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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Short paper 3

Short paper 3

Q What social responsibilities do corporations have? Is it true, as Milton Friedman argues, that the only responsibility of a corporation is to make a profit for its shareholders? If so, how does the corporation fit into the larger moral structure of society? If it is false, how does a corporation exercise its social responsibilities while still fulfilling its obligations to its shareholders? In particular, consider how these questions of social responsibility shed light on the actions of the executives at Enron.

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Corporations are big entities that are independent to make their own decisions of growth and prospect within an economy. Only that a lot of social responsibility is vested upon their shoulders as they are to uplift the society in which they are operating. They always have that moral obligation of securing the future of all social elements that are directly or indirectly connected to it. But how does it do that?