Your roommate argues that businesses should focus on the pursuit of profits. Your roommate is prescribing to which view of corporate social responsibility?

Question

Social Studies

Ozzy

20 September, 06:16

Your roommate argues that businesses should focus on the pursuit of profits. Your roommate is prescribing to which view of corporate social responsibility?

+5

Answers (1)

Know the Answer?

Amina Blankenship · Answer 1

Classical view of corporate social responsibility.

Explanation:

The classical view of corporate social responsibility is explains that business should literarily focus on profit.

This notion was made known by Milton Friedman, which was a renowned economist. He explained that, in this aspect, the aim of the social responsibility of business is to maximize profits.

This means that the managers should run the business based on the distribution of products and services to society, which in turn will create economic value and generate profit for the owners or shareholders.

In this sense, the roommate is prescribing the classical view of corporate social responsibility.