22 Questions
What is the primary focus of corporate social responsibility according to Friedman's view?
Increasing profits for the owners
What is the main difference between CSR and discretionary social initiatives?
CSR is concerned with goal attainment within the law, while discretionary social initiatives go beyond legal requirements
According to McWilliams and Siegel, what is the critical aspect of CSR that is often overlooked?
The organization's achievement of goals within the law and ethical standards
What is the basis of Friedman's categorical statement about a business's social responsibility?
The primary goal of businesses to make profits for their owners
What is the restricted view of CSR that is criticized in the text?
CSR as the actions of organizations based on a sense of goodwill towards the community
Who argued that the primary social responsibility of a business is to increase its profits?
Friedman
What was the focus of the protests by students in over 40 universities in 2005?
The unfair labor practices of companies in Asian countries
What is an example of commutative justice in the context of a company?
Increasing the salary of employees to match the company's profits
Why can't small non-profit sport organizations engage in large-scale social initiatives?
They have limited resources
What is the limitation of a company donating huge sums of money to a sports club?
It may not address the underlying unfairness in the company's practices
What is the key issue in the distribution of millions of dollars raised by a professional sport franchise or an American university in a single game?
The revenue is not distributed fairly among all individuals involved
What did Dan Price, the founder of Gravity Payments, do to exemplify commutative justice?
He raised the salaries of his employees to $70,000
What is the primary social responsibility of a business, according to Milton Freedman?
To make a profit
What is the main distinction between social responsibility and social initiatives?
Social responsibility is related to the core business of the organization, while social initiatives are not
According to Archie Carroll, what are the four primary responsibilities of an organization?
Economic, legal, ethical, and social responsibilities
What is the ultimate goal of an organization, according to Milton and Carroll?
To create a profitable business
Why is it important for organizations to rectify mistakes and compensate for harm caused to others?
To fulfill their social responsibility
What is the relationship between goal attainment and social responsibility?
Goal attainment is a social responsibility in itself
Why is it important for organizations to avoid harming others in the process of achieving their goals?
To fulfill their social responsibility
What is the difference between social responsibility and social initiatives in terms of their relationship to the core business of the organization?
Social responsibility is related to the core business, while social initiatives are unrelated
What is the primary focus of an organization's social responsibility, according to the paper?
Avoiding harm to others
Why do organizations undertake social initiatives?
To benefit society
This quiz explores the concept of Corporate Social Responsibility (CSR) from the perspective of Milton Friedman, a Nobel laureate in economics. It delves into the idea that a business's primary social responsibility is to achieve its goals, while also considering the importance of not harming others and rectifying mistakes. Test your understanding of this unique perspective on CSR.
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