Question

How do you respond to the assertion that “the most important organization in the world is the company: It is the basis of the prosperity of the West and the best hope for the future of the rest of world”? If not the company, what else?

The book is Strategic Corporate Social Responsibility CSR chapter#7

Answer 1

Answer: I fully agree with the assertion that the companies are the most important organizations in the World as they create wealth that brings prosperity and economic development. The development in the West is a result of the large companies that not only produced products to satisfy the needs of the people but also generated employment and wealth for the society. The companies also pay taxes that are an important source of income to the government. Thus the developmental activities that are carried out by the governments are also a result of the wealth generated by companies. Hence companies have not only enabled growth in the West but the other parts of the Globe also have a best hope for developing from the expansion of the companies. But at the same time it is required that the companies act in a socially responsible manner. No other entity rather than the company can enable the development of the World.