Unformatted text preview: -1David Warden 01/24/08 Philosophy 243 Section 020 Word Count 402 “The Social Responsibility of Business is to Increase Its Profits.” By Milton Friedman “Summary” What responsibilities does a company have to it’s employees and customers? The article is mainly based on this question. The first point that is brought to the reader’s attention is that a business isn’t based merely on profit but that a business has social values to uphold (p.51). Companies have a responsibility to the stock holders to make the most profit as possible while also upholding proper business etiquette. Accomplishing this is much easier said then done since there are three other main factors that must be considered. Starting with you must find a way to keep employees happy with good salaries and also providing them with good cheap benefits. Another factor is that you must keep your customers happy because without them it is impossible to run a profitable business. The last factor is one that ties in with the others, it is that you to run a profitable business....
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This note was uploaded on 04/09/2008 for the course BUSINESS E 242 taught by Professor Arnold during the Spring '08 term at University of Tennessee.
- Spring '08