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
Globalisation, governance, accountability and the natural resource ‘curse’: Implications for socio-economic growth of oil-rich developing countries
TL;DR: In this article, the authors consider the international dimensions of this relationship and link the impact of MNCs and their natural resource nexus to broaden debates on strategic organisational practices, and show that globalisation creates the platform for the natural resource curse phenomenon.
Journal ArticleDOI
Organizing Ethics: A Stakeholder Debate
TL;DR: The case of Shell in Ogoniland is elaborated in this article to demonstrate that the managerial version does not pay sufficient respect to other interpretations of the stakeholder concept and argues for the need of an ongoing debate on organizing and ethics.
Journal ArticleDOI
Work Ethic, Employment Contracts, and Firm Value
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Yes, You Can Teach Business Ethics: A Review and Research Agenda
Scott David Williams,Todd Dewett +1 more
TL;DR: In this article, the authors examine three common concerns raised by various stakeholders as to the viability of teaching business ethics and conclude that these concerns are not well founded, and describe three major goals from the literature related to teaching ethics: enhancing ethical awareness and sensitivity, promoting moral development, and appreciation of and skill handling complex ethical decision making.
Journal ArticleDOI
Does Corporate Social Responsibility Reduce the Costs of High Leverage? Evidence from Capital Structure and Product Market Interactions
TL;DR: In this paper, the authors examine whether corporate social responsibility (CSR) affects firms' interactions with customers and competitors, and whether it can reduce the costs of high leverage, and find that CSR reduces losses in market share when firms are highly leveraged.
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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.
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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.
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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