In contrast to Milton Friedman's argument, David Packard argued that ______.
A)businesses exist not only to make money but also to contribute to society
B)the sole purpose of businesses is to make money
C)businesses need not consider all stakeholders
D)shareholders are responsible for the larger community within which a firm operates

Question

Quizplus · Accepted Answer

David Packard argued that businesses should not only be concerned with making profits, but also with contributing to society. He believed that businesses have a responsibility to their employees, customers, and the larger community in which they operate. This view is in contrast to Milton Friedman's argument that the sole purpose of businesses is to make money for their shareholders.

In Contrast to Milton Friedman's Argument, David Packard Argued That