seems that by this statement he totally refutes the possibilities of corporate

Seems that by this statement he totally refutes the

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seems that by this statement, he totally refutes the possibilities of corporate social responsibility (CSR). But to say that profit maximization is the goal of business, does not imply that business never do good for community. ‘He (Friedman) does speak of social responsibility as requiring business to be concerned with promoting desirable social ends; goals such as providing employment, eliminating discriminations, avoiding pollution (Kotle & Lee, 2005:330)’. From Milton Friedman’s’ arguments, it seems that he additionally accept ethical customs as a social responsibility of business. Market is a bargain place of demand and supply. According to Adam Smith (1776), there is an ‘Invisible Hand’ in the market that play role to make decision about what goods and services
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Page 4 of 11 need to produce for the society. ‘Invisible Hand’ in the market transfers self interest into societal interest and society does satisfy their desires from business. Therefore corporations need to satisfy societal interests. THE FEATURES OF A SOCIALLY RESPONSIBLE COMPANY Social responsibility should at least suggest not harming society, acting in response to serious social problems and responding in the social significance. What types of social responsibilities corporation perform? Could corporation be able to perform social responsibility within the structure of a corporation? Who will define the social problems? We have a long discussion on arguments against CSR in the next section. Let us observe the features of a socially responsible company would have to: 1. Speak to climate change 2. Not sell goods which are basically harmful 3. Stop manipulating the public 4. Internalise costs 5. Pay taxes totally 6. Stop lobbying against the public interest 7. Democratise the workplace 8. Reduce consumption and limit growth But the unparalleled supremacy of corporations in recent decades, together with an informed and knowledgeable general public, has created a genuine threat to the legality of the corporation. Should we have faith in corporations to live up to their newly apparent values? Corporate social responsibility is a challenge in terms. Corporations are officially obliged to maximize profits to shareholders. This responsibility to make profit above all other issue means that corporations can only be 'socially responsible' if they are being insincere. CSR is a successful policy for: encouraging a corporation's public image; escaping rules; achieving legality and entrances to markets and ruling makers; and changing the ground towards privatization of public functions. CSR does not offer any sustainable results. It can simply be retreated if the economic situation changes
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Page 5 of 11 THE ARGUMENTS AGAINST CSR The argument against CSR goes to the observations that corporations do not deliver its promise.
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