Some have leveled criticisms against corporate responsibility, for instance claiming that the aims of corporate social responsibility are in direct conflict with the aims of social responsibility. This criticism also asserts that a corporation's responsibilities, therefore, should only be directed towards the interests of its stakeholders and investors.Know More
These critics believe that if companies aim to maximize their profits, then they can't justify spending their money on philanthropic purposes. Some critics also claim that the money corporations do spend, whether it be on bettering their communities, funding humanitarian causes as well as other socially responsible endeavors, have a negligible effect in bettering these social causes.
Other critics assert that companies which practice corporate social responsibility are oftentimes much more concerned with promoting their brand or public image than actually providing tangible assistance to the causes. For some businesses that do genuinely help out with social causes, they still have to worry about winning over their customers. Companies that are heavily involved with philanthropic causes may be perceived as boasting of their social commitments. These businesses could suffer reduced contributions from investors as well, because they would be turning down higher profits in exchange for social investments that wouldn't provide any revenue.Learn more about Corporations
Corporate goals are statements that outline an overall company vision that includes an operating philosophy and specific objectives. Corporations set goals to provide direction to management and employees. Clear goals allow companies to communicate expectations and provide a blueprint for decision making.Full Answer >
Corporate planning is a strategic tool used by companies to set long-term plans to meet certain objectives, such as business growth and sales volumes. Corporate plans are similar to strategic plans, but place greater emphasis on using internal resources and streamlining operations to achieve certain end goals.Full Answer >
A corporate body is a group of people or an organization that operates under a single name and is often treated as its own entity. There are many different types of corporate bodies. Despite their names, not all corporate bodies are directly related to the business world. Some of these bodies are involved primarily in the government at some level or in representing members of their religion.Full Answer >
Corporate governance is important because it is a system that instills policies and rules for maintaining the cohesiveness of an organization. Corporate governance is meant to hold a company accountable while helping an organization steer clear of financial, legal and ethical pitfalls.Full Answer >