MODULE CODE: STRM075
MODULE NAME: Social Responsibility of Business
The Assignment Task
Write a critical review of Milton Friedman’s essay ‘The social responsibility of business is to increase its profits’
This is a widely-cited piece, often used by advocates of corporate social responsibility to persuade us of the weakness/irresponsibility of the shareholder model of capitalism. It is advised that you read the original version of the Friedman text (see the reading list for article details/reference).
You might like to think about:
- What Friedman is trying to persuade us to accept/reject?
- What sorts of arguments he uses (does he argue from first principles; does he use empirical evidence; what criteria for judgement does he use?)?
- Are his arguments ethically consistent, and persuasive enough?
- Do they stand the test of time, or have circumstances changed?
- What alternative perspectives are there to Friedman’s?
- To what extent do these alternative views provide more comprehensive and/or ethically consistent approaches to sustainable business practice?
Your answer should not exceed 2500 words, not including the reference list.
The learning outcomes that are being assessed in this assignment are:
- Showcase extensive comprehension of the range of businesses’ responsibilities and the CSR imperative to create positive impact (social value)
- Evidence originality in the integration and application of appropriate models and techniques in analysing the responsibility of firms for their impact on society.
- Critically analyse and evaluate dilemmas faced by business organizations in confronting their corporate responsibilities.
- Articulating effective evidence-based arguments in writing
Your grade will depend on the extent to which you meet these learning outcomes in the way relevant for this assignment. Please see the grading rubric at the end of this assignment brief for further details of the criteria against which you will be assessed.
The maximum word limit for this assignment is 2500 words
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