Do Corporations have a responsibility to society?

Question

Answer in yes or no. If yes then what is positive and negative. If no then what is positive and negative.

Answer 1

No, they have a responsibility to their shareholders.

Answer 2

Well, legally they have no responsibility towards Society. However, more and more we see businesses changing their behaviours under the pressure of Society. The concept of stakeholders (which includes more than shareholders + staff) seems to be driving a number of company decisions now. In my view, it does not reveal an acceptance from corporations of their responsibilities toward Society, but rather an acceptance that the impact of their behaviours with Society can have a positive or negative impact on their profits! I would not generalise though as some corporations DO feel a responsibility. However, I believe that most are cynical about it!

Answer 3

I don't think you are being specific enough in your question.
Yes corporations have a responsibility to society but so does every single person as an individual.
Large corporations DO give back to the community. In the most basic form by providing employment for the people, benefits, health insurance, etc. Many corporations (think Microsoft) give back to the community through scholarships and foundations; medical cooperations (such as Group Health, Virgina Mason, Childrens Hospital) do charity cases as well as research that benefit the community. Hell, even Philip Morris (tobacco) spends MILLIONS towards working against domestic violence.
So sure, we all have a responsibility to society, and cooperations (at least in the US) does exercise that responsibility.
The intentions? Well, money and image. A better image means more money earned and more money donated means more tax cuts. I think intentions doesn't really matter in this case, it is the action, the donation, and the difference these contributions make...

Answer 4

They have no obligation what so ever. It is the duty and responsibility for corporations to maximise profit at all costs - this is one of the main principles of a capitalist society. Any social responsibility is simply publicity rather than altruism and as such is not a responsibility for the company but a PR stunt.
This is why I will not work for any major corporations.

Answer 5

no, they don't. the positive of it is that they are only responsible to their shareholders, if you believe that the acquisition of money is a positive thing. The negative aspect of it is that corporations have public relations engines to present themselves in a positive light, but this is b o l l o c k s in reality. Money is the goal.............