Please read 3 articles and answer the following 2 questions related on those readings. 500 words for question 1, and 500 words for question 2. No sources and references needed. Please read first. Thank you.
1 Obligations beyond What the Law Requires (500 words)
Fieser (read 1) argues that businesses do not and should not be held to have obligations beyond what the law requires. He argues that the moral framework of businesses is and ought to be embedded in law and regulation. Do you find his arguments persuasive? Why or why not?
2 Can socially responsible firms compete? (500 words)
Discuss the five ways that, according to Robert Frank (read 2), socially responsible firms might compete successfully. Are Franks arguments exclusively prudential (based on self-interested calculations)? If corporate social responsibility (CSR) is limited to doing what is right as long as it serves the corporation’s self-interest, how does CSR fare according to Hooker’s (read 3) three tests?
The Obligations that are beyond the requirements of the Law
A business, as per the economic outlook, refers to the involvements of providing goods and sservices, involving the financial, commercial and industrial functions. The businesses activities are subject to the human actions courtesy of the ethics and morals. Business ethics is of the ideas of what is wrong or right concerning the company activities and thus helping to govern the standards of conduct of people with involvements in the enterprise processes. The paper discusses the basis of Fieser’s agreement and how moral framework of business is not and ought not to be while focusing on the embedded law and regulation. Then further, the five ways that entail how socially responsible firms might compete successfully as according to Robert Frank and how corporate social responsibility fares according to Hooker.
Moral framework of business should not be set in law and regulation because, in business operation, there are various people from different backgrounds, with several thoughts and ideas that have attachments to their cultures. Therefore, for businesses to run smoothly be it either private or public, there should consist own principles for governance that should not impact the laws and regulations. Although the concept of the moral framework of business is very rational, scholars including Hartley, have come with different approaches and theories in this area of study that accompany the numerous factors that exemplify the reason as to why the concept of morality ought not to apply to in law and regulation.
In the economy, the capitalist system has two principles that are profit and law ideologies. The two principles are characterized as right and necessary as per the theoretical concept of investors in that they make business more efficient. The law principle merely entails the mandatory obedience of legislation while the profit principle advocates for the creation of…click here for more details..