The Assignment on Philosophy Introduction

Running head: PHILOSOPHY
Philosophy
Name of the Student
Name of the University
Author Note

1PHILOSOPHY
Introduction
It has been acclaimed worldwide that the corporation across the world have some
responsibilities towards all the stakeholders they are working with. The growing concern still
remains about the fact that corporations do not perform their responsibilities towards
stakeholders and this becomes the loss of organizational reputation to some extent. In this essay,
the roles and responsibilities of the corporations would be discussed regarding the liabilities over
both their internal and external stakeholders (Cheng, Ioannou and Serafeim 2014). One of their
most crucial external stakeholders is society in which they are doing their business. The views of
three critics will be discussed here to assess their positions on stakeholder responsibilities of the
firms. The approaches of social responsibilities of the firm will be discussed and the best
approach will be highlighted so firms can implement this approach to gain better reputation. The
organizations must look to provide their stakeholders with best facilities to be able to conduct the
business properly.
Thesis statement: Fulfilling of social responsibilities will earn the firms the opportunity to
create a positive impression in the minds of their internal and external stakeholders.
Responsibilities of corporation towards society
The critics have opined that corporations should provide jobs to people in the society. It
would surely enhance the socioeconomic conditions of the society and help to eradicate poverty
from the society. When a company would meet all their social obligations and provide their
stakeholders opportunities for critical acclamation, it can be counted as a socially responsible
corporation (Cheng, Ioannou and Serafeim 2014). The economic conditions of the society would
definitely improve if the people are employed at various places and they are able to enjoy money

2PHILOSOPHY
in return to their labor, it will be the best thing for the entire society. This perspective is regarded
as the basic and fundamental duty of corporations towards society. Another form of showing the
responsibility for organizations is to provide a proper and safe working environment for all the
employees (Crane, Matten and Spence 2019). The multicultural environment in the organizations
would be the most effective to accommodate people from all ethnic and religious backgrounds.
If the organizations do not encourage any type of social discrimination, it would be the
best way for them to increase their reputation. The managers of the organizations should also
look to provide job security to all employees and improve the social conditions without criminal
activities. Criminal activities can decrease if a large section of the population is employed and
economic challenges do not affect them that much. It is their due responsibility to keep their
place solidified in the list of ‘Great Places to Work’. Business executives of the corporations
must not forget the fact that customers are parts of the society (Crane, Matten and Spence 2019).
So, they should always work hard to satisfy their needs and desires. Honesty and integrity
of the firms are essential for them to create the positive impact in the minds of their customers.
They should also communicate social messages with customers and make them aware of the
changes that might come. Another way of being socially responsible is to tackle environmental
challenges within their operations (Flammer 2015). They could opt to use green technology that
would help them to control environmental pollution. Thus, keeping safe environment is also a
mode of catering to the needs of society.
Corporations should also be transparent to their people through updating their processes
and keeping it public. Otherwise, customers will always suspect something wrong with their
approach. Companies should also maintain legal accountabilities and pay their dues to the