A summary of a US News Article on Ethics and the Corporate World
(Big business Social Responsibility is Nothing New)
Despite the fact that terms such as corporate responsibility and representation of business interests have entered the field of management recently, managers of enterprises have been practicing these concepts for many years. A look into the history of business provides evidence of noble deeds and consequences that industry leaders funded and conducted in the period of the industrial revolution. A suitable example is that of William Cadbury, in the 20th century. He successfully influenced the Portuguese monarchy to put an end to de facto slavery. It is hard to capture the concept of social involvement and political activism of business organizations without considering knowledge from the past.
Josephson argued that America’s most successful businessmen realized their success by amassing massive fortunes through immoral and unethical ways. The most notable robber barons were Leland Stanford, Andrew Mellon, and Andrew Carnegie. All these names are prominent, having associations with prominent universities in the US. The press, politicians, and the public were the key players for the success of large businesses during the great recession between 2008 and 2011. There were calls for fairness and justice during this period, with people attacking those who had accumulated resources from unethical means at the expense of the unemployed population.
There are individuals and businesses that foster corporate cultures in their working environment. For example, Lorenzo Zambrano, the CEO of CEMEX, developed values of environmental responsibility and social progress in the organization. Presently, CEMEX stands out as one of the organizations that engages and gives back to the communities and environments where it conducts its business. The organization also invests in its employees, a factor that has made it one of the best employers. Apparently, such leaders were aware of the vitality of aligning political involvement and social participation with the commercial and marketing interests of their organizations. Corporate responsibility is, therefore, not a concept of the 21st century. However, other developments have come up in the field of corporate responsibility. This includes sustainability of businesses and environmental protection.