What is the implication of Friedman’s viewpoint vs. the more modern thinking as expressed by CEOs such as Jack Welch?

Friedman vs. welch | Enterprise & Finance homework assist

The implications of Milton Friedman’s view of company social accountability, which states that an organization’s sole goal is to maximise earnings for its shareholders, are very totally different from the extra fashionable considering expressed by CEOs equivalent to Jack Welch. This newer faculty of thought means that firms ought to be targeted on creating worth not only for their shareholders, but in addition for society as an entire. This entails making an allowance for the moral and environmental impacts of enterprise practices whereas nonetheless striving to maximise earnings. As such, this shift in perspective has resulted in companies changing into extra socially acutely aware and taking a look at methods they will contribute positively to the world round them.

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