Ur Place Work . 4. 2 Detailed Essay

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ur place work . 4. 2 detailed examples organizations u friedmans theories applied.

Two of Milton Friedman's main points referred to the belief that all companies had the primary objective of registering profits, and also that it was normal and natural for unemployment to exist to a specific degree; it if were to be entirely eliminated, inflation would be created.

As opposed to Friedman's view, Archie Carroll believes that the primary scope of the economic agents in that of operating in a socially responsible manner. Additionally, the more modern economist states that the focus of corporate social responsibility is the natural response to the evolution in the society and the growing need of business agents to balance the needs of their multiple stakeholders (Carroll, 1991).

3.

If one were to select the principle to implement within the workplace, this would be the emphasis on corporate social responsibility, due to the particular fact that it would better ensure the professional development and personal well-being of the staff members, but also as it would create more social benefits for the entire community.

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4-5.

Despite the increasing emphasis on corporate social responsibility, it has to be remembered that the ultimate scope of the economic agents remains the generation of profits. What has however changed is the approach in which the economic agents strive to attain this objective. Some firms remain more determined to generate profits at all costs, whereas others come to implement more principles of corporate social responsibility.

Two examples of firms in the first category include Wal-Mart and ExxonMobil; the retailer has sacrificed the well-being of its stakeholders to generate the lowest price and attract the most customers and profits, whereas the oil driller has engaged in polluting activities and has also fought to perpetuate the perception that global warming and….....

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