Question

Which statement is MOST correct in terms of the textbook presentation of the public's expectation of business regarding corporate social responsibility?

Answer 1

According to Friedman's essay, businesses have a moral responsibility to increase profits as their social responsibility. This emphasizes the importance of maximizing financial returns for shareholders.

Step-by-step explanation:

In terms of the textbook presentation of the public's expectation of business regarding corporate social responsibility, a statement from Friedman's 2007 essay on the social responsibility of business stands out. Friedman argues that businesses have a moral responsibility to increase profits. He asserts that individuals acting on behalf of a firm should make decisions that result in profit growth. This perspective emphasizes the importance of maximizing financial returns for shareholders.businesses have a moral responsibility to increase profits as their social responsibility. This emphasizes the importance of maximizing financial returns for shareholders.