So, to whom are organizations socially responsible? Many commentators, especially economists and financial analysts, continue to argue that organizations are responsible only to shareholders. Increasingly, however, top managers have come to believe that they and their companies must be socially responsible to their stakeholders. this view has gained adherents since the Great Depression, when General Electric first identified shareholders, employees, customers, and the general public as its stakeholders. In 1947, Johnson&Johnson listed customers, employees ,managers, and shareholders as its stakeholders; and in 1950, Sears Roebuck announced that its most important stakeholders were "customers, employees, community, and stockholders." Today, surveys show that as many as 80 percent of top-level managers believe that it is unethical to focus just on shareholders. Twenty-nine states have changed their laws to allow boards of directors to consider the needs of employees, creditors, suppliers, customers, and local communities, as well as those of shareholders. Although there is not complete agreement, a majority of opinion makers would argue that companies must be socially responsible to their stakeholders.