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    04 Activity 23 PMI PDF

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    Banana Q
    The document compares Friedman's traditional view of social responsibility with Carroll's four responsibilities of business. Friedman's view is that a company's only responsibility is to its shareholders to maximize profits, while Carroll believes a business also has responsibilities to society, legal compliance, ethics, and discretionary responsibilities. The document recommends Carroll's approach, arguing that fulfilling social responsibilities while earning a profit will help a business achieve long-term organizational success through strong customer relationships and meeting societal needs.

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    04 Activity 23 PMI PDF

    Uploaded by

    Banana Q
    14 views2 pages
    The document compares Friedman's traditional view of social responsibility with Carroll's four responsibilities of business. Friedman's view is that a company's only responsibility is to its shareholders to maximize profits, while Carroll believes a business also has responsibilities to society, legal compliance, ethics, and discretionary responsibilities. The document recommends Carroll's approach, arguing that fulfilling social responsibilities while earning a profit will help a business achieve long-term organizational success through strong customer relationships and meeting societal needs.

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    04 Activity 23 PMI.pdf

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    The document compares Friedman's traditional view of social responsibility with Carroll's four responsibilities of business. Friedman's view is that a company's only responsibility is to its shareholders to maximize profits, while Carroll believes a business also has responsibilities to society, legal compliance, ethics, and discretionary responsibilities. The document recommends Carroll's approach, arguing that fulfilling social responsibilities while earning a profit will help a business achieve long-term organizational success through strong customer relationships and meeting societal needs.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    14 views2 pages

    04 Activity 23 PMI PDF

    Uploaded by

    Banana Q
    The document compares Friedman's traditional view of social responsibility with Carroll's four responsibilities of business. Friedman's view is that a company's only responsibility is to its shareholders to maximize profits, while Carroll believes a business also has responsibilities to society, legal compliance, ethics, and discretionary responsibilities. The document recommends Carroll's approach, arguing that fulfilling social responsibilities while earning a profit will help a business achieve long-term organizational success through strong customer relationships and meeting societal needs.

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    © All Rights Reserved
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    of 2

    BM1807

    Names Section
    Date

    P-M-I CHART

    Instruction: In the Interesting box, write down how each view contributes to achieving
    organizational success. In the My Decision box, write down your recommendation on
    the most effective approach that must be employed by global or local companies to
    achieve organizational success.

    Friedman’s Traditional View Carroll’s Four (4) Responsibilities of Business


    Plus (Advantages) Minus (Disadvantages) Plus (Advantages) Minus (Disadvantages)

    • The company will • This view believe that • It believes that a • It is likely that the firm will
    likely develop new business has no social business also has a only focus addressing
    and improve responsibility to the social responsibility to the needs of the society
    products that public or society; its only the society which helps than its stakeholders.
    increases profitability responsibility is to its addresses the needs of
    and return capital to shareholders. the society • Business may only
    shareholders. choose between ethical
    • Focus only on profit • One of its primary and discretionary part of
    • The company will maximization without goals is to survive while social responsibility, so
    able to maximize the thinking about ways to benefitting the society some aspect may be
    use of its resources benefit the entire firm. ignored
    and engages in profit • It promotes ethical
    generating • The business becomes and moral behavior • Only growing firms are
    operations. less efficient resulting to among its employees able to implement this
    price increases to pay kind of action because it
    • Have a goal to for the increased costs • It promotes needs large amount of
    engage in an open sustainability in budget.
    and free competition • The firm will not able to business
    without deception of recognize those indirect
    fraud connections that made • It set standard on how
    them successful. a firm should fulfill their
    social responsibility
    • It can harm the society.

    Interesting Interesting

    Friedman’s Traditional view of social Carroll’s four responsibility of business


    responsibility contributes to achieving contributes to achieving organizational success by
    organizational success by using its resources to fulfilling the social responsibility of the company while
    increase the company’s profit, which supports acquiring profit. For her, the maximation of profits is
    employment, wages, purchase, investments, and not the main obligation of successful business, rather,
    taxes. They don’t take burden from economic and a business should produce and service that value
    societal problems for they believe that it is the customer, hired and promote people based on
    government’s duty. So, they are able to focus government laws, to act based on prevailing ethical
    more on their main goal. The company is able to values and to voluntarily act for the society’s benefits.
    attain the most common goal - to earn profit.

    This study source was downloaded by 100000864622566 from CourseHero.com on 03-28-2023 06:44:47 GMT -05:00

    https://www.coursehero.com/file/169621743/04-Activity-23-PMIpdf/
    My Decision

    After a careful analyzation, I decided to choose Caroll’s Four Responsibilities of Business over Friedman’s
    traditional view of social responsibility. I believe that for a business to achieve organizational success, it must also
    fulfill its social responsibility as a growing firm. A business should not only focus on earning profit, but also think a
    way on how on how they can help the society, in terms of economic, legal, ethical and discretionary. Unlike
    Friedman’s belief, a business should give value to their customers who keeps on choosing their product, to the
    environment that provides their resources, the government that allows them to operate, and also voluntarily help
    charities and train unemployed people, which can be consider as an investment to their workforce. In this way,
    people will more likely build a strong and long-term relationship with the company. Earning profit while giving the
    needs of the society will encourage a customer to patronize the business. And this will surely lead to achieving
    successful organization.

    _ _ _
    04 Activity 2 *Property of STI
    Page 1 of 1
    _ _ _

    This study source was downloaded by 100000864622566 from CourseHero.com on 03-28-2023 06:44:47 GMT -05:00

    https://www.coursehero.com/file/169621743/04-Activity-23-PMIpdf/
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