Topic > Doing Good Business - 2498

Since the motto “Doing well by doing well” appeared, the number of companies that have adopted it has increased over time. In order to say whether this increase is substantial and significant we must first analyze the steps through which this motto has passed. The implications it will have on the market and the economy as a whole will also be decisive in deciding whether or not to adopt the motto. In the following essay we retrace the evolution of the meaning of the motto, of the concept of social responsibility, of the fans' arguments and their cons. The debate is divided into two camps. Proponents of the first idea argue that by doing good business, the economy as a whole benefits without the need to donate or contribute in distinct ways to the community. The second idea is that companies should behave in a way that creates an environment where everyone can use their power to help the community. The first time I read the essay topic, it reminded me of a movie I saw when I was about 13 years old. “When someone does you a great favor, don't give it back, pay it forward” is what little Trevor says in the movie “Pay it forward”. Being 13 years old, I took it as a life lesson and it gave me further incentive to help those who needed me most. Most of the time I had the satisfaction of seeing a smile on someone else's face, and half the time I was disappointed to realize that I was simply being used by someone else. But I decided not to worry about it; I wanted to do something that would change that conservative community I lived in. This is what most people would call "social responsibility" and what Milton Friedman would define as an individual initiative to contribute to society. As defined by Wikipedia. ..... half of the paper ......ston Publications, August 27, 2007 (also available at http://www.bos.frb.org/economic/wp/index.htm) Friedman, M. “ A Friedman Doctrine – The Social Responsibility of Business Is to Increase Its Profits,” The New York Times Publications, September 13, 1970 Gates, B. “On Creative Capitalism,” World Economic Forum Realises, http://www.youtube.com/ view ?v=Ql-Mtlx31e8NY Times. January 9, 2009 http://economix.blogs.nytimes.com/2009/01/06/can-business-do-well-and-do-good/Oxford Publications. “Oxford Dictionary of English (2nd revised edition)”, 1998, ISBN 0198610572 Wikipedia, http://en.wikipedia.org/wiki/Creative_capitalism Wikipedia, http://en.wikipedia.org/wiki/Social_responsibility Hamm, S. “Coca Cola : Doing Well by Doing Good,” BusinessWeek Publications, http://www.businessweek.com/globalbiz/blog/globespotting/archives/2009/05/coke_on_doing_w.html