Sunday, June 7, 2015

Contrast the Entine and Jennings with the views of Friedman and Freeman


     When dealing with corporate social responsibility, it is without much saying that Jon Entine and Marianne M. Jennings share the same outlook on the matter.  Jennings and Entine believed that social responsibility encompassed itself around what is ethical. They also both agreed that the environment should be utilized as a branding agent to influence consumers buying decisions (Jennings & Entine, 1998).  Entine and Jennings find that every company has a social responsibility to the business, but they also believe that companies should have a soul (Jennings, 2012).  For example making sure that cans of tuna have listed that its products are netted "Dolphin Free" (Jennings, 2012, p. 102).  With great understanding in Entine and Jennings viewpoints, consumers would be more concerned about how and with what a product is made, versus saving a dollar on manufacturing.  Entine and Jennings did not see if beneficial to consumers to take unethical routes in manufacturing just to make a profit.  They believed that to understand your real soul the company should be able to answer these eight questions.  These questions will help determine their most genuine intentions.

     Friedman and Freeman had an entirely different take on the matter.  Milton Friedman believed that the soul purpose of social responsibility was to help increase the profits of the company (Jennings, 2012).  Mr. Friedman did not believe that anyone else in the business should be responsible for making the decisions other than the stakeholders.  Mr. Freeman also shared in this same theory; this theory is known as the Stakeholder Theory.  Stakeholder theory allows a careful outlook into a more sophisticated view of how stakeholders are valued and providing new ways to analyze it (Harrison & Wicks, 2014).  These ethical scholars want to address what they feel is most important in organizational management, which they believe are the stakeholders.

     So you have two groups of individuals with entirely different views on corporate social responsibility.  Entine and Jennings think that to understand corporate social responsibility, the company has to look deep into their real soul.  However, Friedman and Freeman felt as if the responsibility was only the responsibility of the managers and stakeholders. Friedman and Freeman can be viewed as caring about the overall profit while Entine and Jennings cared more about being ethically sound.

No comments:

Post a Comment