Corporate Social Responsibility Is A Moral And Ethical Standard Of An Organization

1735 Words Oct 24th, 2016 7 Pages
Corporate Social responsibility is a moral and ethical Standard of an organization. Everyone has a social responsivity to society, not just business but also individual’s .We all have to work towards building a better society. Some companies are philanthropist, having extent socially responsibility to its employees and the general community in which it operates. Some economists think a corporate social responsibility should be to maximize profit while others think it’s about giving back to the community and acting in an ethically and morally manner. One such economist is Milton Friedman, who believes that social responsibility of a corporation is to make a profit. Friedman argues that the only social responsibility of businesses is to make a profit. He based his beliefs and ideas on the principles and whether the wants is just a mean to an end or if it is worth the risk associated. In his article, The Social Responsibility of Business is to increase its profits, he argues that the primary objective of a business is to maximize shareholders’ wealth. According to Friedman, organizations destabilize the basis of a free society when they espouse corporate social responsibility. He stressed that the responsibility of a manager is to pursue profit maximization activities within its area of specialization in order to sustain business’ long-term healthy growth. Additionally, Friedman condemned supporters of corporate social responsibility for “preaching pure and unadulterated…

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