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Comparing Views on Business Responsibility

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Need assistance on putting together a 500 Word summary on Milton Friedman's "Traditional View of Business Responsibility" and Archie Carroll's "Four Responsibilities of Business."

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Milton Friedman's "Traditional View of Business Responsibility" and Archie Carroll's "Four Responsibilities of Business"
Milton Friedman and Archie Carroll share opposite views of the responsibilities of business firms to society.
Milton Friedman does not believe in the concept of social responsibility and thus argues against it. According to Alessandro (2013), Milton Friedman's traditional view of business responsibility is that social responsibilities affect the long-term efficiency of a business negatively. His famous and much quoted adage was that "the business of business is business". According to him, a business person who acts "responsibly" by cutting the price of the firm's product to prevent inflation, or by making expenditures to reduce pollution, or by hiring the hard-core unemployed, is spending the ...

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The solution discusses comparing views on business responsibility.

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See Also This Related BrainMass Solution

1. Define the terms ethics and social responsibility. What does being ethical and socially responsible mean for the organization?
2. Discuss whether a company should put ethics and social responsibility ahead of profit making. Why or why not? Provide examples and research evidence to support your answer with examples from an Australian company.

"the relationship of an organization's ethics and social responsibility to its performance concerns both organizational managers and organization scholars"(Daft 2007). Research evidence suggests that there is a small, but positive relationship between ethical and socially responsible behavior and the organization's financial performance.
In your essay, you must:

1. Define the terms ethics and social responsibility. What does being ethical and socially responsible mean for the organization?
2. Discuss whether a company should put ethics and social responsibility ahead of profit making. Why or why not? Provide examples and research evidence to support your answer with examples from an Australian company.

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