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 responsibility for sustainable development: a review and conceptual comparison of market- and stakeholder-oriented strategies
TL;DR: In this article, the authors compare two mainstream business theories, namely market and stakeholder orientations, as contending strategies of corporate responsibility for sustainable development, and conclude that market orientation is superior to stakeholder orientation.
Journal ArticleDOI
Corporate Social Responsibility and Financial Performance: An Empirical Analysis on Greek Companies
TL;DR: In this paper, the authors explore the relationship of CSR and firms' financial performance in Greek firms and find that there is a positive correlation among stock returns and CSR performance.
Journal ArticleDOI
Corporate Social Responsibility That “Pays”: A Strategic Approach to CSR for SMEs
Carmen R. Stoian,Mark W. Gilman +1 more
TL;DR: In this article, a model of CSR activities that enhance small and medium enterprises (SMEs) growth is proposed, and the authors test this model using multinomial logistic analysis and data from a survey with 211 U.K.-based SMEs.
Journal ArticleDOI
The role of corporate social responsibility, perceived quality and corporate reputation on purchase intention: Implications for brand management
TL;DR: In this paper, the authors explored the interaction between CSR and corporate reputation and put forward a set of hypotheses about the expected linkages, based on findings from a study on a sample of customers of two brands of a traditional type of Italian Christmas cake.
Journal ArticleDOI
The effects of corporate social responsibility on firm performance: A stakeholder approach
Borham Yoon,Yeasun Chung +1 more
TL;DR: In this paper, the authors compare the internal and external stakeholder effect of corporate social responsibility (CSR) on a restaurant firm's financial performance and find that external CSR enhances a firm's market value but is negatively related to operational profitability.
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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.
Book
Business marketing management : A Strategic view of industrial and organizational markets
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.
Book
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.
Journal ArticleDOI
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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