COMM 104 Chapter Notes - Chapter 1: International Labor Standards, Corporate Social Responsibility, Business Ethics
1 Sep 2016
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Be csr must enable business students to become better managers or professionals so they can benefit their own careers and meet the expectations of society. Milton friedman once famously said that the only social responsibility of business is to make a profit however business practice in canada and around the world today has rendered this statement remarkably narrow. Friedman s viewpoint is typically known as the traditional theory of a corporation. Aka corporations are run for the benefit of their owners shareholders. Friedman wrote that corporations must operate within the rules of the game without deception or fraud. Businesses today however usually consider many different views not just those of the. Sh aka consumers society as a whole interest groups employees etc. Looks beyond the interests of sh when making decisions and considers the perspectives of other stakeholders. Stakeholders decision are people or groups of people who have an interest in a business.
