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: Classical view of social responsibility: It emphasizes profit maximization as the only responsibility of management.

Step 2: Identify proponent: Milton Friedman, in his 1970 essay, stated that management's primary responsibility is to shareholders via profit maximization.