Business Communication Essay: Corporate Social Responsibility Analysis

This essay discusses corporate social responsibility (CSR) in business communication, analyzing perspectives from Milton Friedman and Adrienne Fox. Friedman's view centers on maximizing profit and adhering to shareholder desires, while Fox emphasizes CSR's role in competitive advantage and ethical responsibility. The essay explores how businesses can integrate CSR into strategic plans, address government regulations, and prioritize ethical conduct for sustainable success and high returns to shareholders. Desklib offers further resources and solved assignments for students.

Running Head: BUSINESS COMMUNICATION
1
Business Communication
Name
Professor
Course
Institution
Date

BUSINESS COMMUNICATION
2
Discussion
The article by Milton Friedman on corporate social responsibility in business is based on
strategic increase in the profit margins in the business. In his article, he is focused on issues
related to the overall goals of the business. He reflects on the direct capitalism and economic
freedom in the organization. In his argument on CSR, the business organizations are expected to
have economic freedom through good decision making (Ian and Peter, 2009 p.265). In other
words, he tries to explain the importance of including the shareholders on decision making
regarding how their money will be spent. He argues that the organizations should focus on all
activities that will bring them maximum profit. He tries to identify how the business should do to
avoid high revenues and other charges (Fox, 2007 p.42). Additional, Milton Friedman suggests
that the business organization should be focused and operates within its set principles. This will
be the best way of avoiding issues related to deception and fraud. This article also argues that the
business should be contacted with accordance with the desires of the shareholders. This is one of
the basic rules which should be applied when operating the business for better performance. His
main point of concern is that the business organization should follow its principles for high
returns to shareholders.
In my opinion, the article by Adrienne Fox is based on various potentials on how the
business organization should use the CSR for improving the competitive advantage. Adrienne
Fox argues that through the application of the CSR, the integrated organization will have an easy
way of identifying its success and failure. It will be able to improve on failures through analysis
of the CSR activities developed. I think his point of view is based on how the organizations
would integrate the causes of their agendas into basic strategic plans. I think this is one of the
ethical responsibilities of the organization to sustain the investors and their customers. He argues

BUSINESS COMMUNICATION
3
that CSR is responsible for the identification of government regulations regarding the progress of
the business. In addition, he says that CSR cannot be sold to the HR executives this is to avoid
the social overlap of the management staff within the organization. He believes that CSR should
be given first priority by any business in order to succeed. In his discussion, he believes that
private businesses should have freedom on how they run their business. This can be achieved by
employing CSR methods for the purpose of achieving the maximum profits of the business.

BUSINESS COMMUNICATION
4
References
Fox, A., 2007. Corporate social responsibility pays off. HR magazine, 52(8), p.42. Retrieved
from http://www.apaexcellence.org/resources/research/detail/1223
Ian, W. and Peter, P,. 2009. Milton Friedman on Corporate Social Responsibility’. Journal of
Business Ethics, 5(4), pp.265-269. Retrieved from https://lucidmanager.org/milton-friedman-
corporate-social-responsibility/