A corporation can be defined as a group of sub-ordinates where they perform as a single entity. Facebook, Apple, Samsung, Nike and Adidas are some of the examples one can think about when talking about corporations. Therefore, a corporation is often seen having similar rights and responsibilities if not identical that an individual acquires. When we talk about whether a corporation can be held socially responsible it is always good to look at both perspectives which are arguments against and in favour of it before we can make a judgement.
Arguments against whether a corporation can be held socially responsible (narrow view) Arguments in favour of whether a corporation can be held socially responsible (broad view)
Corporations doesn’t have any social responsibility and their only responsibility is to make money to its owners. It can be seen that businesses get their licenses from the community and it is very critical for businesses to do something for the betterment of the community.
Corporations doesn’t have the expertise or the skills that are required to deal with the social problems and therefore would be enforcing their rules and regulations on to the society and that is why they believe that it should be handled by the government because they can’t handle it Corporations have tremendous amount of resources which can be used to serve the community better.
The only accountability businesses have is towards their shareholders. Social involvement towards the community should be the interest of the shareholders