Book ChapterDOI
The Social Responsibility of Business Is to Increase Its Profits
Milton Friedman
- pp 173-178
TLDR
When I hear businessmen speak eloquently about the social responsibilities of business in a free-enterprise system, I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life as mentioned in this paper.Abstract:
When I hear businessmen speak eloquently about the “social responsibilities of business in a free-enterprise system”, I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life. The businessmen believe that they are defending free enterprise when they declaim that business is not concerned “merely” with profit but also with promoting desirable “social” ends; that business has a “social conscience” and takes seriously its responsibilities for providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers. In fact they are — or would be if they or anyone else took them seriously -preaching pure and unadulterated socialism. Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades.read more
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Journal ArticleDOI
Corporate social responsibility activity reportage on bank websites in Ghana
TL;DR: In this article, a conceptual framework was adapted from the management literature and was used as the basis of a content analysis of 16 banks in Ghana using a qualitative research approach drawing upon available information from the websites of these 16 banks.
Journal ArticleDOI
An Integrated Model to Explain How Corporate Social Responsibility Affects Corporate Financial Performance
TL;DR: In this paper, an integrated model was proposed to explain the influence of corporate social responsibility on financial performance with intellectual capital as a mediator and industry type as a moderator, which indicated that intellectual capital mediates the relationship between CSR and financial performance.
Journal ArticleDOI
Some Determinants of the Socially Responsible Investment Decision: A Cross Country Study
TL;DR: This article developed a general model of investor choice to analyse socially responsible investment (SRI) and found that SRI may be driven more by investor attitudes to the social aims of firms rather than by financial returns, and that investors who care about social issues as consumers appear to carry this behaviour over into their portfolio strategy.
Journal ArticleDOI
Reconsidering Instrumental Corporate Social Responsibility through the Mafia Metaphor
TL;DR: In this paper, the authors evaluate the instrumental perspective on Corporate Social Responsibility (CSR) in practice and theory by relying on sociological analyses of a well known organization: the Italian Mafia, and derive lessons for future CSR research with specific emphasis on a firm's social and normative embeddedness, taking into account the inherent challenge of regulating corporate behaviour in the global economy.
References
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Journal Article
Best Practice for Customer Satisfaction in Manufacturing Firms
TL;DR: In this article, the authors report the results of their investigation into the best practices of four manufacturing firms with reputations for delivering high levels of customer satisfaction, and suggest ways companies can improve their customer satisfaction measures and practices.
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Michael D. Hutt,Thomas W. Speh +1 more
TL;DR: In this paper, the authors provide a complete treatment of business-to-business marketing, including market analysis, relationship management, supply chain management, marketing strategy development and electronic commerce.
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Business marketing management
TL;DR: In this article, the authors present an overview of the business-to-business marketing environment, including how buyers buy, how to identify the customer, and how to make and move the goods.
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Industrial market segmentation
Yoram Wind,Richard N. Cardozo +1 more
TL;DR: A conceptual approach to the segmentation of industrial markets together with results from an exploratory survey of current segmentation practices in industry and two examples to encourage appropriate use of market segmentation in planning and control of marketing strategies are presented.
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