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In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: there is one and only one social responsibility of business -
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 profit so long as it .... engages in open and free competition, without deception or fraud." Ed Freeman in 1984 introduced the concept that business must not operate solely for the profits to be earned by shareholders but in the best interests of a broad range of stakeholders including customers, employees, suppliers etc. Discuss your position in this argument. Locate the website of any company that publishes corporate social responsibility reports (may also be referred to as a sustainability report). Describe three nonfinancial performance measures included in the report. Why do you think the company publishes this report?
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