what is the corporation's responsibility?

Question

does it have any responsibility to society to produce only goods of high quality that will last through the years of continous use on the part of a purchases?

Answer 1

Not at all. There is a place in the market for things at all parts of the price and quality spectrum. Not everyone wants everything they buy to be expensive and last for years. Quality can be defined any number of ways, and lasting "through the years" is just one. Fun, trendy clothing, for example. Someone may want a $200 leather purse that lasts for 10 years, and someone else might want an inexpensive, fun purse that they will throw away after a couple months. The competitive market solves the problem, offering people a choice, and letting them vote with their $ for what they want.

Answer 2

Corporations answer mainly to their own board of directors, and the stock holders.
What they do is up to them and their risk assessment folks.
If you want to encourage change in one or more, you need to contact them with your concerns.

Answer 3

The corporation's responsibility is to serve whatever is deemed to be in the public's interest