Hot Spots in Business
Especially within the past ten years, businesses have seen significant demand for their business model to include a “give-back” program. Also known as corporate social responsibility (CSR) or social impact work, these programs are expected to address a social problem using business products, manpower, or revenues. For example, a company might use its resources to address unsafe parks in Salt Lake to poor access to water in rural Kenya. There is little disagreement on whether solving social issues is a good thing or not; the controversy is raised, however, in if business should be the means to do so. Milton Friedman, a highly recognized economist, argues that give-back programs go beyond the scope of what businesses should be. He states that “there is one and only one social responsibility of business to use its resources… [and that is] to increase its profits… without deception or fraud.” Anything beyond that, Friedman argues, is the wrong way to do a good thing. (See https://lucidmanager.org/milton-friedman-corporate-social-responsibility/.)
- Give-back programs
Especially within the past ten years, businesses have seen significant demand for their business model to include a “give-back” program. Also known as corporate social responsibility (CSR) or social impact work, these programs are expected to address a social problem using business products, manpower, or revenues. For example, a company might use its resources to address unsafe parks in Salt Lake to poor access to water in rural Kenya. There is little disagreement on whether solving social issues is a good thing or not; the controversy is raised, however, in if business should be the means to do so. Milton Friedman, a highly recognized economist, argues that give-back programs go beyond the scope of what businesses should be. He states that “there is one and only one social responsibility of business to use its resources… [and that is] to increase its profits… without deception or fraud.” Anything beyond that, Friedman argues, is the wrong way to do a good thing. (See https://lucidmanager.org/milton-friedman-corporate-social-responsibility/.)
