| Which comes first: social responsibility or profit? | |
|---|---|
| Sep 28, 2007 04:17 |   |
 | A report from Times Magazine said that China's corporation should pay much attention to social responsibility in order to succeed in the fierce global competition. Social responsibility is a company's commitment to the local or national community. However, nowadays, some profit-hungry enterprises put "profit" on their top priority. When there is a conflict between "fulfiling social responsibility" and "gaining profits', many short-sighted entrepreneurs put aside the social responsibility. Some toy-making companies used the low-quality material to make toys, which damaged the reputation of made-in-China products. The continuous negative report on Chinese toys were caused by those companies who lack the sense of social responsibility. Wal-Mart has ever been blamed for the unwillingness to fulfill social responsibility. In China, social responsibility has been put on the agenda. Social responsibility, profit, which should come first ? |
| Sep 28, 2007 04:31 | #1 |
| Definitely, the profit is the priority. Without profit, how can they survive? If they can not survive, how can they fulfill their social responsibilities? |
| Sep 28, 2007 14:31 | #2 |
| "Definitely, the profit is the priority. Without profit, how can they survive? If they can not survive, how can they fulfill their social responsibilities?" This is a good example of short-sighted behaviour. Social responsability shall come first since most of the time it is not so expensive that you ll have to reduce your profit drastically. This is the difference between a profitable company and a commercial nonesense. The first thing a company director must think is in which market will I find a niche? Here in Yvonne's example the market is the kids toys: this market is ruled by many rules you have to respect since kids are special consumers. They need more protection and more safety. Producing a product without thinking about the users of this product is pure nonesense, this is the result you just care profits. In some cases, Europeans were responsible because they just determine the price they want to buy the product then the chinese companies do as they can. But ethic shall be more important than just money. Unless you want to finish like the CEO (i guess it was his position) that committed suicide because of this toy problem since he feared justice, you shall first take care of social responsablities if you dont want yours to be questionned in front of a court... |
| Sep 28, 2007 14:38 | #3 |
| Money is not a goal in itself, it is just a mean... Never forget this, there is nothing more important than a life (no matter who, yours or the one of a burnt kid). Once you are dead money is not useful anymore... There are thousands of ways to make money respecting the rules. Yes you'll live maybe not as richly as the one who doesn t care about these rules but at least you can be pride of you and respected for this. |
| Sep 29, 2007 05:53 | #4 |
| Most companies care about long term profits,and their share price, so they have to be reposible or the market will not exept their goods in the long term.So selling well made product along with good service will always win in the end ( make a profit) We all try to make a profit. Is it that bad? As long as we do no harm to others. We cannot presume that all business' are out to rip us off. The profit motive was once removed from some countries becauce it was concidered evil and not fair on some. I do not need to give an example here. We all exchange some thing of value to us for something of perceived higher value....even Erencius I would think? Dodger. |
| Sep 29, 2007 21:40 | #5 |
| Hi you guys, What is the relationship between " being socially responsible " and " making profits"? Can it be a win-win game?Or it is a "Zero-sum game'. The answer is that " definitely, you can achieve a win-win situation as long as you have the willingness to do the good. A postive image is a huge intangible asset for a company. Through fulfilling the responsibilities to the local community, a corporation can win a right image in the public.Customers will be sure to patronize your goods and service. Erencius is right. kids are special consumers.They need more protection and more safety. So, which comes first, social responsibility or profit? You decide. |
| Sep 30, 2007 05:38 | #6 |
| Quote: "We all exchange some thing of value to us for something of perceived higher value....Erencius I would think?" Seems you are stuck in Cold War era haha. I never said profit is evil I said there are many things more important than this. No need to be Manichaean. I just said money is a mean not a goal but a mean. It doesn't mean you shall not make money. Making profits is not exempting anyone from thinking. |
| Sep 30, 2007 06:46 | #7 |
| Any business enterprise needs to maximise the profitability of its operations in order to justify its continued existence... if it does well at this it will supported by its owners chosing to invest further in growing the business' activities, if it does poorly the management will be damned for their failure, and any profits made will likely be diverted elsewhere. The management must operate with proper regard for legal constraints but it is not their job to act in 'socially responsible ways' unless these contribute to the future profitability of the business. Capitalist enterprise is a simple system which harnesses human initiative and labour and turns it into goods and services which people want, and which improve their lives. 'Social Responsibility' is the preserve of Consumers and Law Makers. Of course 'Consumers' and 'Law Makers' tend to be human beings who may also be 'Owners' or 'Investors' in businesses. There are many examples of profits made industrially being applied to advance social standards, but this is rarely a 'Corporate' act. |
| Oct 1, 2007 04:07 | #8 |
| Erencius, ha..not stuck just remember. Perhaps I still have some scar tisue from that time? But I do agree that money is only a means to an end. In it's self it is nothing. Travellermike, IMO a good post..but will they understand? Dodger. |
| Oct 8, 2007 02:18 | #9 |
| Quote:it is not their job to act in 'socially responsible ways' unless these contribute to the future profitability of the business. You could be right. That is the truth. But I insist that they should do some other things that are good for the public. Where do their profits come from? From the consumers, the public. Without them, how can they survive? Charity is a good choice. 'Social Responsibility' is the preserve of Consumers and Law Makers. Personally, I think that these companies should take the social responsibility while making profits. |
| Oct 8, 2007 06:34 | #10 |
| Jimmyb, start a company and then let us all know how socially responsible you are when you money and the well being of your Family is on the line. Come down from the Pulpit and join us. Dodger. |
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