Question

Please explain in one page Robert Frank believes that a socially responsible business can not only survive, but thrive, in a competitive environment.

Answer 1

1.].Robert Frank discusses five ways in accordance to which socially responsible companies mightcompete successfully.  The first three emphasize the ability to solve problems of commitmentsthat are present within and between the companies. The last two are mainly about the fact thatpeope tend to value socially responsible action and are willing to pay for it, even if they do nothave a material benefit from it.

The mentioned five are:

(a) solving commitment problems thatarise among owners, managers and employees;

(b) solving the commitment problems that arisewith customers;

(c) solving the commitment problems that arise with other companies;

(d) thewillingness of consumers to support socially responsible companies;

(e) ability to recruit moreresponsible employees. It seems to me that Franks’ arguments are rather based on self-interestcalculations, as behind all their deeds stands indeed profits gain, and what is it then if not self-interest?