Sample Solution

Corporations have a social responsibility beyond just obeying the law. This can be seen in how corporations are expected to serve as good corporate citizens, giving back to their communities and investing in corporate social responsibility (CSR) initiatives such as environmental protection, employee welfare and philanthropic activities. Corporations should also strive to make ethical decisions which promote positive outcomes for both society and the environment. This could include making an effort to reduce waste, use energy more efficiently or develop sustainable business practices.

Furthermore, companies should seek out opportunities to invest in areas of need within their local community by creating jobs for disadvantaged individuals or providing resources for education programs such as scholarships or mentoring services (Mayo & Bock 2019). By doing so they not only demonstrate their commitment towards serving the public interest but it demonstrates that they recognize the value of creating meaningful relationships with their stakeholders which will contribute positively towards maintaining a strong brand identity (Kotler & Lee 2017).

Additionally, corporations should actively work towards eliminating discrimination in all forms; this includes fair hiring practices regardless of gender, race, ethnicity etc., promoting equal pay among employees, instituting anti-harassment policies and embracing diversity throughout all levels of management. These actions not only create an equitable workplace but shows that corporations care about upholding basic human rights while also demonstrating a genuine commitment towards making positive changes within society as well.

In conclusion, if any corporation wishes to be successful then it is essential that they prioritize adhering not only the laws set forth by governments but also recognize their moral obligation towards ensuring greater equality and fairness on both global and local scales since this ultimately benefits everyone involved while building stronger trust amongst customers who view them favorably due to these efforts (Kotler & Lee 2017).