-
Essay / Doing Good Business - 2498
Since the emergence of the motto “Doing Well By Doing Good”, the number of businesses that have adopted it has increased over time. To know if this increase is substantial and significant, we must first analyze the stages through which this currency has gone. The implications this will have on the market and the economy as a whole will also determine whether or not the currency is adopted. In the essay below, we will review the evolving meaning of the motto, the concept of social responsibility, the proponents' arguments, and their drawbacks. The debate is divided into two camps. Proponents of the first idea argue that by doing good business, the economy as a whole benefits without the need for a separate donation or contribution to the community. The second idea is that businesses should behave in a way that creates an environment in which everyone should use their power to help the community. The very first time I read the essay topic, it reminded me of a movie I watched when I was around 13 years old. “When someone does you a big favor, don’t pay it back, pay it forward,” that’s what little Trevor says in the movie “Pay It Forward.” At the age of 13, I took it as a life lesson and it gave me extra incentives to help those who needed me the most. Most of the time I had the satisfaction of seeing a smile on someone else's face, and half the time I was disappointed to realize that I was just being used by someone else. 'other. But I decided not to care; I wanted to do something that would change the conservative community I lived in. This is what most people would call “social responsibility” and what Milton Friedman would define as an individual initiative to contribute to society. As defined by Wikipedia. ..... middle of article......ston Publications, August 27, 2007 (also found at http://www.bos.frb.org/nomic/wp/index.htm)Friedman, M. “A Friedman Doctrine – The Social Responsibility of Business is to Increase Its Profits”, The New York Times Publications, September 13, 1970Gates, B. “On Creative Capitalism”, World Economic Forum Realises, http://www.youtube.com/ watch?v=Ql-Mtlx31e8NY Times. January 9, 2009 http://economix.blogs.nytimes.com/2009/01/06/can-business-do-well-and-do-good/Oxford Publications. “Oxford Dictionary of English (2nd revised edition)”, 1998, ISBN 0198610572Wikipedia, http://en.wikipedia.org/wiki/Creative_capitalismWikipedia, http://en.wikipedia.org/wiki/Social_responsibilityHamm, S. “Coke: Doing Well by Doing Good,” BusinessWeek Publications, http://www.businessweek.com/globalbiz/blog/globespotting/archives/2009/05/coke_on_doing_w.html