Stanford Encyclopedia of Philosophy. Stanford University, 27 July 2011. Web. 1 Dec. 2011. .
He advocates that a businesses function is to make as much money as possible in any and every way, as long as the rules o... ... middle of paper ... ...etely different things into the same economy, instead we should compromise into another type of economical system that can have a social conscience and still manage to make a profit. Recently many companies have had their unethical behavior uncovered and this placed doubt in the minds of many. Capitalism and ethics cannot truly exist together because in capitalism there can be no control and ethics as a form of control. In capitalism Greed is the number one priority in capitalism and ethics cannot sidetrack this priority. Although over the years business ethics and capitalism seemed to have coincided one cannot conclude that the two can coexist because of the many kinds of unethical behavior takes place in our capitalist economy, much of which is still hidden.
Max Stirner. Stanford Encyclopaedia of Philosophy. Retrieved 11th July, 2010, from http://plato.stanford.edu/entries/max-stirner/ Mill, J. (n.d). Utilitarianism.
Stanford Encyclopedia of Philosophy. http://plato.stanford.edu/entries/realism/ (accessed May 27, 2011).
Englewood Cliffs, NJ: Prentice Hall. Sinnott-Armstrong, W. (2003, 5 20). Stanford Encyclopedia of Philosophy. Retrieved 3 15, 2011, from Consequentialism : http://plato.stanford.edu/entries/consequentialism/ Taliaferro, C. (2010, 4 27). stanford Encyclopedia of Philosophy.
February 29, 2004. http://www.rep.routledge.com/article/DB047 La Filosofia en el bachillerato. 2001-2011. http://www.webdianoia.com/moderna/kant/kant_bio.htm The Eauropean Graduate School. 1997–2010. http://www.egs.edu/library/immanuel-kant/biography/. Standford Encyclopedia of philosophy.
In their eyes what we don’t know won’t hurt us, but in actuality it does In Friedmans “The Social Responsibility of Business is to Increase its Profits.” Friedman argues that the manager is an agent of the shareholders, responsible mainly for the profit they seek, and for following the rules of society, being both legal and ethical, meaning they there is no fraud or coercion and there is free competition. He considers the talk of “social responsibility of business” to be misguided, indicative of a trend toward socialism. He argues that to decide to sacrifice profit for some collective social good is to, in effort, collect taxes and decide how they are to be spent, which is reserved for the political process. Non-elected company managers should not be doing this. In business, Friedman believes, people do what they choose to do, while in politics the majority rules.
The Evolution of the Corporation The Evolution of the Corporation In a capitalist society where the growth and power of corporations are ever evolving it is critical to determine the effects and consequences this evolution brings upon the business world. The Stockholder Theory maintains that managers should act merely as agents to the stockholder and only serve their interests-the maximization of profits (45). Milton Friedman's argument being, they are the owners of the business, and hence they should be entitled to all profits (45). Although this simple profit-motive concept may achieve the desired result, and address all of the interests of the stakeholders it lacks compassion that is so prevalent, and in my opinion superior, in the following theory. In Edward Freeman's A Stakeholder Theory of the Modern Corporation he suggests a transformation of the corporate system by replacing the notion that managers have a duty to stockholders with the concept that managers bear a fiduciary relationship to stakeholders (56).
Porter along with Mark Kramer. In this article, the authors emphasize on the importance of creating shared value on the strategic level of an organization vs corporate social responsibility which is viewed a separate moral obligation for the sake of company’s reputation and making profits. According to the authors, shared value must be embedded into the core value and strategy of business. What the authors of the article are implying is that awareness of social economic challenges is growing making them clearly visible. Businesses and their legitimacy are now viewed as part of the problem.