How A Business Will Improve The Welfare Of Society

Social responsibility consists of how a business will improve the welfare of society in general. In other words, People have an expectation of a business to do what it takes to make society better by virtue. IBM is a Social Business. According to IBM a Social Business embraces networks of people to create values in business. At IBM, they promote Social responsibility with their suppliers. In order for IBM to provide innovative products as well as service globally, they has to maintain a strong supply chain. Perhaps that is the reason why they created a comprehensive Supply Chain social Responsibility. IBM face some challenges that include extending supply chain social responsibility across the world supply chain and improving suppliers’ ability to meet the requirements in sourcing strategies. But the opportunities are far powerful than the challenges. The opportunities include being able to assist the suppliers in emerging markets so they can develop in the world-class providers, raising management system capabilities of suppliers and sharing best practices, and contributing to the sustainable economic development of emerging markets (IBM, n.d.). However, they have three (3) underlying tenants which include (IBM, 2011): †¢ Engaged- A social business attach people to expertise. It enables people such as partners, customers, or even employees to form networks to gather sources of foster creativity, establish greater reach and exposure to new opportunities, andShow MoreRelatedCorporate Social Responsibilities1373 Words   |  6 PagesCORPORATE SOCIAL RESPONSIBILITY The term social responsibility means different things to different people. Generally, corporate social responsibility is the obligation to take action that protects and improves the welfare of society as whole as well as organizational interests. 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