Social Responsibility Of A Business Is To Make A Profit Analysis

It is obvious to many that the goal of a company is to make a profit. According to Milton Friedman, what many businesses do not say is that this is their only responsibility and that it is to make the highest profit possible. As members of society, we should be concerned that these decisions will have affect us. I believe that a business has the responsibility to make a profit, but it has many others as well. A business not only has to make a profit but think about the long term affects such as their employees and other stakeholders. Throughout this paper there will be many views that Friedman may not have been thought about before. To begin, I will describe why Friedman the writer of “Social Responsibility of a Business is to Make a Profit” had a off set view on business, followed by a better representation of the social responsibility of a business as a whole. Friedman believes that the only goal of a
There are many people that still believe in the foundation Friedman set decades ago. Some may believe stakeholders are not part of the business. They will try to claim that the business is just the CEOs or maybe just the owners. Many view the business as just those who work there, leaving out some stakeholders but not all. Either way it seems that they cannot completely dispose the theory that a business is not just CEOs.
At the point where they start to include the owners they would already be defying their original statement of it being solely CEOs that make up the business. Some may still try to claim stakeholders are not part of a business, but we can both agree that they influence the business, so all are indirectly related. If it is believed that all stakeholders are not part of a business, but just employees we still can make a conclusion. That is, if employees and owners should be a part then they have already destroyed their original argument refusing their conclusion in