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Friedman and Freeman (4 Questions + 3 Options)

Friedman and Freeman (4 Questions + 3 Options) - B usiness...

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Business Ethics Test 2 Review Friedman(Should not be involved with Social Responsibility) Who does a business have a responsibility to? Stockholders or Society? How do we See this corporation? Legal Definition of Corporation Private, profit-making collective venture People invest Stockholders appoint themselves and executives become agents Their interests are to make more $ within law What would happen if an executive would fill some corporate responsibility? Costing company money (supposed to be function of Gov’t) Problems that this Creates: Technical Executives are experts at making money and not running the country Business is the wrong medium to create social change due to possible social pressure Theoretical “Taxation without Representation” You elect gov’t officials = approval Violation of branches without checks and balances (executive all 3) Critique of Socialism Allocation of resources
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