Business Studies, asked by rusivarshan97, 8 months ago

2:
25. Milton Friedman stated his belief that there is only one social responsibility for a company to use its
resources to

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Answered by santoshirawat30232
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Answered by Anonymous
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Milton Friedman stated his belief that there is only one social responsibility for a company to use its resources to increase or gain profits so long as it abides within the rules and regulations of the game.

1. Milton Friedman inaugurated the theory in a 1970 article for The New York Times baptized "A Friedman Doctrine, that is, The Social Responsibility of Business is to Increase Its Profits".

2. In it, he has proclaimed that a company enterprise has zero social responsibility to the community, society, or public; its only authority is to its preferred shareholders.

3. In addition to that, the investigation guesses that company executives are very imperfectly equipped when it comes to validating social change.

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