Milton Friedman on Business Ethics

The basic concepts and basic principles of human behavior are good. This includes studies of universal values ​​such as gender equality, human natural rights, compliance with national law, environmental problems for health and safety, and protection of the natural environment. See also human morals. For example, if a male worker refuses to accept a female colleague, the lack of morality is obvious, letting him be laid off.

The purpose of this article is to explain whether business ethics is mandatory or optional. In this article, it will analyze four ethical theories, namely Milton Friedman, Edward Freeman, Albert Car and Carol. Milton Friedman and Albert Karl said ethics is essential, Edward Freeman and Carol's national ethics are optional. After analyzing these theories it is difficult to find out whether ethics is selective or necessary. However, the choice of ethics is optional or necessary, depending on the goals and personal characteristics of the administrator or leader. In addition, this article will explain ethical behavior or understanding as an ethical organization. By defining the meaning of business ethics, Crane and Matten (2007) clarifies that business ethics is a study of business situations, activities, and decisions that address correct and false issues.

It is generally accepted that companies are not subject to moral restrictions other than complying with the law. Milton Friedman is a pioneer of opinion. He thinks that the company has an obligation to make a profit in the framework of the legal system. Friedman revealed that the role of business leaders is "to earn as much money as possible, including legal expressions and ethical practices, while observing basic social rules." Friedman's ethics is nothing but obeying "customs" and "laws". However, the decline of ethics following laws and customs is causing serious criticism.

Contrast Ethics: Drucker and Friedman Peter Drucker and Milton Friedman are two very successful people who have greatly influenced the business world during their lifetime. In fact, their contribution to their theory and practice still exists. Both of these people are well educated and are leaders, teachers, winners, and publishing authors in that field. However, one of the big differences is that the background is very different. - This article compares the various interpretations of four independent authors when applying to business regarding ethics and social responsibility.