blog




  • Essay / Commercial and Social Responsibility - 1512

    The problem studied consisted of a question that Milton Friedman posed in one of his articles, which appeared in the New York Times Magazine in 1970. The question was: "What is what does this mean? do you mean that “companies” have responsibilities” (Friedman, 2007, p. 173)? Friedman (1970) explained how corporations cannot be assigned responsibility. Furthermore, he explained that groups or individuals should be the only ones who can take responsibility, not companies. He said associating responsibilities with the word business is too ambiguous. I will examine three discussion questions and three compare and contrast questions that Jennings (2009) posed in a case study related to Friedman's (1970) article "Corporate social responsibility is about increasing profits." The first discussion question posed was, “How does Dr. Friedman characterize discussions of “corporate social responsibilities”?” Why (Jennings, 2009, p. 79)? Friedman (1970) called discussions of social responsibilities pure and one hundred percent socialism. Friedman (1970) characterized these discussions in this way because he believed that a business manager should focus only on making profits and not on social aspects. He mentioned how people who behave and express themselves in this way reinforce and positively support the actions of individuals who weaken the fundamental elements of a free society. Friedman (1970) asked a question that was at the heart of his 1970 article “The Social Responsibility of Business is to Increase its Profits,” in which he explored the true contextual meaning of what responsibilities mean for business. Friedman describes how businesses can... middle of paper ... agents be the guardians of keeping society alive. Although some of Dr. Friedman's opinions seemed bold and harsh, I believe that ultimately he makes a strong case for developing a profit-driven business that does not treat its shareholders inappropriately. Works Cited Friedman, M., (2007). The social responsibility of business is to increase profits. In W. Zimmerli, M. Holzinger, and K. Richter (Eds.), Corporate Ethics and Corporate Governance (pp. 173-178). Retrieved from http://www.springerlink.com/content/978-3-540-70817-9/#section=263556&page=2&locus=0Jennings, M. (2009). Business Ethics: Case Studies and Selected Readings. Mason, OH: South-Western Cengage Learning. Stambor, Z. (1996). Employees: a company's best asset. Monitor Staff, 37(3), 28. Retrieved from http://www.apa.org/monitor/mar06/employees.aspx