6.3 Read the introduction to an essay with the title To what extent should large international more different than alike", companies make acting in a socially responsible manner more of a prioritu

Question

Introduction

health care and educational facilities for workers and their families.

Large international companies play an increasing role in the everyday lives of people across the world. It is perhaps in developing countries, however, that they have most impact. In countries where governments do not have the resources to provide social support for all of their citizens international companies may be the only organisations able to maintain and improve quality of life. Some would say that the priority of international companies is to make profits and, therefore, provide income to their owners and shareholders. However, I will argue in this essa that their first duty is in fact to support the communities in the developing countries in which they are based, by providing good working conditions, a safe and clean local environment, an

Argument that profits should come before social responsibility -

• without first making profit, there is no money to help poor (Roberts, 2007)

• company's first duty is to its shareholders (Klein, 2000) • motives of some companies which have implemented social responsibility

programmes have been questioned: do they only do it as a public relations exercise? (Roberts, 2007; example of Conco in Botswana)

Arguments that social responsibility should come before profits - (i) ethical argument -

- basic human rights of all people should be respected; international companies should recognise this in their dealings with employees (Howarth, 2005) (i) economic arguments -

• provision of good working and living conditions for employees can increase

levels of productivity, and therefore profits to companies (Howarth, 2005; example from Bangladesh)

• focus on profits can lead to involvement in corruption scandals and environmental accidents; can severely damage reputation of a company (Smith,

2008; example from India)

Answer 1

In today's globalized world, large international companies wield immense influence and power, shaping economies, societies, and the environment. As these corporations expand their reach across borders, their actions inevitably impact a wide array of stakeholders, including employees, consumers, communities, and the planet. This interconnectedness has amplified calls for these entities to adopt more socially responsible practices, prioritizing ethical behavior, sustainability, and social equity. However, the extent to which these companies should make acting in a socially responsible manner a priority remains a topic of considerable debate. This essay explores the arguments for and against heightened corporate social responsibility (CSR) and examines the potential benefits and challenges associated with such an approach. Ultimately, it seeks to determine whether large international companies should align their business strategies more closely with social responsibility principles to address the pressing issues of our time.