Should Corporations Be Socially Responsible or Just Solely...

Issue: Should corporations be socially responsible or just solely profit driven? Bibliography Ayn Rand. â€Å"the anti-industrial revolution† from the new left: The Anti0Industrial Revolution, Penguin Group New Zealand, Limited, 1996, 127-151 Joel bakan. â€Å"The Corporate rise to dominance† from The Corporation: The Pathological Pursuit of Profit and Power, Simon amp; Schuster, 2005, 5-27 John Steinbeck. â€Å" The Grapes of Wrath: Chapter 5 â€Å"from The Grapes of Wrath, Josef Weinberger Plays, 2008, 32-41 Milton Friedman. â€Å"The Social Responsibility of business is to increase its profits† from business ethics: A Philosophical reader, Thomas I.White, ed(s)., Maxwell Macmillan Canada, 1993, 162-167 Edward Broughton,(2005, may 10)†¦show more content†¦(William Fray). This made the corporation a separate legal person acting in its own rights under the law, this aided in the birth of a â€Å"companion† of the corporation known as its invincible friend. This invincible friend is sometimes or even more often who corporations easily push the blame on when they run into trouble. When in actual sense it is the board of directors or executives that make the wrong decisions and most times end up getting away with it as they claim they were only acting in the best interest of the shareholders which is the reason they were hired in the first place. In the Anti-Industrial Revolution, Rand imagines a fictional world in which he observes a young man in 1975, married with children and owes a modest home in the suburbs of a large city having to get up by 4.00a.m if he is to be at the office by 9.00a.m due to the condition he finds himself in which includes; that electric percolators are no longer produced, no electric cookers or toaster, private automobil es being outlawed and replaced by mass transportation, bus delays and several other factors. He also had to bring his own lunch to the office since there are now far fewer restaurants around. He’s grandmother died due to non-existence of a â€Å"pace-maker†, he has to obey the rule of having one bulb per room, his wife hasShow MoreRelatedEssay about Welch Case Study1466 Words   |  6 Pagesï » ¿Welsh Case This particular case discusses whether General Electric fulfilled its Corporate Social Responsibility under the leadership of Jack Welsh or if it just met basic obligations. It also displays the evolving idea of social responsibility in a corporation by contrasting the corporation’s actions during Welsh’s leadership and after Welsh retired. It is shown that Welsh had a classical economic view of social responsibility. 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