Social responsibility and managerial ethics assignment

In general, Companies supply goods and services, because the market economy system offers incentives if the companies do it. Market economy operates according to Adam Smith’s invisible hand. (Nick, 2008). Companies contribute social interests to get intangible benefit such as goodwill. Corporate social responsibility can be a long-term economic performance. This action achieve the sustainable development of society and economic. Avon Products Inc. was being socially responsible when it started its Breast Cancer Crusade to provide women with breast cancer education and early detection screening services.

After 14 years, this project has increased more than US$400 million in 50 countries worldwide. Brazilian cosmetics manufacturer Natura developed sustainable development projects with farmers and small communities. It is socially responsible. Why? Through each of the programs, managers have protected and improve society’s welfare. (Robbins, Bergman, Stagg & Coulter 2008). Nowadays, more and more companies are conscious of that in order to keep powerful in produce and compete in a constant changing market, they need to become socially responsible.

For example, Since1999, Optus has been a major sponsor and partner of Kids Help Line, which is a free confidential telephone counselling service for young people who are aged 5 to 18. (Robbins, Bergman, Stagg & Coulter 2008). Conclusion Companies should devote more time and resources to managing their corporate social responsibility. CSR in generally means that management achieve sustainable development between company’s profit and society’s benefit. If companies pay attention to CSR, it can refer to increasing their competitive force in the global market.

Companies need to carry out their real CSR, not for face job or the Giving List. Corporations are not responsible for all problems of the world, and they also do not have enough resources to solve them. Each company can decide the particular set of societal problems which can balance the ability of solve problem and the competitive benefit. Reference list Crook, C. (2005, Jan 20). The good company. The Economist. Retrieved August 28, 2011, from http://www. economist. com/node/3555212? Story_id= 3555212 Catalyst Consortium (2002). What is Corporate Social Responsibility?.