ADMS 3660 Lecture Notes - Lecture 4: Walton Family, Reverse Auction, Carl Friedrich Philipp Von Martius
19 Jun 2019
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Lecture four: lecture summary: the goal of this session is to examine the role of business in society and the extent of its ethical obligations. The major question that will be examined is whether business merely obligated to maximize profit for its shareholders or whether there are additional obligations to a broader circle of stakeholders (e. g. employees, stockholders, consumers, suppliers, community, and society). 1,436 child labor infractions, pay disproportionately high % of health costs. Poverty-level wages (in 2001: average annual wage 13,861 or 8. 23/h; us poverty level is 14,630) Sued for sex discrimination (sales-70% women; management-90% men) Sued for violation of disability act, charged with employing illegal aliens (raid arrested 250 janitors: communities: National suppliers lose to china and central america (often using sweatshops) Theoretical foundation of the stockholder model: milton friedman (1912-2006), american scholar, nobel prize winning economist and statistician, argued for the limited view of corporate social responsibility in his book.
