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This 6 page paper argues that businesses must be socially responsible, and those that are, are frequently more profitable than those that are not. Bibliography lists 3 sources.
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6 pages (~225 words per page)
File: D0_HVSolRes.rtf
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Use non-polluting technologies? Use only sustainable resources in their manufacturing processes? Remain sensitive to the needs and concerns of their multicultural workforce? All of these together? Or none of them?
This paper tries to narrow it down and argues that businesses do indeed have a duty to be socially responsible. Discussion The late Milton Friedman once said that "there is
one and only one social responsibility of business--to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the
game" (Rethinking the social responsibility of business, 2005). That is, "the only social responsibility a law-abiding business has is to maximize profits for the shareholders" (Rethinking the social responsibility of
business, 2005). John Mackey, founder and CEO of Whole Foods Markets, strongly disagrees, and provides a solid rationale for businesses being socially responsible. He says that he believes "the enlightened
corporation should try to create value for all of its constituencies" (Rethinking the social responsibility of business, 2005). From the perspective of an investor, the companys business is to maximize
profits, but that is not what other groups want from the organization: "customers, employees, suppliers, and the community. Each of those groups will define the purpose of the business in
terms of its own needs and desires, and each perspective is valid and legitimate" (Rethinking the social responsibility of business, 2005). Mackey says that he is not averse to
making a profit; indeed, he is head of a very successful company. But Whole Foods has not prospered by "making shareholder value the primary purpose of our business" (Rethinking the
social responsibility of business, 2005). Mackey draws an analogy from his marriage, saying that his wifes happiness is an end in itself, "not merely a means to my own happiness";
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