This assignment delves into the realm of Managerial Social Responsibility, specifically focusing on Corporate Social Responsibility (CSR). It begins by outlining Friedman's perspective, which emphasizes profit maximization as the primary responsibility of a corporation, and Freeman's stakeholder theory, which posits that businesses should create value for various stakeholders. The assignment then discusses how the Moral Minimum perspective can mitigate the weaknesses of both viewpoints, ensuring ethical behavior and adherence to legal standards. Furthermore, the assignment defines "Conflict of Interest," providing examples from online news sources to illustrate how these conflicts manifest in the workplace, leading to issues such as compromised decision-making and unethical practices. It concludes by proposing two strategies managers can employ to prevent conflicts of interest, such as establishing clear compensation structures and developing robust policies to manage employee activities, ultimately aiming to foster a more ethical and productive work environment.
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