Question: From the article (it's in Module 7) The Social Responsibility of Business is to Increase its Profits I Written by the economist Milton Friedman (a

From the article (it's in Module 7) The Social

From the article (it's in Module 7) The Social Responsibility of Business is to Increase its Profits" I Written by the economist Milton Friedman (a Nobel Prize winner) 1 ...there is one and only one social responsibility of business - to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud" Voice Thread Prompt: What do you think and why - do business have a social responsibility other than to increase profits? I Video, audio. or text comments are fine but be sure to justify your answer. You might also discuss how your own decision-making style/personal ethics influences what you think

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

PRINTED BY: smj@staceymjohnson.com. Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be...

Upstream In the last several decades, it has become clear that the purchasing manager is certainly in the best position to manage entities upstream from his or her company. That is, purchasing...

Our objective is to analyze corporate social responsibility and its impact on employees and organizations. Another definition of CSR reads "the managerial obligation to take action that protects and...

Milton Friedman, Nobel Prize winning economist, said, The social responsibility of business is to increase profits. Some considered Friedman to be the enemy of business ethics, but his position was...

Nobel Prize - winning economist Milton Friedman made the statement "the social responsibility of business is to increase profits." This statement supports The importance of corporate social...

Milton Friedman, Nobel Prize - winning economist, said, "The social responsibility of business is to increase profits," Yet his statement was ethical, in that it is unethical to spread capitalism. it...

The economist Milton Friedman stated in an article published in the New York Times on September 13 th , 1970, that the one and only social responsibility of business is to increase profits. On the...

Chapter 10 from Mastering Strategic Management was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested by the...

a.) Use the Change Management equation below to revisit the case study and explain the change management equation in terms of the case study provided. For example explain where the Pressure for...

A. The average cost per unit was $234 at a volume of 1,200 units and $205 at a volume of 1,400 units. The profit was $24,000 at the lower volume. Estimate the variable cost per unit. B. Sparkle Car...

Show that if n and k are integers with 1 ¤ k ¤ n, then

Which of the following is NOT true about preferred stock? Multiple Choice Preferred stocks are often cumulative in respect to dividends. The after - tax cost is higher than debt with the same yield....

Mr Cass has asked you to design for him a USD-based, strategic, multi-asset investment portfolio. You should build this strategy using the principles that lie behind Asset Allocation 1.0. To help...