CORPORATE-RESPONSIBILITY - RECONCILING ECONOMIC AND SOCIAL GOALS

Because of the federal government's recent cutbacks in social service funding, business is now being called upon to increase its attention to societal needs. To do this, however, business must first expand and redefine its obligation to society. Although the traditional view of business responsibility holds that economic and social objectives are incompatible, this paper questions this viewpoint. Instead, the article describes a newly emerging concept of business responsibility that many innovative firms are adopting. By documenting how these companies have successfully implemented this new concept, it is shown how businesses may satisfy some needs of society while maintaining their own economic well-being.