The purpose of business final edition
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What is the purpose of business
In the contemporary world, people are withnessing an increasingly advancement of economy. Under this situation, commence to pay more attention to think about the meaning of business. Some of them proposed that the only target to a company is producing more and more profit. Rest of people thought, company should carry their social responsibility at the same time. After reading several articles of different authors. I realized that people’s positions on this matters are different. I prefer to stand on the side of Milton Friedman which supports that "One and only corporate social responsibility is to increase profits within the scope of the competition rules(Friedman,1970)."
First of all, appreciate about my teammate Nida Shaikh’s reply. There are my response to his point of view. Nida said “I do believe profit and social responsibility go hand in hand because in order for a business to gain profit, it requires to build trust with its consumers”. I totally agree with that company should care about their reputation and build the trust with their customers. Because the trust could shorten the steps for them to screen products, and reduce their trial and error costs and risks. Therefor customer would prefer to choose the same products they have used and have a good user experience. It is an effective method to keep the consumers’ loyalty. On the other hand, Nida did not point out the relation between the trust and corporation’s social responsibilit 内容过长，仅展示头部和尾部部分文字预览，全文请查看图片预览。 n, M. “The Social Responsibility of Business is to Increase its Profits”. The New York Times Magazine, The New York Times Company. September 13, 1970
Visser, W. (2014) The failure of CSR 1.0. CSR 2.0: Transforming Corporate Social Responsibility. Heidelberg: Springer. Course Link. (pg 21-34)
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