To Make Money or Serve the Society? Essay

Exclusively available on IvyPanda Available only on IvyPanda
Updated: Feb 28th, 2024

Corporations, like any other business is driven by goals and objectives, most of which revolve around maximizing profits by reducing costs. This is currently a common scenario in many corporations especially after the global recession that has taken a hold on the financial stability of corporations. In order to tackle this challenge, most organizations have opted to downsize their team of workers by laying off their employees with the aim of making more money in spite of the financial constraints. This is clear evidence that the primary duty and concern of any corporation is to make money. However, when the issue of the corporation to serve the society arises, then it kind of compromises the main focus of the corporation, which is to make money. Therefore, this essay will support the fact that conflicts are inevitable when a corporation decides to acknowledge the duty to serve the society.

We will write a custom essay on your topic a custom Essay on To Make Money or Serve the Society?
808 writers online

The importance of social responsibility of corporations is “to create wealth, to provide good jobs, and to offer products and services that serve genuine human needs” (Kennedy par.2). This acts as an obligation to corporations in that apart from creating wealth, they also need to go back to the societal requirements to provide employment and services that provide human needs. However, the fact that corporations need to offer support to the community in implies that the efforts of the corporations to contribute towards economic benefits is not enough. Conflicts that arise are about corporations arguing that they pay taxes and thus any further demands shift their focus from making profits to serving the society suggests that they “unfairly take something away from the community” ( Shiely 4).

The social responsibility placed on corporations requiring them to share their resources, such as cash, physical property and time, to address the requirements of the society seem to be outside the goals of the corporation’s operations. Furthermore, the duties to corporations to chip in their money during fund drives or to run the drives are a major cause for conflict. This means that the money of shareholders will be used for the purposes of the public which is neither lawful nor consensual. The conflicts that will arise therefore will revolve around the unlawful utilization of the corporation’s resources and unsatisfied shareholders. Such fund drives or donations are the source of extra costs that seem to be act as an impediment towards achieving the goal of making money and cost reduction. It can be argued that as corporations sacrifice much to attain economic benefits, the society gives very little and wants much in return. Such contributions are not a moral requirement of corporations and therefore, these duties imposed on organizations should not act as controlling factors to corporations since they give rise to conflicts.

The introduction of social responsibility has resulted in the introduction of many issues like giving back to the society and involving in the activities of the society such as fund drives and offering good employment opportunities. These have been the major causes of conflicts in corporations that seem to be driven towards making money. Such conflicts emanate from the most important organs of the corporation such as the shareholders and the management. Therefore, conflicts are inevitable when corporations acknowledge the duty to serve the society.

Works Cited

Kennedy, Robert. Does a Business Corporation Have a Responsibility to Society.

Action Institute for the Study of Religion and Liberty, 2009. Web.

Shiely, John. “Economic Value Added: A conscience For Business.” Religion and Liberty 13.6 (2003): 4. Web. 2010.

1 hour!
The minimum time our certified writers need to deliver a 100% original paper
Print
Need an custom research paper on To Make Money or Serve the Society? written from scratch by a professional specifically for you?
808 writers online
Cite This paper
Select a referencing style:

Reference

IvyPanda. (2024, February 28). To Make Money or Serve the Society? https://ivypanda.com/essays/to-make-money-or-serve-the-society/

Work Cited

"To Make Money or Serve the Society?" IvyPanda, 28 Feb. 2024, ivypanda.com/essays/to-make-money-or-serve-the-society/.

References

IvyPanda. (2024) 'To Make Money or Serve the Society'. 28 February.

References

IvyPanda. 2024. "To Make Money or Serve the Society?" February 28, 2024. https://ivypanda.com/essays/to-make-money-or-serve-the-society/.

1. IvyPanda. "To Make Money or Serve the Society?" February 28, 2024. https://ivypanda.com/essays/to-make-money-or-serve-the-society/.


Bibliography


IvyPanda. "To Make Money or Serve the Society?" February 28, 2024. https://ivypanda.com/essays/to-make-money-or-serve-the-society/.

Powered by CiteTotal, free reference maker
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Request the removal
More related papers
Cite
Print
1 / 1