Business and its connection to society: Challenges and ethical dilemmas facing modern corporations, Corporate social responsibility

Academic Paper from the year 2019 in the subject Business economics - Business Ethics, Corporate Ethics, grade: A, Kenyatta University, language: English, abstract: The view that businesses exists for the good of the society has come under massive scrutiny in recent years. Argument that as long as businesses act legally and ethically they should not concern themselves with the larger social goals is now being challenged world over (Fernando, 2010). As a result, businesses have been forced to be more conscious of their environment and sustainability of their products and processes. Businesses must now look deep into the possible adverse impacts of their operations in the society and consumers. According to John Browne, to divert anger and suspicions that they have created, businesses must reconnect with the society radically (Grant and Miller, 2018). Looking at the case of many multinational corporations such as Nike, Inc, it is clear that there are numerous ethical and social responsibility concerns that businesses grapple that make them bad members of the society. In this regard, the author examines ethical and social responsibility concerns at Nike and other corporations with an aim of determining the best ways through which a business can connect with the society.