1. Role of business in society
The primary goal and motivating force for business is profit. The aim is to make as large a profit as possible, thereby maintaining efficiency and taking advantage of available opportunities to innovate and contribute to growth. ... Many theorists have found Friedman's extreme laissez faire view of business responsibility to be untenable. ... Changing expectations regarding the social responsibilities of business have led to the emergence of a changing contract between business and society. ... If society grants a business the "license" to operate (representing one side of the contr...
- Word Count: 2501
- Approx Pages: 10
- Grade Level: Undergraduate