Mcdonald Friedman 's Corporate Social Responsibility Essay

1433 Words Sep 11th, 2016 6 Pages
Up until the mid to late 20th century, businesses were only recognised for doing one thing which was to increase their profit return to their investors within legal boundaries. However, as a result of an era of social activists, Carroll (1991) acknowledges Corporate Social Responsibility (CSR) as a further extension of a business’s arm to also act within ethical and philanthropic avenues that society would expect of businesses.
Like most controversial discussions there is always two opposing views which I will introduce as those like Milton Friedman who opposed CSR as the only obligation a business had was to “make as much money as possible while conforming to the basic rules of society” and to not simply do this would be to disadvantage the business (Friedman 1970, p. 122). On the other hand of the discussion we have academics like Carroll who frame that CSR is not a concept that would disadvantage a business but instead benefit it in the long run whereby all stakeholders within the business are looked after in the present and as a result profit returns will continue to be viable and relevant in the future administration of the business (Carroll and Shabana 2010).
The goal of this essay is to provide a discussion about the opposing views highlighted in regards to CSR and furthermore address the benefits and issues that arise from employing CSR as an initiative within a business. From here I will have outlined a boundary to the best of the evidence that I provide in regards…

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