Corporate Social Responsibility - Contrast the Entine & Jennings with those of Friedman & Freeman

Contrast the Entine and Jennings views with those of Friedman and Freeman

     Corporate Social Responsibility is an umbrella rubric for a variety of organizational practices that are intended to serve stakeholders beyond the firm’s owners, including employees, customers, communities, and society at large (Chin, Hambrick and Triviño, 2013, p. 202).  Milton Friedman states he believes that business’s are here to make money and to provide a service and a product to the average person.  He also states that individuals, corporate executives, that run the corporations in which the stockholders are relying on for their best interest to make money, can handle the companies funds but in doing so that person must handle the funds correctly to make proper investment for the firm.  If that individual handles the funds wrongly than the company and stockholders will loss great amount of money.  The whole justification for permitting the corporate executives to be selected by the stockholders is that the executive is an agent serving the interests of his principal (Friedman, 1970).

     Jon Entine and Marianne Jennings states, that corporation need these days to be conservative and protect the environment since this is the best interest for all parties concerned.  Corporations cannot do what have been done in the past to neglect the environment and take what they need to produce a product for the consumers.  Entine and Jennings states that corporate social responsibility is everyone’s business and we all need to worry about it since it deals with everyone on this planet we all need to be considerate with the environment.

     Edward Freeman states that when he was a young lad his father was showing him that he was filing an expense report and how it was easy to cheat.  His father knew it was the wrong thing to do, this is when Freeman knew what he wanted to be when he grew up which obtained his interest was to learn about business in ethics he states that this is a contradiction in terms.  He states that everyone needs to understand ethics and that this is the way to go in business.

     All four scholars mention in one way or another that each of their views are important for everyone and that we all need to work together and make things right for ourselves and the environment.

                                                                          References

Chin, M.K., Hambrick, Donald C. and Triviño, Linda K. (2013, June).  Political Ideologies of CEOs: The Influence of Executives’ Values on Corporate Social Responsibility.  Johnson Cornell University.  Administrative Science Quarterly 58 (2)197-232, doi: 10.1177/0001839213486984

Darden School of Business (2013). University of Virginia.  http://www.darden.virginia.edu/web/Faculty-Research/Directory/Full-time/R-Edward-Freeman/

Friedman, Milton (1970, September).  The Social Responsibility of Business is to Increase its Profits.  The New York Times Magazine.

Jennings, Marianne M. (2012).  Business Ethics, Case Studies and Selected Readings.  Seventh Edition.