Reference no: EM132443459

The often-cited economist Milton Friedman (1962) argued that "few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible" (pp. 133-134). Friedman's influence has been far reaching in the fields of business and economics, and is important to understand in terms of the evolution of corporate social responsibility (CSR).

Instructions:

Address the following in a well-written paper:

• Formulate two cogent arguments, one in support of Friedman's assertion and one against it.
• Research two organizations, one that exemplifies Friedman's exhortation for companies to focus only on stockholder wealth and one that believes CSR is an integral part of an organization's competitive advantage and success. Compare and contrast the two organizations.
• Provide three examples of organizations that show how Friedman's admonition, above, if taken literally, could be used to legitimate otherwise unethical behavior.

Requirements:

• Include three scholarly articles that are not required or recommended readings in this course to support your paper.
• Your paper should be between 4-6 pages, not counting the title and reference pages, which you must include.
• Your entire paper, including in-text citations and references, must be formatted according to APA.

References

Friedman, M. (1962). Capitalism and freedom. Chicago, IL: University of Chicago Press.