Question by DA: I have heard that large companies are necessary to invest “X” quantity of dollars on community service, is it accurate?
I heard that if you make a certain amount of cash as a organization, you were essential by law to spend a percentage of that on some type of community service, a “give back to the community” type of scenario. Is it accurate? What is the percentage?
Answer by JFAD
Companies are accustomed to becoming criticized for neglecting their responsibilities to society. Complaints that private enterprise puts profit prior to men and women have long offered dependable applause lines for politicians and assorted activists, and material for the briefs of crusading public-interest attorneys. But in the past handful of years, the concept of corporate social esponsibility—increasingly element of the curriculum in America’s schools of company and management—has established itself as a political and social force to be reckoned with. This can be noticed in recent proposals in Congress and elsewhere to supply tax breaks or regulate differently firms that shoulder their “social responsibilities.” Social responsibility is not expected only of large corporations. If commercial activities are perceived to be unethical or destructive, it doesn’t matter what kind of organization enterprise engages in them. However, publicly traded corporations are the target of most discussion about social responsibility because of how they are developed and managed. Corporate social responsibility advocates note that given that corporations are “fictitious persons,” created by law and sustained by government grants of limited liability for person shareholders they have obligations to society that surpass those of sole proprietorships or partnerships. The corporation which acts in a responsible manner could merely be paying society back for the social fees of undertaking enterprise costs for which the firms rarely get an invoice.
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