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
Citations
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Journal ArticleDOI
Corporate Social Responsibility and Organizational Psychology: An Integrative Review
TL;DR: A research agenda is put forward that goes beyond addressing gaps and focuses on how organizational psychology and CSR can be partners in helping move both fields forward—specifically, through a humanistic research agenda rooted in positive psychology.
Posted Content
Do environmental, social, and governance activities improve corporate financial performance?
TL;DR: In this paper, the authors investigated the relationship between corporate efficiency and corporate sustainability to determine whether firms concerned about environmental, social and governance (ESG) issues can also be efficient and profitable.
Journal ArticleDOI
Corporate social responsibility and financial performance relationship: a review of measurement approaches
Adriana Galant,Simon Cadez +1 more
TL;DR: The relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) has been subject to extensive empirical enquiry as discussed by the authors, and the body of evidence that has accumulat...
Journal ArticleDOI
Ethical branding and corporate reputation
TL;DR: In this article, the authors explore the concept of ethical branding and its link to corporate reputation and propose a model for assessing the value of a brand by both financial and ethical measures.
Journal ArticleDOI
The Signaling Effect of Corporate Social Responsibility in Emerging Economies
TL;DR: In this paper, the authors argue that firms that adopt CSR practices positively signal investors that their firms have superior capabilities for filling institutional voids, and they find a positive relationship between corporate social responsibility (CSR) practices and financial performance.
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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