Sunday, February 2, 2020
Rethinking the social responsibility of business Essay
Rethinking the social responsibility of business - Essay Example Every organization works with the goal of making some money. Either they consider that as profit earned or that contribute to the society by providing value addition to their stakeholders or they need that money to re-invest and cover the cost of their running business. But in any-case money is required. Thus, if a businessman complies to the social responsibility only, he/she will be required to behave in many ways which provide no benefits and in some cases loss to the owner of the business. For example, if he starts hiring hardcore unemployed people in the organization for contributing to reducing unemployment from the society and not well equipped and highly qualified workers, the companyÃ¢â¬â¢s performance will greatly suffer and the owner will be in great debts ultimately. Jhon Mackey has made a major mistake in statement where he openly declared that the shareholders have the right to leave the company and invest their money elsewhere. This portrays his un-professional attitude, as the investors and the shareholders are the major assets for the company form where all the funding is coming in. For any business, it is very essential that the shareholders and the investors remain happy with the companyÃ¢â¬â¢s and its employeeÃ¢â¬â¢s performance, else the company will not survive and go bankrupt.