Milton Friedman, “the Social Responsibility of Business Is...

Milton Friedman, â€Å"The Social Responsibility of Business is to Increase Profits† In the article, â€Å"The Social Responsibility of Business Is to Increase Profits,† Friedman states that â€Å"businessmen believe that they are defending free enterprise when they proclaim that business is not concerned merely with profit but also with promoting desirable social ends.† This social responsibility is defined as Corporate Social Responsibility (CSR), which is the belief that â€Å"corporations owe a greater duty to their communities and stakeholders† by having a â€Å"social conscience.† This, among other things, includes being environmentally responsible, contributing to non-profit organizations, and eliminating discrimination. Friedman argues that only†¦show more content†¦Because corporations are established to profit and shareholders invest money with expectations of a greater return, managers cannot be given a directive to be â€Å"socially responsible† without providing specific criteria of checks and balances to which needs to adhere. Therefore, it is imperative to the success of a corporation for managers to not act solely but rather to act within the policies of the shareholders. What Friedman implies is that shareholders should only be concerned with maximizing profits and not be obligated to be â€Å"socially responsible.† In that case, the manager would only have one priority, to maximize profits. However, what if that manager determined that social endeavors is the best option to maximize profits? This would make the corporation socially responsible while still maintaining maximum profits. The argument presented by Friedman in this case is that while the manager is performing as expected by maximizing profits, this type of â€Å"social responsibility is frequently a cloak for actions that are justified on other grounds rather than a reason for those actions.† This â€Å"cloak† refers to corporations acting socially responsible but for the sole purpose of making profits rather than performing such endeavors for the sole purpose of benefiting society. An example would be a solar company providing â€Å"free† electricity to a campus in exchange for use land to promoteShow MoreRelatedMilton Friedmans Essay Analysis of The Social Responsibility to Increase Profit 727 Words   |  3 Pagestaking a look at the famous Milton Friedmans essay The Social Responsibility of Business is to Increase Profit . The following paper is an attempt to critically evaluate the article in consideration of Freeman Stakeholder Theory. First thing let us start with a little overview of what Milton Friedman exposed in his article. It seems that the whole point of his essay revolves around one basic statement which clearly says that the only social responsibility of business is to use its resources andRead MoreArgument For Promotion Of Core Csr1635 Words   |  7 Pagesargue my middle must against my opponent (Milton Friedman’s) â€Å"must not† argument for promotion of core CSR. WE MUST PROMOTE CORE CSR vs WE MUST NOT PROMOTE CORE CSR Milton Friedman, in his work titled, â€Å" The Social Responsibility of Business is to Increase its Profits†, emphasizes the role of business in society is to maximize shareholder wealth, and likens any activity misaligned with regard to that mission as â€Å"stealing†. In my argument against Milton Friedman’s â€Å"must-not† engage in core CSRRead MoreWal-Mart Case Study on Csr1616 Words   |  7 PagesCCGL 9018 Final Essay Name: CHAN YIK UID 3035036503 Case study of Wal-Mart Introduction In this essay, the case of Wal-Mart will be discussed by applying the Milton Friedman’s argument on CSR and utilitarianism. Wal-Mart is the largest retailer in the world, however, it is also known for ruthless exploitation of employee, squeezing suppliers, and crushing communities. It has been the Public Enemy No. 1 for a generation of activists and reformers. To cope with these oppositions, Wal-MartRead MoreMilton Friedman1624 Words   |  7 PagesIn this essay I evaluate Milton Friedman’s essay: â€Å"The Social Responsibility of Business Is to Increase Its Profits† in 1970, on the Social Responsibility of a business and his theory, which is called the â€Å"Efficiency Perspective†. In every article and book that I have read about social responsibility, Friedman’s â€Å"Efficiency Perspective is placed centrally. During my research I found that Friedman is often criticized for being too classical. Friedman believes that manager’s foremost objective or evenRead MoreMilton Friedman: The Goal of the Firm744 Words   |  3 PagesMilton Friedman the Goal of the Firm The three goals of the firm are to maximum market value, maximum share price, and maximum value of owner equity. Milton Friedman asserts the only responsibility of a business is to increase its profits. Friedman reasons that corporate executives are employees of the owners of the business, or the stockholders, and as such have a fiduciary duty as agents to principals. The concept of social responsibility implies something other than to increase profits and ifRead MoreThe Social Responsibility Of Corporations Essay806 Words   |  4 Pagesimportance of social responsibility within corporations. This paper also explores â€Å"The Social Responsibility of Business is to Increase its Profits† by Milton Friedman and his stance on social responsibility. Friedman believed that corporations should not waste money on new initiatives if it was just to appease the public, especially if it went above what laws required. Examples are shown how corporations must listen to the customer or it could hurt the profitability of the corporation, with social mediaRead MoreMarx View on Capitalism1635 Words   |  7 Pagesis a social inquirer, he sees a lot and he chooses accordingly, what was it about his character Joe Keller that makes All My Sons, written in 1947, so important to us that we are reading it in University in 2009? History speaks to the present, and this text takes us into the past to help us understand the flaws of our socio economic system of capitalism and questions the social responsibility of businesses under capitalism. Social responsibility of a business is the willingness of a business to acceptRead MoreThe Ford Pinto Case Analysis1576 Words   |  7 PagesThe Ford Pinto Case Milton Friedman believed a free-market system, in which goods and services are exchanged and controlled by individuals and privately-owned businesses without government authority, was the only way to achieve personal freedom. Adam Smith, a 18th century philosopher and economist, held the belief that in a free society, the role of government should be limited to the protection of the people, the administration of justice through the court system, and the maintenance of all publicRead MoreEssay on Friedman vs Freeman827 Words   |  4 Pagesfield of business ethics. There are two approaches to answering such questions. The first one is Milton Friedman’s shareholder theory of management and the second one is Edwards Freeman’s â€Å"Stakeholder† theory of management, two different views about the purpose and aims of a business. Milton Friedman’s shareholder theory of management says that the purpose of a business is to make money for the owner or the stockholders of the business. Friedman says that there is only one social responsibility forRead MoreThe Social Responsibility Of Business1042 Words   |  5 PagesCorporate Social Responsibility is defined as a business preparation that involves participating in creativities that help society. Friedman: The Social Responsibility of Business is to increase its profits. Milton Friedman argues that the only social responsibility a business has is to itself – mainly to its profits, and therefore, its stakeholders. The business management in charge of a company works for the organization and eventually for the stakeholders. This person is responsible for carrying

Adolescence Developmental Psychology and Social Work...

Module Title: Human Growth and Behaviour. Assessment Title: What are the advantages and disadvantages of viewing behaviour through the life-span perspective for social practise? ADOLESCENCE The author’s aim is to outline the advantages as well as disadvantages in adolescence behaviour and human development processes across people life span, and particular adolescence. This essay will look at the different models, theories of social work and the factors that may have influence social work practice. The physical, psychological, socio-cultural, environmental and politico-economical are the factors that Bowlby (1999), Erikson (1995), Freud and Piaget (1977) have mentioned in their theories and the author will explore, discuses and†¦show more content†¦Piaget (1977) the author of cognitive development theory believed that the child seeks to understand and adopt into the environment. In doing so, the child undertakes certain actions as it moves through stages of development. Another approach to understand the human life course from a developmental psychology perspective is presented trough theories that focus on behaviour and how behaviour and actions influenc e our learning. (Piaget, 1977) Skinner’s (1953) behaviourism explained human development as the acquisition of behaviourism that is learned through responses to experiences. Skinner did not see the individual’s thoughts or conscious mind as influencing their behaviours, but rather behaviour as a response controlled by the rewards or punishments in the individual’s environment. (Skinner, 1953) Albert Bandura (1977) also emphasised in his social learning theory the importance of behaviour and the environment, but he saw cognition or thoughts as being a significant factor in the person’s development. Therefore, the social learning theories consider the influence of values, beliefs, self-determination, emotions and thought on the learning process. Psychosocial theories arise from a combination of two perspectives psychology and sociology disciplines. David Howe describes psychosocial as being created by the interplay between the individual’s psychologicalShow MoreRelatedThe Process of Adolescent Development Essay1566 Words   |  7 PagesIntroduction Adolescence is a transition which has no fixed time limits. However, the changes that occur at this time are so significant that it is useful to talk about adolescence as a distinct period of human life cycle. This period ranges from biological changes to changes in behavior and social status, thus making it difficult to specify its limits exactly (Damon, 2008). Adolescence begins with puberty, i.e. a series of physiological changes that lead to full development of the sexual organsRead MoreWhat Is the Significance of Adolescent Psychology and Is It Important for an Educator to Be Knowledgeable of It?830 Words   |  3 PagesSpring 2014 Adolescence is a transitional period we will all come to experience. What makes adolescence stand out is that it is a period in our lives that links what we have experienced in our childhood to developing and shaping the individuals we will become during adulthood. This particular field in psychology calls for a focus on young people’s abilities, strengths and developmental needs. There is an extensive amount of research that focuses on adolescent development and how it impacts an individualRead MoreEarly Life Experiences Impact The Person Across Their Lifespan930 Words   |  4 Pagesthe Jane Piaget theory ‘Stages of cognitive development’ (1936) and Erik Erikson theory ‘Psychosocial stages’ (1950). Piaget argued that children develop knowledge by constructing their experience and observe with their own ideas about how the thing works.(Burton, L.J., Westen, d. Kowalski, R.M. 2015) He developed 4 stages of his theory: Sensorimotor Stage, Preoperati onal Stage, Concrete Operational Stage and Formal Operational Stage. At the same time, Erik Erikson proposed a psychoanalytic theoryRead MoreHuman Behavior And Inner Emotion1329 Words   |  6 Pagesestablished throughout history to help analyze social behavior in both animals and people. Psychologists use the six main perspectives to better rationalize human behavior and motivation: these perspectives are (but not limited to) the biological, social-cultural, cognitive, developmental, psychodynamic, and behavioral perspectives. These approaches helps psychologists and individuals further their understanding of social behavior and inner emotion. In psychology, a biological perspective is imperativeRead MoreHuman Development Is The Roots Of Work Essay2284 Words   |  10 Pagesthe selected topic LIFE SPAN and subtopics of infant care, childhood, adolescence, adult and gerontology. Research is important in psychology as it can provide professionals like psychology professionals, guidance counselors, and marketing executives with a baseline of typical and atypical in human behavior . Understanding the aging process is important to a Psychologist, to do this one must research developmental psychology. The research presented in Lifespan theory has led to propositionsRead MoreResearch Intervention And Prevention Programs867 Words   |  4 Pagesaffected the children these children, who ranged in age from infancy to adolescence. However, I was impacted by the fact that many of these children were not receiving the intervention services they likely needed to promote their social, emotional, and academic growth, even though th eir family was recently and is possibly still in crisis. While this was upsetting to me, it motivated me to pursue a career in developmental psychology where I could impact children in need of effective intervention and preventionRead MoreDevelopmental Skills : Childhood And Social Emotional Development Essay1530 Words   |  7 PagesDevelopmental Skills Domain in Early Childhood Social-Emotional Behavior. Social-emotional development includes the child’s experience, expression, and management of emotions and the ability to establish positive and rewarding relationships with others (Cohen and others 2005). It encompasses both intra- and interpersonal processes. The core features of emotional development include the ability to identify and understand one’s own feelings, to accurately read and comprehend emotional states in othersRead MoreMy Paper On Is Educational Psychology1545 Words   |  7 Pages The topic pertinent to psychology that i chose to do my paper on is educational psychology. Educational psychology is the study of how humans learn and retain knowledge, primarily in educational settings like classrooms. This branch not only involves just the learning process of early childhood and adolescence but it also involves the social, emotional, and cognitive learning processes that are involved in humans throughout their entire lifespan. Educational psychology combines numerous amountsRead MorePsychology And Sociology And Psychology1612 Words   |  7 PagesWhen we think of society or people, and their behavior, psychology and sociology come to our mind. This is because they are academic fields that posses the same main idea, which is the study of the behavior. Although these two sciences have enormous differences, for those whom never had read anything about this topics it would seem the same. Despite bearing some superficial similarities, the differences between sociology and psychology are pronounced. Actually the main contrast between them isRead MorePhysical and Cognitive Development1246 Words   |  5 PagesPhysical and Cognitive Development PSY/ 103 Introduction to Psychology This paper is will focus on the influences of physical and cognitive development in adolescence from 12 to 18 years of age. This part of the developmental stage has many factors that affect the physical development as well as the cognitive development in adolescence. In addition to influences of physical and cognitive development this paper will also focus on the hereditary and environmental influences that make

Alexander the Great was a man with no equal in His Essay Example For Students

Alexander the Great was a man with no equal in His Essay tory. He was one of the most important forces known to man. Alexander the Great then crossed the Hellespoint, which is now called the Dardanelles and, as head of a Greek army undertook the war on Persia that his father had been planning. The march he had begun was to be one of the greatest in history. Alexander was one of the biggest influenced on people of all time and one of the most powerful personalities. He really molded people into acting the correct way. He brought people together and showed them how to live better. He defiantly changed the lives of many. Alexander the Great was born in 356 BC Philip his father was the brother of Perdiccas III king of Macedonia. His mothers name was Olympias. Olympias was the daughter of King Neoptolemus I. He was known wide to be a great powerful man. Alexander had a younger sister named Cleopatra. The whole family had a lot of very important background. It was a fact that Alexander and Cleopatras parents did not get along. At this time it was a Macedonian tradition to have many wives. Philip had several and Olympias hated them all. She felt much hate towards them. When one of her rivals gave birth to a retarded son Arridaeus, there were many rumors that Olympias poisoned him. Olympias told Alexander that Philip wasnt his real father although he was. He made sure the boy was well educated, even the great philosopher Aristotle was one of Alexanders tutors. Even thought he though him well Philip wasnt a very good father. He always discouraged Alexander and made him feel worthless. When Alexander the great was 3 his fathers son King Perdiccas died. His young son Amyntas was supposed to take his place as ruler. Philip was supposed to help him but he made his way above him making himself King Philip II. He proved to be a strong ruler, and in a few decades he conquered most of Greece. As a teenager Alexander became friends wit a boy around his age named Hephaestion. It was rumored that they were lovers. At this time Homosexuality was accepted in Greece. Even Alexanders father had many male lovers. Till this day no one really knows the relationship between the two but it is said that throughout their lives they stood by each other. When Alexander turned his father went away to war, leaving Alexander to serve as leader of Macedon. During the time Philip was away Alexander led people to the area known today as Bulgaria where he made his first city, Alexandropolis. After the success of this he became a general in his fathers army. Even though it seemed Alexander was a good son, things were still tense between him and his father. His father would always try to hurt him in any way possible. On one occasion Philip was injured while fighting soldiers, He fell to the ground and played dead while Alexander shielded him and had to fight off his attackers. Philip never even acknowledged that Alexander had saved his life. Alexander was known as having a bad temper. He would always yell at everyone and start fights. He was always upset that his father did not come about him. One time at a party Alex got mad at something that someone said and started fighting. History does not record what they said, but it was enough to enrage Philip. He pulled his sword, lunged at Alexander and fell drunkenly to the floor. Look, men, Alexander sneered, hes about to cross from Europe to Asia, and he falls crossing from couch to couch. This was about the time when they were planning to invade the Asia Minor. .u9a32262705943578da8e4a727772a46e , .u9a32262705943578da8e4a727772a46e .postImageUrl , .u9a32262705943578da8e4a727772a46e .centered-text-area { min-height: 80px; position: relative; } .u9a32262705943578da8e4a727772a46e , .u9a32262705943578da8e4a727772a46e:hover , .u9a32262705943578da8e4a727772a46e:visited , .u9a32262705943578da8e4a727772a46e:active { border:0!important; } .u9a32262705943578da8e4a727772a46e .clearfix:after { content: ""; display: table; clear: both; } .u9a32262705943578da8e4a727772a46e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9a32262705943578da8e4a727772a46e:active , .u9a32262705943578da8e4a727772a46e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9a32262705943578da8e4a727772a46e .centered-text-area { width: 100%; position: relative ; } .u9a32262705943578da8e4a727772a46e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9a32262705943578da8e4a727772a46e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9a32262705943578da8e4a727772a46e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9a32262705943578da8e4a727772a46e:hover .ctaButton { background-color: #34495E!important; } .u9a32262705943578da8e4a727772a46e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9a32262705943578da8e4a727772a46e .u9a32262705943578da8e4a727772a46e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9a32262705943578da8e4a727772a46e:after { content: ""; display: block; clear: both; } READ: Down syndrome 3 Essay Much time had gone buy and many important things happened to his family and friends. All these people had a great effect on the way he acted in his job as a leader. After his fathers murder in 336 BC Alexander became King Alexander III. Once he got power he had many people executed such as his cousin. One person suprisingly he did not kill was his retarded half-brother. Philips .