Responsible Business

I came across a lecture, that provoked my thought on responsible business.

So when can we say that a company is carrying out responsible business. Well there are two perspectives to look at it. One is that the company's activities are ethical and contribute to social well being. But we all know that all companies cannot plant trees and take care of the environment. The second is that the company has some corporate social responsibility activities, build a school, plant trees, dig a bore hole and the list is endless. But we also know that these projects may not have the long term impact required as compared to the main business of the company.

I think that the only way to be a responsible business is to balance the various competing interests. Carry out CSR but balance it with business activities that promote the well being of people, whether directly or indirectly.

Here is the link to the lecture by Lynn A. Stout on Corporate Governance- What do shareholders really value?
http://www.youtube.com/watch?v=s5Eoy988728&feature=relmfu