BM2212

Names SHAINE PADUA Section BSHM 301 Date 03/23/23

P-M-I CHART

Instruction: In the Interesting box, write down how each view contributes to achieving organizational
success. In the My Decision box, write your recommendation on the most effective approach that global
or local companies must employ to achieve organizational success.

Friedman’s Traditional View Carroll’s Four (4) Responsibilities of Business

Plus (Advantages) Minus (Disadvantages) Plus (Advantages) Minus (Disadvantages)

- Businesses may have more - Hurts a firm's reputation in the - The four tasks he listed in - Without the necessary
funds available to invest in the public eye. that order are all excellent. management skills and
creation of new products; - Businesses are interconnected The management methods, businesses that fail
- they may also have more components of their ecosystem- My responsibility and to manage their social and
dividends to distribute to their Friedman disregards the socialDecision environmental responsibility environmental activities
Because shareholders;
I believe a business firmdutymust
of thebecompany
concerned might besocial
about its corporate
in this matched. wisely while
responsibility, corporate making and
citizenship, a profit
- and they may become
sustainability more to profit maximization,
in addition approach. I'm more willing - to Byuse
working
Archiewith businesses,
Carroll's Principle could
in myeventually declare
current place of
efficient, lowering prices as a - This idea has no regard for its they can assist and guarantee
employment or in my future business. A company or organization needs to be responsible enough to care about bankruptcy.
result of increased profits that environmental responsibilities in that they are meeting their
enable them to coversustainability,
environmental their including reducing
maintaining it,
pollution and planting trees, as well
legal obligations whileas how its actions affect people's
costs. lives individually
- doesn't take any actionandto have
affecta good impact ontheir
assisting communities.
employees to
the lives of individuals, be more adaptable and
- and has no beneficial effects on knowledgeable.
communities. - Training employees allows
Interesting them to apply what they
learn in the classroom to the
Friedman holds a traditional perspective on business workplace, which the firm
responsibility that places a greater emphasis on profit-making. needs to be profitable.
According to Friedman, businesses only have a social
Interesting
responsibility to use their resources and engage in activities that
will increase their profits, as long as they play by the rules. This idea is fantastic since it can balance being responsible for your
methods that participate in honest, unrestricted competition business and the environment, much like Carroll's Four
without deception or fraud Responsibility of Business. Additionally, it guarantees that your
business will continue to abide by the law and carry out its legal
obligations. It's a win-win situation because they may benefit
financially while also assisting society. A company or institution that
upholds social obligations might obtain the respect of the people they
assist, as well as benefit from their assistance.