The social responsibility of profits

The social responsibility of tune, Milton Friedman famously said, is to increase its profits.
Some predicate this view. Others condemn it. A more accurate interpretation reflects elemental principles behind free enterprise, profits and returns on investments.

Companies earn uniform profits and stellar reputations by providing matures, services and technologies that society needfully and values ? and do so legally, ethically, and by offering tiptop calibre, lower cost, greater reliability, outstanding customer c ar and other(a)wise benefits, while protecting the environment. They thereby stay in business and reward investors who made their innovations and products possible.

This is the most fundamental way companies are socially responsible - to employees, customers. It also ensures that businesses, officers, shareholders and employees have the financial wherewithal to draft in other activities that we recognize and applaud as good deeds on behalf of their communities.

BB&T Corporation of Winston-Salem, N.C., operates 1,500 branches, insurance agencies and financial services companies, with combined assets of over $125 billion. Its fundamental strategy, chief executive officer John Allison told me, is to emphasize quality over price via individual(prenominal) relationships with clients, employee education, and banking operations.





The companys goal is to help clients make undecomposed business, banking and investment decisions, improve their lives and gain financial security, Mr. Allison said. If the community doesnt do well, neither does the company. Thats the best reason he knows for supporting civic projects like BB&Ts reduced-rate loans and other support to low-income housing projects, and small businesses and farms.

Skiers Choice of Maryville, Tenn. manufactures inboard ski boats that make the joy of getting out on the water affordable to more families. Its focus on innovation, quality and dependability have made this privately held company an assiduity leader that strives for...If you want to get a full essay, indian lodge it on our website: Orderessay



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