Today, the growth of modern business is closely associated with the social development. According to Needle, 2010 , ‘Some companies have acknowledged that there is enhanced corporate to be gained through recognizing that capitalism will be most successful when it cares for its customers, its producers, the environment and the communities in which it operates.’(Needle, 2010, P245) This usually be called “corporate social responsibility”, which means that business have responsibility to make some contribution to the society. However, Milton Friedman who is one of the most famous free-market economists in the world argued that the only social responsibility for business is to increase its profits (Milton Friedman, 1970). Same with Friedman, another
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One of the most famous business models is Nike which went from villain to Hero (Andrea Newell, 2015). In the past 20 years ago, Nike was boycotted by the local people due to Nike industry in Vietnam’s notorious work conditions and abuses of labors especially the child labor. It is unthinkable that one worker work in a small, mess place for 12 hours a day with only 8 dollar daily wages. This reaps staggering profits practice has seriously effect on the company’s credibility. Thus it can be seen that if a company for the pursuit the profit in such a way, thereby neglect the social responsibility will blocked the development of business. However, in the 1998, the CEO (Phil Knight) in Nike was adopted the new policy which is CSR that improve work condition and treatment, continuous dealing different problem. In addition, Nike now takes active part in the social activity, such as focus on the lack of water issue and water pollution issue. Through these series improvement method, Nike winning the clients back and has been became one of leaders in the part of marketplace. Following the Nike this business example, it can be believed it that Friedman’s view “Business is business is business” has caused the questionable …show more content…
In addition, the illusion that as an executive spend money from business for social purpose and ignore stockholder’s profit could be considered that imposing tax is partial. Alert business exist by the target of profit, however, in modern day a business executive have to admit that to create a beneficial enterprise environment for long term , it cannot be ignored the social responsibility .”Supposed if a company for profit do harm to the society by their irresponsible conducts, society will not allow them exist in the future” (Tom cannon, 1994). Therefore, there is no denying that an executive cost shareholder profit for exercising social responsibility is imposing tax disrupt the government mechanism , furthermore a far better approach might be grasp the overall
One of the most famous business models is Nike which went from villain to Hero (Andrea Newell, 2015). In the past 20 years ago, Nike was boycotted by the local people due to Nike industry in Vietnam’s notorious work conditions and abuses of labors especially the child labor. It is unthinkable that one worker work in a small, mess place for 12 hours a day with only 8 dollar daily wages. This reaps staggering profits practice has seriously effect on the company’s credibility. Thus it can be seen that if a company for the pursuit the profit in such a way, thereby neglect the social responsibility will blocked the development of business. However, in the 1998, the CEO (Phil Knight) in Nike was adopted the new policy which is CSR that improve work condition and treatment, continuous dealing different problem. In addition, Nike now takes active part in the social activity, such as focus on the lack of water issue and water pollution issue. Through these series improvement method, Nike winning the clients back and has been became one of leaders in the part of marketplace. Following the Nike this business example, it can be believed it that Friedman’s view “Business is business is business” has caused the questionable …show more content…
In addition, the illusion that as an executive spend money from business for social purpose and ignore stockholder’s profit could be considered that imposing tax is partial. Alert business exist by the target of profit, however, in modern day a business executive have to admit that to create a beneficial enterprise environment for long term , it cannot be ignored the social responsibility .”Supposed if a company for profit do harm to the society by their irresponsible conducts, society will not allow them exist in the future” (Tom cannon, 1994). Therefore, there is no denying that an executive cost shareholder profit for exercising social responsibility is imposing tax disrupt the government mechanism , furthermore a far better approach might be grasp the overall