The ________ Perspective of Social Responsibility States That a Manager's
The ________ perspective of social responsibility states that a manager's responsibility is to maximize profits for the owners of the business.
From an efficiency perspective,when the manager of a business ________,the self-interests of the owner are best achieved by serving the interests of society.
A) is also its owner
B) plays a purely administrative role
C) has a strong concern for social welfare
D) is risk averse
Which of the following is true regarding the efficiency perspective of social responsibility,according to Milton Friedman?
A) The welfare of the community is the firm's responsibility.
B) Managers who are owners must act in the best interests of society and stakeholders.
C) Managers should maximize profits for the shareholders in the business.
D) Firms have obligations not only to shareholders but also to society.
A major concern with the efficiency perspective is that corporations can impose indirect consequences that may not be completely understood or anticipated.In economic terms,such an unintended consequence is called a(n)________.
B) ethical lapse
D) random error