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Gulf Oil Spill and Corporate Social Responsibility

After reading articles about the gulf oil spill and corporate social responsibility, I am having difficulty explaining how the philosophy of Milton Friedman played a role in management's decision and identifying one other ethical framework that influenced management during this event.

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First and foremost, before I begin going into detail about this question, I believe it is extremely important to identify who Milton Friedman was. Milton Friedman was a prominent economist from the University of Chicago, who has been well respected in a number of philosophical circles. Friedman was a strong defender of capitalism and firmly believed that the government should not be involved in economic matters.

When the gulf oil spill occurred, a number of individuals were extremely critical regarding the approach that British Petroleum took incorrectly their mistake. Although many people have firm beliefs about how the company handled this crisis, followers of Friedman would quickly be capable of identifying Milton's perspectives regarding the actions taken by B.P. Friedman believed that the role of businesses was to make a profit. He was quoted saying, "Corporate executives ...

Solution Summary

This solution provides information regarding ethical decision making frameworks, specifically focusing on Milton Friedman's framework in relationship to the Gulf Oil Spill. This solution highlights two ethical philosophies and explains the role that ethical viewpoints have played in newsworthy issues.