The classical view of social responsibility is that management's only social responsibility is ________.
A)to follow government dictates
B)to maximise profits
C)to not concern itself with pollution
D)to meet industry quality standards
E)to meet the requirements of all stakeholders

Question

Quizplus · Accepted Answer

The classical view of social responsibility, espoused by economist Milton Friedman, argues that the only social responsibility of businesses is to maximize profits, as long as they do so within the boundaries of the law and ethical custom. This view sees any diversion of resources towards social or environmental concerns as taking away from a firm's primary purpose of generating profits for its shareholders.

The Classical View of Social Responsibility Is That Management's Only