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"?
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"?
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Classical theory focuses on profit as the main objective of business, contrasting modern CSR approaches.
Updated On: Sep 18, 2025
- John Elkinton
- Edward Freeman
- Milton Friedman
- Henry Mintzberg
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The Correct Option is C
Solution and Explanation
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.
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