Social responsibility of business is a wildly discussed concept amongst businessmen and the whole society. According to Milton Friedman, the social responsibility of business is to increase its profits. From my point of view, social responsibility is more than that.
As Jack Ma, Alibaba’s group executive chairman said, “When you have 1 million dollars, that’s your money. When you have 1 billion dollars, that’s the trust from others. They think I can spend money better than most people do.” What he said reflects the spirit of social responsibility of business. The corporations make profits to solve society issues and help individuals. In other words, profit is never the destination.
The first thing we should know that the social responsibility of business is actually undertaken by the corporate executive of those big corporations. It’s not deniable that making as much money as possible is the responsibility for the corporate executive because he has direct responsibility to his employers. However, at the same time, the corporate executive should think about more about the society issues like helping other individual proprietors or eliminating discrimination. This is the most effective day to gain public’s respect while their respect could help the company with long-term development.
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