Quote:
Originally Posted by ethics01
Thank you for your comments so far. Remaining on the subject of CSR, then, how important do you think CSR is in the food industry in particular, and to what extent do you think it is imperative that companies in the food industry are socially responsible?
Linden Reekie
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This may not make me a lot of friends here, but I believe the job of businesses is to make money by providing goods and services we the comsumers demand (period).
Some may argue the economic inefficiencies to society as a whole due to the external costs incurred by those outside of the market decision demand that businesses act in a responsible manner to society as a whole. It is the job of government to address these market failures through regulations and enforcement. It is the job of individual consumers to decide how important the men, women, and children along the Yangtze River, and others in similar situations, are to them. Is saving a few cents worth the loss of their water supply? If not, these consumers will demonstrate their demand by buying more expensive products from companies with environmentally friendly practices or they will petition the government to enact legislation to alter the practices.
In short, it's the job of business to give us what we want at the price we want. If a business' practices are destroying the environment, then there are plenty of people out there that do not know or do not care. Likewise, if a business' practices are environmentally friendly, it is because the consumers demanded such through their purchase decisions or consumers and/or those outside of the market decision petitioned government.
I know the above is a simplification of the issues, but it is a rule of thumb.