Friedman Vs Almeder Analysis

What do you think about the social responsibility of businesses? Do you think they have certain social requirements or should the main objective of a business be to make money? This is a very in-depth and valid question in which both Milton Friedman and Robert Almeder have strong opinions. Although their opinions are polar opposite they have valid arguments. The objective is to analyze both opinions from their perspective point of views based on the examples given in the text. A mixture of both positions would provide a common ground for all people involved. Friedman specifically states that the main objective of business is to maximize profits in any way, shape, or form as long as it is legal. Under the Friedman doctrine, the stockholders
In an article entitled “Wal-Mart’s Project Impact: A Move to Crush Competition”, states that in the current recession, Wal-Mart is out to search and destroy any surviving competition left to the giant superstore. The giant superstore is on a campaign, “Project Impact”, in which they plan to remodel their stores into cleaner, more maneuverable businesses in order to increase the shopper experience. Wal-Mart has run four of the top five toy retailers out of business, leaving Toy “R” Us as the only one standing. They also report in the article that this remodeling project will effectively leave Kmart and Rite Aid on their last leg. With businesses like Circuit City and Michael’s in the decline, Wal-Mart seeks to upgrade their store in these areas to take advantage of their competitor’s slump. The campaign will remove more of the competition but in a more subtle way that is not so obvious to the general public. This will divert some of the negative opinions that are associated with a mega discount store like Wal-Mart but still ensure that they will gain more of the markets customers once failing companies finally go out of business. Although the initial cost of this project in enormous, if it succeeds Wal-Mart would seemingly have a monopoly in super market commerce. This act will maximize Wal-Mart’s profit, which is Friedman’s main
(2008). Morality in the marketplace: Reflections on the Friedman doctrine. In F.J. Bonello & I. Lobo (ED.), Taking sides: Clashing views on economic issues (13th ed.) (pp. 10-18). Dubuque, IA: McGraw-Hill Contemporary Learning Services.
Friedman, M. (2005). The social responsibility of business is to increase its profits. In C.M. Boardman & A.N. Sandomir (ED.), Foundations of business thought (pp. 182-186). Boston: Pearson Custom Publishing.
Gregory, S. (Sep. 9, 2009). Walmart’s Project Impact: A Move to Crush Competition. Yahoo