The Social Responsibility of Business is to Increase its Profits Milton Friedman The New York Times Magazine September 13‚ 1970 When I hear businessmen speak eloquently about the "social responsibilities of business in a free-enterprise system‚" I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life. The businessmen believe that they are defending free enterprise when they declaim that business is not concerned "merely"
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ofview‚ also called responsibility centers. The responsibility centre may be defined as “a set of elements dependent on each other‚ which form an organized whole‚ having a degree of autonomy in the use and optimization of the resources they possess”. Responsibility centers include: the revenue centre represents the organizational link in w hich the activity is appreciated as value according to the revenue acquired‚ such as the sales department within an organization. The revenue is planned on the
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Estimate est. est. est. est. est. est. est. est. est. est. est. est. est. est. est. Rank Type 2011 Cat 1 HC 2 HC 3 MM 4 MM 5 HC 6 P 7 F 8 LBM 9 HW 10 MM 11 LBM 12 HW 13 HC 14 LBM 15 LBM 16 HDF 17 LBM 18 HW 19 LBM 20 HDF 21 LBM 22 F 23 LBM 24 F 25 LBM 26 F 27 LBM 28 P 29 LBM 30 LBM 31 HW 32 LBM 33 LBM 34 LBM 35 P 36 F 37 LBM 38 P 39 LBM 40 LBM Home Depot Lowe’s Companies Walmart Sears Holdings Menards Sherwin-Williams (paint stores) Tractor Supply ProBuild Holdings Harbor Freight
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Do different types of music affect the thinking and behavior of teenagers? RATIONALE Nowadays‚ music is considered one of the top means to convey a message to someone whom you want to express your feelings to. Teenagers love to listen to music and relate almost every single thing that is happening in their life to it. I‚ myself‚ am very fond of music and love to listen to music according to the moods and situations. Music of a certain kind acts like a driving force and motivates people to push
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Accounting in an Amoeba Management Profit Center Setting Introduction A profit center is a when a responsibility center’s performance is measured in terms of a profit. Both departmental revenue and costs are accounted for. The resulting profit (or loss) directly affects the bottom line of a company’s overall financial performance. Any department‚ division‚ business unit‚ etc. within an organization’s structure can be designated‚ structured and accounted for as a profit center. Peter Drucker originally created
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Running head: Cost Concepts‚ and Market Structure Proposal 1 Revenue‚ Cost Concepts‚ and Market Structure Proposal Melissa Hillyer University of Phoenix Economics 561 Dr. Kocharyan June 30‚ 2010 Revenue‚ Cost Concepts‚ and Market Structure Proposal 2 Abstract The following paper will analyzes Thomas Money Service scenario data and make recommendations to the company’s increasing revenue. This paper will analyze and determine how to fixed variable cost that should to maximize the profits‚ achieve
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Task 8: Explain how disability may affect development Disability can take many forms and is a serious risk factor when it comes to child development. A disabled child be it physical or learning is likely to have less opportunities in life than a child who is not disabled‚ restricting the choices of job‚ and life experiences. A child may be faced with prejudice and discrimination‚ maybe bullied and teased by peers and this will affect confidence. Children with learning and physical disorders may
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(ROE) of 27.4% grew by 16%. Return on Investments (ROI) of 11.2% shows a significant 28% growth from 8.7% and posted a 14% favourable variance compared to target. * Revenue and net income grew by 13.4% and 33.3%‚ respectively. Major Strategic Issues With the expected estimated 30%-35% decline in the overall booking‚ the expected impact is a decline in income by $7M (Appendix 2). The proposed alternatives to generate additional revenues and or/ cost savings are evaluated using a required
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200-010 Honors Paper Cost Volume Profit Analysis: Establishing a Decision Model In today’s modern world of businesses and corporations‚ there is a common goal shared throughout every industry: increase profits. With increases in technology and developing methods‚ businesses have come far lengths in increasing their profits‚ or operating income. Controlling costs is the key to a successful operation. Executives and managerial departments are using what they know about costs to create business strategies
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Corporate Social Responsibility versus Profit Maximization Introduction Nowadays‚ many large multinational corporations which occupy increasing shares in the market and high statues in the society are usually powerful in having both positive and negative effects on the public to a great extent. As a consequence‚ today‚ the concept of Corporate Social Responsibilities (CSR) draws much more public attention. Social responsibility goes beyond profit making and social obligation. CSR is a business
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