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
Toward a “theoretical toolbox” for sustainability research in marketing
TL;DR: In this article, the authors provide a foundation for future marketing research on sustainability through the application of nine prominent organizational theories, including transaction cost economics, agency theory, institutional theory, population ecology, resource dependence theory, the resource-based view of the firm, upper echelons theory, social network theory, and signaling theory.
Journal ArticleDOI
Corporate Social Responsibility and the Environment: A Theoretical Perspective
Thomas P. Lyon,John W. Maxwell +1 more
TL;DR: In this article, Reinhardt et al. discuss the frontiers of theoretical economics research on corporate social responsibility (CSR) and the environment, and define environmental CSR as environmentally friendly.
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Do socially responsible activities help hotels and casinos achieve their financial goals
Seoki Lee,Sun-Young Park +1 more
TL;DR: In this paper, the authors examined the relationship between CSR and firm value and profitability for hotels and casinos, and found that hotel companies can confidently and strategically increase CSR investment to enhance both short-term and long-term performance.
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Corporate Social Responsibility and Social Entrepreneurship
TL;DR: In this paper, the authors present a theory of corporate social responsibility (CSR) and show that CSR is costly when it is an imperfect substitute, but entrepreneurs and not shareholders bear that cost.
Journal ArticleDOI
The Relationship between Corporate Social Performance and Corporate Financial Performance in the Banking Sector
TL;DR: In this article, the authors investigated the possible connection between social performance and financial performance in the banking sector and concluded that there is no statistically significant link that indicates any positive or negative correlation between CSP and CFP.
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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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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