Fernando's Business Ethics and Corporate Governance, 3rd Edition

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Part 1

 Business Ethics

However, those holding the opposite view have criticized this highly materialistic viewpoint

on several grounds. In their perception, governments cannot and need not be the sole repository

for promoting the welfare of masses. It is an area where the corporate sector can play a signi-

cant role. They assert that it is imperative for business to be socially responsible. Prof. Paul

Samuelson, for instance, advocates a spirit of social responsibility as an inherent feature of a

modern business rm. This view is based on the argument that business organizations, corporate

or otherwise, are part of the society and have ...