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An Ethics Role Playing Case Stockholders Versus Stakeholders Form

An Ethics Role Playing Case Stockholders Versus Stakeholders Form

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It was Milton Friedman, the famous nobel prize winning economist, who once said there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game. Friedman's comments characterize one of two perspectives related to business social responsibility. On one hand we know that the primary objective of a business is the attainment of profits. But does that mean that profits are the only factor that business managers should consider when making decisions? Before we go into greater detail on the different perspectives related to social responsibility, lets define the term. Social responsibility can be defined as a businesses obligation to make decisions that ultimately benefit society. The issue that I'm sure you're beginning to realize, is how does a business engage in actions that benefit everyone? This is a very difficult task, however business m

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