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BU111 (655)
Lecture

Business Ethics and Social Responsibilities everything on the ethics of business and the social responsibility of firms in the community

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Department
Business
Course
BU111
Professor
Jim Mc Cutcheon
Semester
Fall

Description
L10BU11112102011Social Responsibility of BusinessThe Traditional ViewpointViewpoint Espoused by economistsprimary function of any business is economic not socialMilton Freidman Noble Prize winnerTo produce efficiently and maximize profits in a marketplace regulated by the forces of supply and demandhigh profits allow business to expandprovides jobs income to employees shareholders suppliersprovides more tax revenue to governmentThis view suggests that the social obligation of business should involve only four thingsThe creation of employmentthe creation of incomethe payment of taxesadherence to the lawwhen business does all these things well society winsit is the governments responsibility to deal with social issuesArguments Supporting the Traditional ViewpointMoney spent on s
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