This article by Friedman on the business social responsibility reject the notion that cooperation owe anything to the public

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This article by Friedman on the business social responsibility reject the notion that cooperation owe anything to the public. He suggest that the business men’s responsibility is to the stakeholders and to serve their interest, which is make create value. Friedman does not agree with business the notion of cooperate social responsibility act, as long as the business follows the legal requirement and doing business in the right way. What I found interesting in this article is how Friedman (2011) state that corporations acting of self-interest is the best interest of everyone. Making as much money possible for shareholders leaders to a good social environment
If businessmen are civil servant rather than the employee of their stockholders then in a democracy they will sooner or later be chosen by the public techniques of election and appointment: therefore by holding corporation for the social welfare, then they are no longer business people but become civil servant (De Wit 2017). Such as in order to receive tax breaks corporations are required to invest in school. Hence taking away the private sector and making it public
Eventually all decisions making will be done by the government, which takes away the freedom to do business in your own way as long business follow the rules. Friedman’s argument is that once you start to limit individual liberty, then you treating businessmen people as civil servants which can be seen as a threat to freedom. Another thing I found interesting is how the title is very misleading, because we aspect an account of how business as a whole are contributing to society, but that’s not the case.
What I found most difficult to agree with, was one point he make is that is that the primary responsibility of the executive is to the shareholder of the corporation, but not to society. Stakeholder are an importance part of the corporation they can make or damage the business (Frynas ; Yamahaki 2016) In order for a company to make profit it has to care for society, it has to make high quality products for customers to buy, care for its society, it has to treat employees well all they will live, it can’t pollute the environment or their brand will be ruined for example Marks and Spenser has an excellent for reputation for quality, and that leads to profit (Barry and Calver 2009). Profit is a byproduct not the end goal, instead businesses exist to save a purpose to make to make products that transform customer life for the better.

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