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
Organizational Stages and Cultural Phases: A Critical Review and a Consolidative Model of Corporate Social Responsibility Development
TL;DR: Based on a stakeholder-oriented conceptualization of corporate social responsibility (CSR), the authors offers a multi-dimensional, dynamic perspective which integrates moral, cultural and strategic aspects of the CSR development process, together with its organizational implications.
Journal ArticleDOI
On the Foundations of Corporate Social Responsibility
Hao Liang,Luc Renneboog +1 more
TL;DR: In this paper, the authors find that corporate social responsibility is more strongly and consistently related to legal origins than to doing good by doing well, and most firm and country characteristics such as ownership concentration, political institutions, and degree of globalization.
Journal ArticleDOI
The Link Between Job Satisfaction and Firm Value, With Implications for Corporate Social Responsibility
TL;DR: In this paper, the effect of job satisfaction on firm-level value has been studied, rather than employee-level productivity, to take into account the cost of increasing job satisfaction, and the results have three main implications: job satisfaction is beneficial for firm value.
Journal ArticleDOI
Is Corporate Responsibility Converging? A Comparison of Corporate Responsibility Reporting in the USA, UK, Australia, and Germany
Stephen Chen,Petra Bouvain +1 more
TL;DR: In this article, the authors examined a sample of leading companies in four countries (US, UK, Australia, and Germany) and test whether or not membership of the Global Compact makes a difference to CSR reporting and is overcoming industry and country specific factors that limit standardization.
Journal ArticleDOI
Does product market competition foster corporate social responsibility? Evidence from trade liberalization
TL;DR: This article examined whether product market competition affects corporate social responsibility (CSR) and found that domestic companies respond to tariff reductions by increasing their engagement in CSR, which supports the view of CSR as a competitive strategy that allows companies to differentiate themselves from their foreign rivals.
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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