What
is the Social Responsibility of Business?

   In my
opinions the main responsibility of the business is to establish a good
reputation in the society they operate in. Add to this it is extremely
essential to establish a good reputation in their prospective Markets hence they
will make a Pride for their Products or Services. In return consumers will be
attracted towards to them which will increase their sales and revenue. Add to
this, it is also important to come up with creative Ideas and Brands to keep on
attracting their Customers. Be responsible to ensure that your Product or
Services are tested before for Quality Assurance so it does not go any bad for
the consumers. Ensure to contribute to other Philanthropic activities within
the community. Build great working relationships with your employees and
provide them with Great Salary and Compensation. So, they remain motivated to
work this increases productivity. Employee as a person wants to be recognized
which satisfies them emotionally. Provide further education and trainings in
order for their employees to be up to date with the competitive workforce.
Also, any business needs to look ahead and invest in Market Research &
Product Development. This is essential to compete and be ahead of our
competitors. This allows your business to grow furthermore.

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Finally,
in light of available evidence. Outline whether you agree with Friedman. Why or
Why not?

   I totally
agree, since many influential business owners and corporate executives have
made decisions which have only favour profits but not the people or the
environment. Companies have made management policies which have caused to lower
employee salaries and made cutbacks on their compensation. Meanwhile they only
look forward to increase their business profits but they make their employees
do more hard work for much lesser amount. As a fact they look forward to get
some things done overseas to save upon labour costs hence creating more
unemployment at one place. Companies often save their capital on benefits by
hiring on Contract but not as Permanent Workers. Also, big company executives
earn a lot more than the average employee. The big companies also tend to bribe
government officials for government contracts and public tenders. Big Politicians
also happen to be company executives or shareholders as well in many instances
so they would hide taxes and make policies which increase their profits. This
may not be in the best interest of the people. We have noticed that big
Corporations or rich executives also not pay as much taxes as they should. This
is just immoral since they also use up the same amount of resources as other
people. Companies have also found guilty of Child Labour and Slavery for
Production of Goods, this is just done for maximizing business profits and
minimizing business costs. They keep their interest first and they could care
less for customers and employees. 

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