Essay: An Example is Toyota Corporation

Through this principle of enlightened self-interest, many corporations have taken the initiative of being socially responsible corporate entities. An example of a socially responsible corporate entity is Toyota Corporation. Being socially responsible entails giving back to the society. Through giving back to the society, the society benefits from the corporation while be corporation benefits from the society by reaping profits. The need to give back to the society is essential since “No society can surely be flourishing and happy, on which the far greater part of the members are poor and miserable” (Smith, 1776, p. 36). Thus, the firm’s corporate social responsibility demands all the stakeholders to be concerned about each other’s welfare.

Toyota, like other corporates, employ the corporate social responsibility mechanisms to ensure that they make a profit while ensuring they abide to the ethical laws. Through the ethical values, Toyota guarantees public interest. In so doing, Toyota management makes decisions that take into consideration the interest of all the stakeholders.

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