The theory of corporate social responsibility proposed by Milton Friedman says a corporation is part of society and needs to participate in promoting the social welfare of the community. O True False
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- What is CSR, and why is it important? Thinking about the organization where you work or one you are familiar with, how does the company engage in CSR? Does it do all that is reasonable to do? Why or why not? in OpenstaxWhen discussing CSR practices, it's important to ensure they serve a double function: a. They should follow efficiency models based on quality management, as well as being approved by the appropriate government bodies. b. They should contribute to society and be considered good business. c. They should be profitable and easy to implementCorporate Social Responsibility (CSR) refers to a company's commitment to taking actions that benefit society beyond its core business activities and profit generation. It encompasses a wide range of initiatives aimed at environmental sustainability, ethical labor practices, community development, and philanthropy. By engaging in CSR activities, companies can build positive reputations, enhance employee morale, and contribute to the well-being of the communities in which they operate. How can a company strike a balance between maximizing profits for shareholders and fulfilling its CSR obligations to society and the environment?
- The economic model of social responsibility emphasizes the effect of business decisions on society; True or FalseCorporate Social Responsibility (CSR) extends beyond the organization to focus on the relationship between the organization and its external stakeholders. Corporations are finding that CSR is essential to fundamental business strategy a) What are the three reasons why corporations should care about corporate social responsibility?The FCC was founded back in the 1930s and is still a functioning body today. Start by telling me what it is, then discuss its significance. How has it affected the industry? What changes has it brought about? How has IT changed over the years. Do you think it is a "Force For Good," or (potentially) a "Force For Harm"? Is it still relevant/effective/needed today?
- What is CSR, and why is it important? Thinking about the organization where you work or one you are familiar with, how does the company engage in CSR? Does it do all that is reasonable to do? Why or why not?Use movie the proposal to answer questions in terms of business ethics 1. What makes this situation unethical? 2. What would you do if you were in this situation? 3. Do you agree or disagree with the outcome of the situation?What do you believe the role of the corporation is? Do you agree or disagree with Milton Friedman’s view that “There is one and only one social responsibility of business,” the Nobel economist wrote in 1970: to “engage in activities designed to increase its profits.” Companies must obey the law. But beyond that, their job is to make money for shareholders. https://fortune.com/longform/business-roundtable-ceos-corporations-purpose/
- Identify and describe the corporate responsibility view that was advocated by Milton Friedman.Explain the challenges a business faces and the seriousness of financial responsibility?Analyze and explain why fairness and honesty in business are important ethical concerns. Evaluate and describe some of the major ethical issues businesspeople face.