Business Ethics and Sustainable Management

Shareholder Theory: Traditional

The social responsibility of a business is to increase its profits - Milton Friedman 

• Friedman argued against the notion of social responsibilities for corporations based on three main arguments:

- Only human beings have a moral responsibility for their actions 

- It is managers responsibility to act solely in the interests of shareholders 

- Social issues and problems are the proper province of the state rather than corporate managers.

Stakeholder Theory: Contemporary

The…