Philosophy Assignment, NUS, Singapore: Identify and describe the corporate responsibility view that was advocated by Milton Friedman
University | National University of Singapore (NUS) |
Question.
Identify and describe the corporate responsibility view that was advocated by Milton Friedman.
ANS
Milton Friedman, a Nobel Prize-winning economist, advocated a corporate responsibility view known as the shareholder or stockholder theory.
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
Friedman’s perspective on corporate responsibility is rooted in the principle that the primary responsibility of a business is to its shareholders, who are the owners of the company. According to Friedman, the primary goal of a business is to maximize shareholder wealth through profit generation within the bounds of legal and ethical standards.
Key features of Milton Friedman’s corporate responsibility view:
- Profit Maximization for Shareholders:
- Friedman argued that the main purpose of a business is to generate profits for its shareholders. He believed that businesses should focus on their economic role and strive to increase shareholder wealth by efficiently producing goods and services.
- Limited Social Responsibility:
- Friedman was critical of the idea that businesses should take on social responsibilities beyond profit generation. He asserted that corporate executives, as agents of the shareholders, should prioritize economic considerations and refrain from engaging in activities that detract from the company’s financial goals.
Buy Custom Answer of This Assessment & Raise Your Grades
- Friedman was critical of the idea that businesses should take on social responsibilities beyond profit generation. He asserted that corporate executives, as agents of the shareholders, should prioritize economic considerations and refrain from engaging in activities that detract from the company’s financial goals.
Elevate your understanding of Philosophy with our specialized assignment help in Singapore service. We also offer top-notch dissertation help in Singapore for students seeking comprehensive support. Singapore students can confidently pay our experts for tailored assistance, ensuring excellence in their philosophical studies. Trust us to guide you towards academic success and unlock your potential in philosophy assignments.
- MNGT2002 Feasibility Study Assignment 1: Case Analysis of New Venture Innovation and Market-Technical Viability
- Cost Accounting Assignment 2: Lasani Ltd, Lurve Prints & Livia Ltd Case Study on Marginal Costing, Overheads, and Process Costing
- Ethical Business Practices Assignment : Urban Rampage Case Study on Retail Conduct in Remote Communities
- Tax Avoidance Strategies of Multinational Corporations Assignment: An Analysis of Corporate Behaviour and Regulatory Challenges
- Tort of Negligence Assignment 3: Legal Analysis of Kris and Kevin’s Intersection Collision
- A2439C Clinical Laboratory Methods Assignment: Antibody Assay, Test Evaluation & Risk Assessment
- Business Management Case Study Assignment: Fresh Delights Expansion Strategy & Analysis
- A2379C Audit Assignment Report: CAPA & GDP Compliance for Pharmaceutical Distribution Audit Findings
- COM306 Critical Analysis Assignment Report: Public Education Campaign on Health, Safety or Environment
- Family Law Assignment : SUSS TMA02 Case Study on Marriage, Divorce, and Inheritance Disputes
UP TO 15 % DISCOUNT