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Homer-Dixon it. Regarding profit maximization, he agrees with Friedman,

Homer-Dixon announces his access
to define which is social responsibility in business.

He illustrates that many of organizations be unsuccessful
due to the fact that they manipulated resources. He shows an example of
evidences that small events in the world can have a profound impact on the
entire society and environment. Homer-Dixson suggests that society needs to set
for the impact which these things could bring. He also says that these
organizations should be prepared for overall changes. Especially,
Homer-Dixson stresses that the organizations have to be ready to adapt to the
structural stress that will occur. He also presents that this structural stress
can have a significant impact on the organizations and that higher management
has a responsibility to control it. Regarding profit maximization, he agrees with
Friedman, and he says that “his approach is not suitable for private companies
that seek profit alone”. He concludes that the organizations as a society will
change and adapt for the benefit of the environment and society.

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            Conversely, Milton
Friedman claimed that the only social responsibility of the business is to
raise profits. He applies different examples via the article to back up his arguing.

Friedman shows widely about company’s higher management and explains how they
always have an employer’s responsibility to create as much money as possible
while being cleave to fundamental social rules. Also, Friedman discusses how
only shareholders can focus their money. He elucidated that shareholders would
try to contribute to a customer, other shareholders or employees against their “social
cause” to maximize profit. In addition, Friedman explains that if a business
succeeds, it would levy taxes and spend profits. While conducting company’s
duties for its own advantages, “Social Responsibility” is a great reasonable
way for a business to make kindness. Friedman refers to a quote from his book
and concludes this article, “the only social responsibility of a business is to
have participated in activities purposed to expand profits as far as they use
resources and remain within the rules of the game. They are a free completion without
fraud or deceit, and engaged in open.”

            I am a person who oppose
Freidman’s argument. Of course, maximizing profit is one of the most important
factor in business. However, corporate social responsibility is considered more
important than maximized profits. Successful companies often enhance their
corporate value by improving their ethical management practices that promote
social responsibility, securing transparency in management and enhancing
management. As a result, these ethical management further enhances corporate
reputation. For example, if you look at the most successful companies today,
you almost see that revenue growth is secondary to other goals.

In addition, corporate social responsibility can take care of the
surrounding environment and society and adapt to change, so businesses continue
to respond to what they want.

 

 

 

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