Q Submit responses to the following Cases/Readings by Sunday at 11:59 p.m.: • Reading 3.1 • Reading 3.7 • Case 3.14 • Case 3.18 Reading 3.1 1. How does Dr. Friedman characterize discussions on the “social responsibilities of business”? Why? 2. What is the role of a corporate executive selected by stockholders? 3. What analogy does Dr. Friedman draw between trade union wages and corporations’ decisions based on social responsibilities? Reading 3.7 1. Does Friedman’s position blend across categories? 2. Suppose that a piano company was known for use of mahogany wood in its grand pianos. However, increasingly, in Brazil and Peru, the harvesting of those woods is restricted because of programs to preserve the rain forests. What options could the company explore in dealing with this issue? If they voluntarily changed the wood but compromised their customer base and the sound quality, revenues would decrease. Should that choice be an option? How would those in the various schools of thought respond? Case 3.14 1. Make a list of all the ethical issues you see with the cruise line operations. 2. What benefits do the cruise lines gain by not being based in the United States? 3. Why do you think their profit margins are so substantial? 4. Describe Marjorie Kelly’s reaction to the wage levels and profit margins of the cruise lines. 5. Why is the ICCL active in self-regulation? 6. What changes could easily be made that would impose additional costs on the cruise lines? If you were an officer in a cruise line company, what voluntary steps would you take and why? Case 3.18 1. Who should be responsible for environmental issues and programs in a company, and why? 2. What is the difference between the environmental issues of thirty years ago and today’s issues? 3. Explain the examples of proactive behaviour given and why there was business benefit in those decisions and actions.