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| Topic: |
Business
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| Number of pages / Number of words: |
12 / 3115 |
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Friedman pointed out that if people’s social responsibilities were imposed on a business corporation; this business is then encumbered or even blocked from making profit. He gave an appropriate example in his article, that corporate executive may find himself responsible in preventing inflation so he restrains the price of their products from increasing in order to contribute to the society, however, this action would undoubtedly impairs the organisation since a price increase is always the best interest for business, the less profit making reduces the returns to stockholders due to his own responsible feeling to the society, maybe we could say in other words, that he is spending someone else’s money, or the corporation’s money to fulfil his own little sense of responsibility...
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Therefore, Friedman believes that business should have only one social responsibility (profit making) since it almost means everything for a business, and then the rest are all redundant for corporations; otherwise, it will cause serious hardships. In Hong Kong, business is not famous for ethical concerns...
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