The corporate social responsibility and accountability in the modern corporation

摘要

Friedman (1970) held that the only social responsibility of business is to increase its profits. With the ever changing business environment as well as the rapidly growing public concerns with the impact corporations have on society, the one-sidedness of his assertion becomes obvious in interpreting the behavior of the corporation and the influence of their conduct. Nowadays, the role of a corporation also includes corporate social responsibility (CSR) and accountability, of which the aim is to bring positive and beneficial effects to the stakeholders.