College Of Arizona International Campus
Those legally prescribed duties are a reflection of the truth that managers are managing other individuals’s cash and have a moral responsibility to behave as a responsible agent for the house owners. Friedman emphasised the primacy of this obligation in his writings about companies and social duty. As to the third question, whether firms can “have” virtues or values is a matter of vigorous debate. A corporation is obviously not the same as an individual. But there appears to be rising settlement that organizations do differ of their practices and that these practices are value driven. If all a company cares about is the underside line, different values will diminish or disappear. Quite a few books have been written in the past twenty years that emphasize the need for businesses to outline their values to be able to be aggressive in at present’s world financial system.
But the difficulty in most of those cost-profit analyses is often put completely by way of money and directed to the advantage of the person or organization doing the evaluation and not to the advantage of society as a complete. There are a number of nicely-respected ways … Read More