What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way?

Need a paper written? Our academic experts can create an original essay on any subject for ~~$13.00~~ $11/page Learn More

Today, governments play various roles in the social responsibility of businesses in different countries, some being highly regulative and others letting most of the decision-making being made by companies themselves. This suggests that their aims depend on “the needs and structure of predominant sectors in the economy, as well as the extent of international businesses overall.” As for me, government policies are essential in promoting corporate social responsibility and guaranteeing compliance with it, but companies should have some room for decisions as well.

First of all, since CSR is mostly voluntary in its nature, governments have to raise awareness of social challenges to draw attention to the development of solutions. However, the government should not allow companies to solely decide whether to be socially responsible or not as, although there are many sensible actors in the business field, there are always some unfair players. While the former will conform with the social responsibility norms even without coercion, the latter will try to benefit from not spending money and time on upholding responsibilities to their stakeholders.

In other words, while, in theory, social responsibility has to be absolutely voluntary, in practice, there will be companies that will definitely violate it. Although different countries need different approaches, the role of government shall not be underestimated as it is the only absolute guarantor of successful compliance with corporate social responsibility.

Rate the answer:

Further research on topic

Answer by Academic.tip's expert

An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2022) 'What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way'. 8 November.

Reference

Academic.Tips. (2022, November 8). What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way? https://academic.tips/question/what-role-should-government-play-in-social-responsibility-do-you-think-the-government-should-create-more-regulations-to-encourage-companies-to-uphold-their-responsibilities-to-their-stakeholders-or/

References

Academic.Tips. 2022. "What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way?" November 8, 2022. https://academic.tips/question/what-role-should-government-play-in-social-responsibility-do-you-think-the-government-should-create-more-regulations-to-encourage-companies-to-uphold-their-responsibilities-to-their-stakeholders-or/.

1. Academic.Tips. "What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way?" November 8, 2022. https://academic.tips/question/what-role-should-government-play-in-social-responsibility-do-you-think-the-government-should-create-more-regulations-to-encourage-companies-to-uphold-their-responsibilities-to-their-stakeholders-or/.

Bibliography

Academic.Tips. "What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way?" November 8, 2022. https://academic.tips/question/what-role-should-government-play-in-social-responsibility-do-you-think-the-government-should-create-more-regulations-to-encourage-companies-to-uphold-their-responsibilities-to-their-stakeholders-or/.

Work Cited

"What role should government play in social responsibility? Do you think the government should create more regulations to encourage companies to uphold their responsibilities to their stakeholders? Or government shouldn’t intervene and allow companies to choose if they want to be socially responsible or not? Why do you think this way?" Academic.Tips, 8 Nov. 2022, academic.tips/question/what-role-should-government-play-in-social-responsibility-do-you-think-the-government-should-create-more-regulations-to-encourage-companies-to-uphold-their-responsibilities-to-their-stakeholders-or/.

Copy