Rethinking the Social Responsibility of Business Essay

John Ferguson BMGT 2216 Rethinking the Social Responsibility of Business The ethical issues presented in this case are the different views that each individual has on how the idea of corporate social responsibility (CSR). This dispute is between Mr. Milton Friedman, John Mackey, and T.J. Rodgers; all of which has a different outlook on CSR. The definition of CSR refers to the responsibilities that business has to the society in which it operates and to those actions that a business can be held accountable. Most philosophers have come up with three different types of responsibilities that corporations can be held accountable for. The first and most important of the three is a corporation’s duty to not cause harm. If a corporation can†¦show more content†¦He has put together a mixture of both the Social Web Model and the Integrative Model in his own business model for Whole Foods. Mackey has put both economic and social goals at the core of his business and at the same time is considering all of the stakeholders that his decisions will affect. In the reading John Mackey said â€Å"we measure our success by how much value we can create for all six of our most important stakeholders: customers, team members, investors, vendors, communities, and the environment.† (pg. 232) It is easy for me to relate to Mackey because if I owned a business I believe I would have a similar thinking process. Also a bonus to being socially responsible is the fact that it increases the business’s image and brings in more customers. This is where Friedman and Mackey have similar ideas. They both believe that being socially responsible will in effect generate more revenue and profit in the long run, but the difference is that Friedman is only interested in pouring the money back to the investors. Because of this I would have to say that Friedman is following a Philanthropic model of CSR. Friedman thinks with an economic model of CSR driving his motivation, but he will also do anythi ng to create profit; even if that means using social responsibility as a means to an end. Friedman probably uses reputation management to build his image as a company solely because he thinks it is a good business decision and not because he genuinely caresShow MoreRelatedThe Social Responsibility of a Business647 Words   |  3 Pagesï » ¿The Social Responsibility of Business: The role of business in the society became a major aspect across business after Milton Freedman wrote the most provocative article in 1970. As an economist, Freedman stated that the main purpose of businesses is to generate profits for its shareholders. 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