The Responsibilities of Corporations: An Analytical Appraisal

Abubakar Sadiq Kasum ()
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Abubakar Sadiq Kasum: University of Ilorin

Chapter Chapter 15 in Corporate Social Responsibility in the Global Business World, 2014, pp 261-270 from Springer

Abstract: Abstract The concern for this study is about the long-drawn-out CSR argument, which was observed to have been controversial, because the responsibilities of businesses are rarely critically analyzed. The study, therefore, appraises the responsibilities of businesses based on a strictly just and fair relationship with all the stakeholders. So that corporations are only and ‘strictly expected’ to do what is right and fair at all times—being ethical. The study suggests that corporate responsibilities can be classified from three guises namely primary (which are about a business’s survival in its market and industry), secondary (which is about its responsibilities as a corporate citizen) and tertiary (this in effect is discretionary and is about its moral obligations to society and its stakeholders). The study observes that all corporate responsibilities, except philanthropy, can be and should be discharged by corporations and that this will only mean doing the right things which have been argued to be good for business. The study is also of the opinion that if corporations are fair especially with, measure and value as they relate to price, philanthropy will rarely be possible and may even be unnecessary. The study, therefore, concludes that rather than cutting corners in terms of their charitable obligations, corporations should be compelled to do what is right and to act fairly in their dealings with stakeholders.

Keywords: Corporate Social Responsibility; Social Responsibility; Corporate Responsibility; Corporate Philanthropy; Corporate Social Responsibility Strategy (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-37620-7_15

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DOI: 10.1007/978-3-642-37620-7_15

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