would love it if you could give me your outlook on this questions please. ...
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would love it if you could give me your outlook on this questions please.
Assignment 2: (Worth 17 pts.) In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: "There is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as it ... engages in open and free competition, without deception or fraud." Required: In the space below (on the following page) Explain why you agree and/or disagree with this quote. There is no correct answer. This is an opinion piece. As a starting point for your discussion: Debate the merits of the shareholder-focused and stakeholder- focused philosophies of business management. There are likely three possible categories: 1. Those who believe that the purpose of a company is shareholder wealth maximization will tend to agree with the quote. 2. Those who believe that companies should serve the needs of a broadly defined group of stakeholders may disagree with the quote. And 3. Those who may argue that the shareholder-focused and stakeholder-focused philosophies of business management are not mutually exclusive. Your discussion should be at least one page in length (double spaced)
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