An Argument for Corporate Social Responsibility

Abstract

"Society has always had a problem with corporations failing due to fraud. Major examples are Enron, Worldcom, Theranos and Bernie Madoff. Research has shown corporations which pledge to corporate social responsibility are less likely to commit fraud. The pledge helps install a conscience within the corporation. ISO 26000 is good guideline corporations should follow. Another major reason to promote corporate social responsibility is that corporations often lay the foundation for future international laws. These laws should be developed for societies benefit not corporations. If investors chose to invest in corporations pledged to corporate social responsibility, there would be less fraud and society would be better off."