Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The article by Camenisch and Duska,echoing Robert C . Solomon's perspective, challenge the idea that the ultimate aim of business should be solely to

The article by Camenisch and Duska,echoing Robert C.Solomon's perspective, challenge the idea that the ultimate aim of business should be solely to " make as much money as possible," as famously asserted by economist Milton Friedman. But according to me or keeping the moral values or ethics in mind the purpose of business should be beyond profit making. The approach should be more ethical, moral, social and environmental implications of business actions.
Ethical considerations- Camenisch and Duska argue that business should operate more ethically and responsibly, taking into account not only their financial interests but also the well being of the stakeholders including customers, employees and community.
I
Social Responsibility- The actions of an operating institution should be positive to the society that is the business should be having a social responsibility towards the environment and the society.
Long-Term perspective- The authors suggest that focusing solely on short-term profit maximizing can be detrimental in the long run. Instead business should consider the long term consequences of their actions and investments including reputation and sustainability.
Stakeholders Oriented approach- Both the authors advocate for a stakeholder
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Small Business Management Entrepreneurship and Beyond

Authors: Timothy s. Hatten

5th edition

538453141, 978-0538453141

More Books

Students also viewed these General Management questions