Ethics Paper Essay

01/10/2020

1346

Economist Milton Friedman stated that “the simply entities who are able to have responsibilities are individuals. A business are not able to have tasks. So the question is, perform corporate executives, provided they stay inside the law, possess responsibilities within their business actions other than for making as much money for their stockholders as possible?

And my solution to that is simply no, they do not.[2]” At present, this debate falls into the CSR, or perhaps also find out as the “Corporate Social Responsibility” talk points. In [7] Regards questions: “What is the business of business”? Should business attempt to fix social issues or should business basically exist to increase shareholder prosperity? My opinion is the fact corporations and public firms should concentrate on maximizing stockholder and shareholder wealth, when simultaneously depending on ethical rules. Further studying about Friedman’s conservative posture on business’ business, one can point out that Friedman is pretty positive which the social responsibility of a business and the primary focus of those who run the organization is to produce profit [6].

In business there is a multitude of different scenarios. These scenarios are rarely similar and of them requires different viewpoint, perspectives and methods of procedure. Is this the right approach? In the other standpoint, ethical problems should not be overlooked. As we approach towards an even more connected community, with social media slowly replacing mainstream media channels, wherever “green” is a word and technology of choice, where personal correctness is more important than the essence of the issue, moral mishaps can make into a marketing nightmare pertaining to corporations.

Although, in my opinion, a whole lot of ethical and moral issues will be overly filled with air there are some that must be taken into account, simply because directly relate with the business’ business: profits! In the world all of us live in I think it is good to say that corporations can easily still pursue good paths when pursuing a number of methods of cultural responsibilities. I wish to focus on 3 methods.

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