Woolworth's Corporate Responsibility

In the 21st century many things have been changed to meet our modern standard of living,which has resulted to the advancements on the regulations concerning companies and social responsibilities. Companies are increasingly expected to take greater responsibility for making sustainable development in the society(Epstein J. Marc,2003). The new regulation or legislation is inline with the old argument that was made by Christopher Stone in 1975 and other philosophers, who rejected Friedman`s views. According Milton Friedman`s argument corporation have no social responsibility other than to make profit for their shareholders and obeying the law( D.Rossouw,2012).

Modern corporation now days have huge responsibility, according to the King code and companies act which also agrees to Stone`s and freeman argument that corporation have responsibility to contribute to the economic balance, environmental and social performance (Epstein, J. Marc,2003). King code report ensure that corporations adopt corporate governance and triple bottom line - a process by which companies have manage their financial, social and environmental risks, obligations and opportunities (J.Siebrits, M .Woermann,2003). Corporate substainability is based on integrate sustainability principles into their business strategies and to aid resource …show more content…
The Woolworth`s success was based on it sustainability strategy which involves monitoring and evaluation of sustainability business practices and ensuring that products are safe, healthy,without harm to the environment(A.Maria & O.Dos Santos,2013).Woolworths programme indicators between 2008 and 2011 were evaluated annually and generally exceeded established targets.It revenue in 2011 was US$ 3 billion/euros 2.4 billion. Number of permanent employees is approximately 220,000(Sustainability Report, GBJ, 2011, p.