Milton Friedman famously stated, “The social responsibility of business 

Milton Friedman famously stated, “The social responsibility of business is to increase profits”. Do you agree with his assessment of corporate social responsibility? Use relevant CSR and Business Ethics theories to illustrate your argument.

Milton Friedman famously stated, “The social responsibility of business

 Answer TWO essay questions out of eight

1. Firstly, Word count for each essay is 1000 words.

2. Secondly, Each essay carries an equal mark of 50.

3. This is an exam and you do not need to insert a list of references at the end of the essay, however, in-text referencing is advised as in any piece of academic writing: Friedman (1970) famously stated that “the social responsibility of business is to increase profits” or Neoconservative economists have maintained that the primary responsibility of business is to increase its profits (Friedman, 1970).

4. How do I structure my short essays?

Usually when we write an essay, one paragraph is roughly 200 words. This means in total for each essay, you can write up to 5 paragraphs within the 1000 word limit. Secondly, Writing styles are different and I always encourage students to find their own voice and position against the essay question. So, the structure outlined below is just an example, and you can use different structures as long as you stay within the 1000 word limit per essay.

Paragraph 1: Firstly, Write a brief introduction in which you state how you are answering the question and what arguments you are making in your essay. Secondly, Some students find it useful to unpack the essay question and to identify key concepts or themes that are relevant to answering the essay (which are further developed in paragraphs 2-4). Lastly, Use referencing and citations to tell the reader what frameworks or perspectives you are working with.

Paragraphs 2-4: This is where you outline your arguments. Integrate more than one perspective or framework so you can compare and contrast different ways of looking at the same issue. Use referencing – both academic and real business case studies if you feel this is appropriate. If using a case study, make sure you use it to provide evidence of something or you use it to challenge an assumption that is either theoretical or practice-based.

Paragraph 5: Finish off your short essay with a brief concluding paragraph – try not to repeat yourself or summarise what you have stated in paragraphs 2-4. Instead, use the conclusion to clearly state your answer to the essay question and to pose any limitations or emphasise critiques you are making.

Question 1

Milton Friedman famously stated, “The social responsibility of business is to increase profits”. Do you agree with his assessment of corporate social responsibility? Use relevant CSR and Business Ethics theories to illustrate your argument.
[50 marks]

Question 2
What is the value of ethical theories to the corporate sector? Illustrate your argument with two or more ethical theories, including non-traditional ones. [50 marks]

Question 3
“Managers can make ethical decisions”. Discuss in relation to Kohlberg’s and Trevino’s decision-making models. [50 marks]

Question 4

Can corporations be socially responsible if their ownership model prioritises shareholders? Include an assessment of the principle-agent relationship and use one case study or more to illustrate your answer. [50 marks]

Question 5
How important are workers’ rights in the liberalising global economy? Answer the question by drawing on relevant CSR theories and illustrate your essay with recent examples of workers’ rights issues in the USA and UK. [50 marks]

Question 6
Can ethical consumerism contribute to more ethical businesses?  [50 marks]

Question 7
Why are global supply chains responsible for growing inequality in the world? Illustrate your essay with reference to the international Fairtrade paradigm and local industrial eco-systems. [50 marks]

Question 8
Will capitalism fall this century? Reflecting on the climate crisis and on relevant business case studies, provide an assessment of capitalism’s sustainability in an era of environmental catastrophe. [50 marks]

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