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
Unpacking the Drivers of Corporate Social Performance: A Multilevel, Multistakeholder, and Multimethod Analysis
TL;DR: In this paper, a multilevel, multistakeholder, and multimethod approach was adopted to estimate the relative influence of macro (national business system and country), meso (industry), and micro (firm-level) factors on CSP.
Journal ArticleDOI
Impact of Corporate Social Responsibility on Financial Performance of Corporations: Evidence from Pakistan
TL;DR: In this paper, the relationship of corporate social responsibility, financial performance, market value of the share and financial leverage was estimated for the entire period of 2010 and 2011 from the published resources of state bank of Pakistan.
Posted Content
Corporate Citizenship: The Case for a New Corporate Governance Model
TL;DR: The Center for Business Ethics at Bentley College as discussed by the authors proposed a new corporate governance model based on a new Corporate Citizenship: The Case for a New Corporate Governance Model (CCGMS).
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Governing the Large Corporation: More Arguments for Public Directors
TL;DR: In this article, the vagueness of the social responsibility doctrine, the legitimacy of corporate social decision making, and the compatibility of corporate governance with democratic principles are identified as three corporate governance problems.
Journal ArticleDOI
Reconciling Different Views on Responsible Leadership: A Rationality-Based Approach
TL;DR: In this article, the authors propose a formal mathematical model of responsible leadership that considers different types of incentives for stakeholder engagement and reveal that monetary and instrumental incentives are neither sufficient nor necessary for business leaders to consider societal and environmental stakeholder needs.
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.
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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