Do a firm’s ethical responsibilities extend beyond maximization of profits? NO D
ID: 396774 • Letter: D
Question
Do a firm’s ethical responsibilities extend beyond maximization of profits?
NO
Do a firm’s ethical responsibilities extend beyond maximization of profits?
YES
Democracies have a process for deciding which of the countless potential good deeds a community will pledge to do. Tax money is never bountiful enough to satisfy our human desire to assist one another. We must pick and choose which needs to meet and which to postpone for another day. But the point is that we make these decisions AS A COMMUNITY.
When a corporation takes it upon itself to use money it earned by charging consumers a price for a good or service, that firm is seizing the role of government BECAUSE IT CAN. No community has ceded the right to make social decisions to the corporation. Instead, the firm uses its powers to spend the community’s money AS THE CORPORATION SEES FIT. This behavior is an affront to democracy and basically says to the community, “we know best what the community’s priorities should be.
Review the Point/Counterpoint. Do you agree with the Yes or No position? Why? Why don't you agree with the other one?
Do a firm’s ethical responsibilities extend beyond maximization of profits?
NO
Do a firm’s ethical responsibilities extend beyond maximization of profits?
YES
The basic purpose of a business firm is to provide a service or product to consumers that makes profits for its owners. Capitalist theory depends on the incentive of the profit motive as a guarantee that firms will meet the desires of consumers. Please those consumers, and the market is an outstanding institution. Displease them, and a company goes out of business. This sanitizing process relies on the assumption that firms will seek to maximize profits. When firms decide for themselves that they will have goals that conflict with profit maximization, they undercut the meaning and the benefits of capitalism Communities have dozens of needs that, when met, assist citizens in flourishing. What sense does it make to take an important sector like corporate America and deny them the opportunity to assist in meeting these needs. When a computer firm decides to enhance the educational mission of the town where it produces its products by giving computers to the local schools, it does so in an environment where schools are often pinched for funds. Those students need computers, and we would take them from anyone who is kind enough to provide them.Democracies have a process for deciding which of the countless potential good deeds a community will pledge to do. Tax money is never bountiful enough to satisfy our human desire to assist one another. We must pick and choose which needs to meet and which to postpone for another day. But the point is that we make these decisions AS A COMMUNITY.
When a corporation takes it upon itself to use money it earned by charging consumers a price for a good or service, that firm is seizing the role of government BECAUSE IT CAN. No community has ceded the right to make social decisions to the corporation. Instead, the firm uses its powers to spend the community’s money AS THE CORPORATION SEES FIT. This behavior is an affront to democracy and basically says to the community, “we know best what the community’s priorities should be.
Business firms are major citizens. They require utilities, roads, airports, police, sewage systems, power plants, and fire protection. These services impose heavy costs on the community. Firms, like other citizens, have a responsibility to assist in paying for these public services. Their tax payments certainly serve this purpose. But from the community’s perspective, shouldn’t citizens of all kinds be encouraged to give back to their communities as often and as generously as they are willing to provide? If firms have so many excess profits that they can become a “good deeds” agency as well as a business firm, they should honor their true role and lower prices so more consumers can buy their products. By being what they claim is socially responsible, they are implicitly taxing their consumers who pay for a good or service AND then an extra fee for the firm to do what it designates as our top social priorities. Applauding the social responsibility of firms when they give back to their communities strengthens the ties of the firm to that community. A sense of mutual respect blooms between the corporation and the community where so many of its managers and workers have agreed to live.Explanation / Answer
I AGREE WITH THE YES POSITION THAT ORGANIZATIONS DO OWE THE SOCIETY SOME RESPONSIBILITY OTHER THAN EARNING PROFIT
HERES WHY
I DONT AGREE WITH THE OTHER POSITION BECAUSE
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