Relevance of Philosophizing Corporate Social Responsibility

Maximization of profit is one of the major responsibilities of the managers of the business world. The responsibility of profit making may prompt the managers to be attentive only to the process of making money which has led to antagonism among the managers of different firms and self-interest. The profit making agenda of the business of the world have prompted the managers to pursue illicit and unethical practices that corrupt the society and harm the economy of the country. The human society always condemns illegal profit making practices of the business world and expresses its anguish over it. However, the practices like corporate social responsibility (CSR) among the businessmen have helped in the business world to have a positive appeal in the society towards the business world as CSR considers the common good above the self-interest. Mere consideration of the common good as the sole aim of the business firm can be endangering to the very existence of the business. Therefore, a deft manager of the business firm requires skills in handling common good and profit making hand in hand. We argue that the application of philosophical wisdom into the managerial skills rightly places the profit-making and common good agenda of the business world. Informed by the philosophical wisdom, managers can manifest their dexterity in profit-making and common good activities.