PHI 361 Module 2

According to Milton Friedman in "The Social Responsibility of Business Is to Increase Its Profits," whether or not a company operates in a democracy is irrelevant to his view of corporate social responsibility.

False

Who is most often associated with the classical U.S. view that a corporation's primary purpose is to maximize profits for stockholders?

Milton Friedman

Friedman argues that corporate executives should not behave like civil servants because they have not been appropriately selected to do so.

True

Friedman equates the doctrine of social responsibility with what "fundamentally subversive doctrine"?

collectivism

Which of the following, according to Freeman, is a primary stakeholder?

customers

Freeman's Argument from Rights has what as its central claim?

if one person has a right to X, then every person has a right to X

According to Friedman, corporate executives spending corporate funds to aid in some social responsibility, beyond what is required to maintain profits, is like doing what?

imposing taxes

According to R. Edward Freeman in "Managing for Stakeholders," the Responsibility Principle:

is implicit in most comprehensive views of ethics

Which of the following, according to Freeman, is a secondary stakeholder?

media

Freeman's Argument from Character has what as its central claim?

stakeholder management asks executives to consider the character of their company