­­Weekly Writing Assignment 3

 

Milton Friedman
signifies that social responsibility of a business is the only way of
increasing financial profits. Friedman shows an effective use of arguments to
prove this statement throughout his article. Moreover he gives importance to
corporate executives and suggests they have the most responsibility regarding employers
to make as much money as possible. Likewise he claims that stockholders do not
care about any social responsibility and ultimately only care about the profits
they can make. Furthermore Friedman explains that as a business or corporation
is gaining financial profits, taxes and other expenses are effective in
generating concern to the society. Overall the fundamental concept that
Friedman supports is that there is only one responsibility a business has, and
that is to use its resources to produce maximum profits while staying in the
rules of the game.

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IPCC Assessment Report
summary videos illustrate that business fail to manipulate their resources to
enlarge their social responsibility. This is shown using evidence of climate
change and how multibillion-dollar corporations have not changed their
recourses in order to cut down on their ecological footprints to fulfill their
social responsibly. Subsequently these big businesses have yet to allocate
their time to complete their social responsibilities. On a whole the videos
effectively use climate change and provide fundamental facts that suggest that
social responsibility is using resources and allocating time in reducing the
ecological footprints and so that business can accomplish their social responsibilities.

 

From my perspective I
disagree with Freidman claim about social responsibility. Maximizing profit is
key in business but social responsibility includes many more fundamental
aspects such as reducing the ecological footprints. For example in the 19th
century when business were booming if we look at any big company like apple,
Samsung or even ford, as the circumstances are changing the social
responsibility is not only to maximize profits. In conclusion Freidman and the
IPCC Assessment Report use significant fact to prove distinct topics.

Milton Frdman argued that the only      social responsibility of business was to
increase

profits. Friedman uses multiple examples
throughout the article to support this claim. He

extensively talks about corporate executives and
how they almost always have the responsibility

to their employers to make as much money as
possible while conforming to the basic rules of

society. 
Friedman also discusses how stockholders only focus was there money. He
explains that

stockholders would try to get other
stockholders, customers and/or employees to contribute

against their will to “social causes,” in order
to maximize profits. Friedman explains that as a

corporation succeeds, they are again imposing
taxes and spending the proceeds. “Social

responsibilities,” are a good and justifiable
way for corporations to generate goodwill while

doing everything in their own self-interest.
Friedman concludes the article by bringing a quote

from his book, “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.”

Homer-Dixon gives his own approach as to what
social responsibility in business is all

about. He explains that many organizations fail
because they manipulate their resources. Homer-

Dixon tells multiple stories as evidence that
small events that happen in the world could have a

huge impact on the entire environment/society.
Homer-Dixon says that the society must be

prepared for the impact these events can have
and overall must be prepared for change. Homer-

Dixon specifically says that organizations must
be ready and able to adapt to these tectonic

stresses that arise. He says that top management
is responsible for dealing with this as these

tectonic stresses can have a major impact on an
organization. When it comes to profit

maximizing, Homer-Dixon agrees with Friedman and
says that, “his approach is quite irrelevant

for private enterprises who base their missions
solely on profits.” He concludes that he believes

that society will adapt and make changes for the
good of the environment and society as a whole.

I personally disagree with Freidman’s argument
that the sole social responsibility of

business was to increase profits. I believe that
maximizing profits is a very important thing in

business however the social responsibility of a
business is a lot more than that. If you look at the

most successful corporations nowadays you will
almost always find that increasing profits is

secondary to other goals. I believe social
responsibility goes beyond increasing profits, it’s about

caring for the environment and society around
you and being able to adapt to changes so your

business can continue to serve people’s wants
and needs

Milton Friedman argued that the only      social responsibility of business was to
increase

profits. Friedman uses multiple examples throughout
the article to support this claim. He

extensively talks about corporate executives and
how they almost always have the responsibility

to their employers to make as much money as
possible while conforming to the basic rules of

society. 
Friedman also discusses how stockholders only focus was there money. He
explains that

stockholders would try to get other
stockholders, customers and/or employees to contribute

against their will to “social causes,” in order
to maximize profits. Friedman explains that as a

corporation succeeds, they are again imposing
taxes and spending the proceeds. “Social

responsibilities,” are a good and justifiable
way for corporations to generate goodwill while

doing everything in their own self-interest.
Friedman concludes the article by bringing a quote

from his book, “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.”

Homer-Dixon gives his own approach as to what
social responsibility in business is all

about. He explains that many organizations fail
because they manipulate their resources. Homer-

Dixon tells multiple stories as evidence that
small events that happen in the world could have a

huge impact on the entire environment/society.
Homer-Dixon says that the society must be

prepared for the impact these events can have
and overall must be prepared for change. Homer-

Dixon specifically says that organizations must
be ready and able to adapt to these tectonic

stresses that arise. He says that top management
is responsible for dealing with this as these

tectonic stresses can have a major impact on an
organization. When it comes to profit

maximizing, Homer-Dixon agrees with Friedman and
says that, “his approach is quite irrelevant

for private enterprises who base their missions
solely on profits.” He concludes that he believes

that society will adapt and make changes for the
good of the environment and society as a whole.

I personally disagree with Freidman’s argument
that the sole social responsibility of

business was to increase profits. I believe that
maximizing profits is a very important thing in

business however the social responsibility of a
business is a lot more than that. If you look at the

most successful corporations nowadays you will
almost always find that increasing profits is

secondary to other goals. I believe social
responsibility goes beyond increasing profits, it’s about

caring for the environment and society around
you and being able to adapt to changes so your

business can continue to serve people’s wants
and needs

Milton Friedman argued that the only      social responsibility of business was to
increase

profits. Friedman uses multiple examples
throughout the article to support this claim. He

extensively talks about corporate executives and
how they almost always have the responsibility

to their employers to make as much money as
possible while conforming to the basic rules of

society. 
Friedman also discusses how stockholders only focus was there money. He
explains that

stockholders would try to get other
stockholders, customers and/or employees to contribute

against their will to “social causes,” in order
to maximize profits. Friedman explains that as a

corporation succeeds, they are again imposing
taxes and spending the proceeds. “Social

responsibilities,” are a good and justifiable
way for corporations to generate goodwill while

doing everything in their own self-interest.
Friedman concludes the article by bringing a quote

from his book, “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.”

Homer-Dixon gives his own approach as to what
social responsibility in business is all

about. He explains that many organizations fail
because they manipulate their resources. Homer-

Dixon tells multiple stories as evidence that
small events that happen in the world could have a

huge impact on the entire environment/society.
Homer-Dixon says that the society must be

prepared for the impact these events can have
and overall must be prepared for change. Homer-

Dixon specifically says that organizations must
be ready and able to adapt to these tectonic

stresses that arise. He says that top management
is responsible for dealing with this as these

tectonic stresses can have a major impact on an
organization. When it comes to profit

maximizing, Homer-Dixon agrees with Friedman and
says that, “his approach is quite irrelevant

for private enterprises who base their missions
solely on profits.” He concludes that he believes

that society will adapt and make changes for the
good of the environment and society as a whole.

I personally disagree with Freidman’s argument
that the sole social responsibility of

business was to increase profits. I believe that
maximizing profits is a very important thing in

business however the social responsibility of a
business is a lot more than that. If you look at the

most successful corporations nowadays you will
almost always find that increasing profits is

secondary to other goals. I believe social
responsibility goes beyond increasing profits, it’s about

caring for the environment and society around
you and being able to adapt to changes so your

business can continue to serve people’s wants
and needs

Milton Friedman argued that the only      social responsibility of business was to
increase

profits. Friedman uses multiple examples
throughout the article to support this claim. He

extensively talks about corporate executives and
how they almost always have the responsibility

to their employers to make as much money as
possible while conforming to the basic rules of

society. 
Friedman also discusses how stockholders only focus was there money. He
explains that

stockholders would try to get other
stockholders, customers and/or employees to contribute

against their will to “social causes,” in order
to maximize profits. Friedman explains that as a

corporation succeeds, they are again imposing
taxes and spending the proceeds. “Social

responsibilities,” are a good and justifiable
way for corporations to generate goodwill while

doing everything in their own self-interest.
Friedman concludes the article by bringing a quote

from his book, “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.”

Homer-Dixon gives his own approach as to what
social responsibility in business is all

about. He explains that many organizations fail
because they manipulate their resources. Homer-

Dixon tells multiple stories as evidence that
small events that happen in the world could have a

huge impact on the entire environment/society.
Homer-Dixon says that the society must be

prepared for the impact these events can have
and overall must be prepared for change. Homer-

Dixon specifically says that organizations must
be ready and able to adapt to these tectonic

stresses that arise. He says that top management
is responsible for dealing with this as these

tectonic stresses can have a major impact on an
organization. When it comes to profit

maximizing, Homer-Dixon agrees with Friedman and
says that, “his approach is quite irrelevant

for private enterprises who base their missions
solely on profits.” He concludes that he believes

that society will adapt and make changes for the
good of the environment and society as a whole.

I personally disagree with Freidman’s argument
that the sole social responsibility of

business was to increase profits. I believe that
maximizing profits is a very important thing in

business however the social responsibility of a
business is a lot more than that. If you look at the

most successful corporations nowadays you will
almost always find that increasing profits is

secondary to other goals. I believe social
responsibility goes beyond increasing profits, it’s about

caring for the environment and society around
you and being able to adapt to changes so your

business can continue to serve people’s wants
and nee

Sours

Sources

1. Friedman, M.
(n.d.). The Social Responsibility of Business Is to Increase Its Profits. Corporate
Ethics and Corporate Governance, 173-178.
doi:10.1007/978-3-540-70818-6_14

     

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