played by the Government as well as the citizens in this regard should be quite eloquent and expressive. Their voice is given due value by the company and it does just about everything to get more and more customers and consumers which in turn excites it to search for better means to get the very same people. This, in turn, attracts the company to sponsor big events and sports galas, competitions as well as come towards social welfare works, which really benefits the society in more than one ways. Mr Higgins, who completed a research on the local community, was not that enthusiastic about the role played by these companies in the social sector. People, according to him, were of the view that these companies filled in social responsibilities to a certain limit and not beyond that extent where other large organizations jumped in and took the lead. For the small business owner, CSR means a different thing altogether. He sees it in a different attitude encompassing his own business and its responsibilities fulfilled for the betterment of the society or let alone none at all. Corporate Social Responsibility helps as a survival agent for any business in the new atmosphere of an economy. By that, it means whenever the economic climate changes, it favours the CSR that has been initiated by a business with respect to its role in the fulfilment of the social responsibilities. This can be regarded as an advantage of CSR whereby the business gets a slight edge as opposed to the other ones in the corporate world who haven’t actually started with the idea of investing with consideration to the society in the forms of different sponsors, helping of non-Governmental organizations and the like.