ADMS 1010 Lecture Notes - Lecture 4: Corporate Social Responsibility, Northeast Blackout Of 2003
9 Feb 2018
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Based on his article, it is clear that milton friedman"s view of corporate social responsibility is that it should have absolutely no place in any business. He suggests that social responsibility encourages corporate executives, or managers, to make decisions that reflect their own self- interest, rather than those of the shareholders. Friedman believes that these decisions driven by social responsibility are often at the expense of the company. For example, a corporate executive could hire the hardcore unemployed instead of qualified workers, for the purpose of. Contributing to the social objective of reducing poverty. this could reduce the quality of work done and harm the company in the long run. Another example friedman uses is that a corporate executive could increase expenditures on various social issues (like reducing pollution) beyond the amount that is in the best interest of the company. friedman believes, and rightfully so, that.
