Question

The classical view of organizational social responsibility is that management's only social responsibility is to maximize profits. A)True B)False

Answer 1

The classical view of organizational social responsibility is that management's only social responsibility is to maximize profits.

Step-by-step explanation:

The statement that management's only social responsibility is to maximize profits is consistent with the classical view of organizational social responsibility. According to this perspective, put forward by economist Milton Friedman, the primary goal of management is to increase profits for shareholders. Friedman argued that managers have a fiduciary obligation to act in the best interests of shareholders and that government should be responsible for imposing regulations to prevent businesses from causing harm to society.