Question

Who is the most well-known advocate of the Classical View of Social Responsibility stating that "Management's only social responsibility is to maximize profits"?

• A. John Elkinton
• B. Edward Freeman
• C. Milton Friedman
• D. Henry Mintzberg

Hint:

Classical theory focuses on profit as the main objective of business, contrasting modern CSR approaches.

Answer 1

The Correct Option is C

Step 1: Traditional perspective on social responsibility: This view prioritizes profit maximization as management's sole obligation.
Step 2: Key advocate: Milton Friedman argued in his 1970 essay that management's main duty is to maximize profits for shareholders.