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Jerry Haar and Carlos Parra Is the exclusive aim of the corporation to maximize profit and shareholder value or does it have an obligation to do more? This question—and dilemma—has been vigorously debated since Milton Friedman posed that the only responsibility of business should be business. This crucible is now a moot issue. For it is commonly accepted that while corporate growth and profitability are important, corporations should go beyond financial viability and act as environmental stewards, promote social responsibility, justice and equity, advance economic development, while exhibiting exemplary ethical behavior, transparency and accountability. Edward Freeman proposed to understand corporate […]
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