Hasnae Benyaich
The Social Responsibility of a Business is to Increase Profit by Milton Friedman in the light of The Stakeholder Theory by Edward Freeman
In light of Friedman's understanding, we can without much of a stretch withhold his fundamental contentions in respect of corporate social responsibility. Friedman contends that the main obligation of a business is to make utilization of its potential asset for the sole purpose of expanding benefit. For him, staying aware of the capitalist principles of the business is an ethical need since it depends on free and fair competition. In addition, stakeholders are forcing corporate officials to provide an optimal financial situation of the company, regardless of social responsibility. Friedman contends that social obligation is not appropriated to companies but rather to people and in this manner a corporate official has a commitment toward partners, workers and clients; or else he will lose the power given to him. In particular, he trusts that each business ought to be viewed as an individual property and the flexibility to have a business is a social obligation in itself, in condition that it remains within the principles of the capitalist system. Friedman takes a gander at different examples where he considers social obligation an out of line task to a corporate official since it would be considered as another sort of tax collection. Regardless of the fact that the corporate official concedes to using such a methodology, the result can be losing the trust of his representatives and in this way his occupation.
Similarly to Friedman’s contentions through which he gives some sense as partners concentrate just on boosting their benefit and any conceivable costs that could hinder the growth will lead to future reluctance of backing the business they are financing. All these appear with some logic as long as we regard