Do corporations exist only to serve the interests of shareholders?

Milton Friedman declared “there is one and only one social responsibility of business–to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”

For your reaction/application paper, address the issue of whether or not corporations exist only to serve the interests of shareholders. What is the nature and extinct of business social responsibility. What are some of the complexities involved which have an impact on decisions(s). And please clearly discuss and analyze the ethical implications of managerial behavior, decisions and the concept of social responsibility issues, especially ethical dilemmas.

You should address the issue from the four major sources of ethical values in business as noted in the Jennings text, i.e. Law, Culture, Philosophy, and Religion. It may help you by focusing on a chapter topic, e.g. Chapter 5: Corporate Social Responsibility, Chapter 9: Business in Politics, Chapter 11: Multinational Corporations, or a Part of the text – for example, Part Six: Corporations and the Natural Environment.

Your reflection/application papers should be no less than six (6) pages, not including your title page and references or works cited page. Please refer to the ‘General Guidelines for Your Reflection/Application Papers’. A copy is attached to this announcement.

I am looking for a researched, thoughtful, and well written analysis. As we have discussed several times in class, your paper should include things that you have learned in the other classes that you have taken at Saint Xavier University, not just our class and not just your business classes. For example, you should include information that you learned in religious studies courses, science courses in biology and chemistry, psychology, etc. To reiterate, you should address the issue from the four major sources of ethical values in business as noted in the Jennings text, i.e. Law, Culture, Philosophy, and Religion.

VIDEO LINK:

https://www.youtube.com/watch?v=XWNol3TxvtI&feature=youtu.be