An Analysis of The Social Responsibility of Business by Milton Friedman Essay

Critical Analysis "The Social Responsibility of BusineCritical Analysis of "The Social Responsibility of Business" from Milton FriedmanIn this essay I evaluate Milton Friedmans essay 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 Efficiency Perspective. In every article and book that I have read about social responsibility, Friedmans Efficiency Perspective is placed centrally. During my research I found that Friedman is often criticised for being too classical. Friedman believes that managers foremost objective or even moral obligation to the firm should be to maximise profits always. There is however one condition that makes his perspective more complicated, not only for me, but also for several well-known authors. According to Friedman, the managers obligations should be carried out while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom. This leads to one of the main questions of my essay To what extent does Friedmans Efficiency Perspective give foundation for responsible and moral international management behaviour? And need we any concern if it fails to do so? To fully answer the questions, I first need to explain the two different parts of the first question responsible international management behaviour and moral international management behaviour. In businesses nowadays they combine these two parts, respectively responsible and moral becomes social responsibility in international management. The second question anticipates the other theories and models we need to consider when Friedmans efficiency perspective does not give foundation for social responsibility in international management. However before I go in further detail to answer these questions, I first explain more about the concept social responsibility. After this I explain Friedmans full theory, and how it related to these different models of social responsibility, and finally I will draw a conclusion. Business ethics compromises moral principles and standards that guide behaviour in the world of business (Ferrell...

Comments

Post a Comment

Popular posts from this blog

A Character Analysis of Annie Wilkes in Misery by Stephen King Essay

What does it take to frighten an author of best-selling horror novels? In Misery, Stephen King embodies a writer's fears about himself as a writer and about the continuation of his creativity in a richly elaborated and horrifi-cally psychotic woman, Annie Wilkes. In the novel, Annie represents a mother figure, a goddess, and a "constant reader". In reality, however, An-nie merely represents a creative part of King's mind.Annie Wilkes is a proud mother of two children--a historical-romance novelist, Paul Sheldon, and his extremely popular heroine Misery Chastain. Annie must nurse and educate Paul. Gottschalk elaborates, "Annie views Paul in a madly maternal way. Early in her custody of Paul, she brings him pills for his excruciating pain, but he must suck them off her fingers in a grotesque parody of a nursing child" (125). If she leaves him untended too long, Paul wets his bed, and she must change his sheets and clothes. When he is tired or frustrated, he we...
Read more

An Analysis of the Character of Chichikov in the Poem, Dead Souls by Nikolai Gogol Essay

Dead Souls takes place in the Russia of the late 1800s, where, unlike in America, one must be born into a prosperous family in order to have opportunities. The main character, Chichikov, is clever enough to develop a scheme in which he can rise from being a petty clerk to a respected landowner. In order to do this, Chichikov moves into a new town, pretending to already be a landowner, and begins a quest to buy the names of dead serfs who have not yet been officially reported dead. Each person that Chichkov presents this offer to has a different reaction, starting with the shy and introverted Manilov. Though he does not understand Chichikov's need for the names of these dead serfs, Manilov is a character that is so desperate for company that it does not take any effort to trick him into selling his dead souls cheaply. However, as Chichikov continues his journey, he starts to deal with more clever landowners who become suspicious of his scheme. Chichikov finds that the townsmen know...
Read more

Religious Symbolism in The Blessed Damozel, a Poem by Dante Gabriel Rossetti Essay

Dante Gabriel Rossettis poem The Blessed Damozel is full of religious symbolism. There is talk of saints, and the poem itself takes place in heaven. But underneath the religious symbolism is a deep sensuality, that makes one wonder if the white rose of Marys gift referred to in line nine is the gift of Mary the Virgin, or the somewhat less virginal Mary Magdalene. While the Damozel is in heaven, her appearance in heaven, her behaviors in life, and what happens when she and her lover are reunited suggest some less than virginal dealings, yet the damozel is blessed and resides in heaven. Rossetti was the child of liberals kicked out of Italy a heavily catholic country for their extreme political views. While Rossetti himself was not political, he may have espoused similar views regarding politics and religion as his parents. In the poem The Blessed Damozel, Rossetti was given the chance to essentially create his own heaven. Most everything he wrote seems to show that Rossetti espoused ...
Read more