Social Responsibility in Business Ethics
Jeffrey Hayzlett's study titled "Why Should Your Business Care About Social Responsibility?" depicts the development of attitudes towards Corporate Social Responsibilities (CSR) by different companies. Naturally, he writes that 50 years ago, the matter of CSR was perceived as a PR trick, especially after the appearance of scandals in many companies. Nevertheless, Hayzlett reaffirms that attitudes and the practices themselves have changed dramatically. The digital age has influenced the attitudes and ways of most companies regarding CSR. Easy access to information nowadays has transformed the customer into a savvy customer. The author indicates this smart consumer is willing to pay a larger price for goods of companies that are socially and environmentally responsible (Hayzlett, 2016). Evidently, these attitudes spell a change in consumer demands and, therefore, changes in business organizations and orientations.
Changes in consumer demand, influenced by preferences towards socially and environmentally friendly companies, result in incorporation of CSR goals in business plans, strategic plans, and corporate visions of the various companies. Non-compliance with social responsibilities serves as a fertile ground for legal actions against the company and diminished employee engagement (Hayzlett, 2016). CSR is now seen as a moral gauge which is used to measure the ethics of the various companies. CSR, therefore, determines the attractiveness of a company to both consumers and staff.
In the article, Hayzlett indicates that the social responsibility of a company has become an integral part in the recruitment of employees. In addition to employee engagement, the piece also outlines opportunities presented for small and medium enterprises to play their part in promoting the "B (benefit)-Companies" activities. The "B-Companies" are companies that epitomize the responsibility through consideration of people, planet, and profits (Hayzlett, 2016). These corporations have been able to carve a niche market for themselves and thus better interaction with investors, consumers, and employees.
In general, the article by Hayzlett has presented the case why companies need to be more socially conscious in the modern digital age. New opportunities and better interactions with employees, consumers, and investors are just a few examples of the advantages of a socially responsible company. The article, therefore, advocates for socially and environmentally friendly companies.
Reference
Hayzlett, J. (2016). Why Should Your Business Care About Social Responsibility? Entrepreneur. Retrieved on September 19, 2017 from https://www.entrepreneur.com/article/269665
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