businesses help society in any way they can. I am going to discuss my views with the provision of examples. Businesses are closely related to citizens’ livings. We need necessities to make our living and get them from trade. Trade is a kind of business activities. It is no matter citizens never live as a norm without businesses. In the case of developer hegemony‚ unscrupulous businessmen purchase flats and make them luxuries for citizens. Facing the ageing population’s problem‚ the huge housing
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Week 8 Tutorial: Corporate Approaches to Responsible Business (Assessed) Critical Reflection: Question 6 (Shaw et al textbook‚ pp.198-199) Read the Kellogg case before your tutorial and prepare typed answers to the following questions. Question 1 : Do you think that Kellogg’s CSR statement is sincere‚ or is the company merely trying to convince stakeholders that it is a socially responsible company? Explain. Answer: CSR statement of Kellogg has deceived the public as their products has been
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Do you agree with Milton Friedman’s (1970) claim that : « the only responsibility of business is to increase its profits » ? Milton Friedman was an American economist‚ statistician and writer‚ who had a massive impact on the research agenda of the economics profession. His famous words “the only responsibility of business is to increase its profits” (Friedman‚ Milton. 1970) led to many controversial debates on whether businesses should have ethics or if profit should be their main goal. Corporate
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field of business ethics. There are two approaches to answering such questions. The first one is Milton Friedman’s shareholder theory of management and the second one is Edwards Freeman’s “Stakeholder” theory of management‚ two different views about the purpose and aims of a business. Milton Friedman’s shareholder theory of management says that the purpose of a business is to make money for the owner or the stockholders of the business. Friedman says that there is only one social responsibility for
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of producers and writers to bring bigotry out in the open where people would laugh rather than take offense. Archie was considered a bigot who was admired for his candid style by some while others were able to accept it as humorous. “Some viewers applaud Archie for his racist viewpoint‚ while others applaud the show for making fun of Bigotry” (Vidmar and Rokeach). The article‚ “Archie Bunker’s Bigotry: A Study in Selective Perception and Exposure reveals an oppositional reading in which viewers
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The article by Milton Friedman titled the social responsibility of business is to increase profits and the speech given by bill gates at the world economic forum 2008 both address the nagging topic of social responsibility of corporations. Both articles offer tremendous insight on this issue. Friedman points out the contradiction of the notion of social responsibility and the aim of making profit while gates introduces Recognition as a new variable in this equation. The purpose of this essay is
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Peter Drucker‚ in his paper What is “business ethics”? (1981)‚ makes the argument that ethics‚ as the “in” subject‚ is defined as “one set of rules of morality which governs individual behavior and that it applies to everyone alike”. The reason for the insistence on one set of rules is that‚ otherwise‚ only the powerful‚ the strong and the successful will gain exceptions. According to this paper‚ ’business ethics’ implies that acts that were done by an average person are not immoral or illegal
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What is the Social Responsibility of Business? Back up your argument with information from these 2 articles as well as using information from at least 2 other websites you have located. The support in your paper must be documented using in-text citations and a Works Cited page (MLA format). For proper documentation format‚ you may refer to these links as well as those found in the Webliography link under "Research/Documentation." What is the Social Responsibility of Business? After reading
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definition of business on google and one will get five immediate definitions. None of the definitions sound particularly warm or heartfelt in the way it describes business as an obligation or worry. One could say the definitions are “all work.” On the other hand‚ when one looks up the definition of social business‚ words like new‚ future‚ and sustainability are associated with it. According to Muhammad Yunus’ seven principles of Social Business‚ the number one objective of social business is to overcome
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Rethinking the Social Responsibility of Business By Thomas Malthus (See note at the bottom of the page) Thirty-five years ago‚ Milton Friedman wrote a famous article for The New York Times Magazine whose title aptly summed up its main point: "The Social Responsibility of Business Is to Increase Its Profits." Friedman had no patience for capitalists who claimed that "business is not concerned ’merely’ with profit but also with promoting desirable ’social’ ends; that business has a ’social conscience’
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