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Milton Friedman and Archie Carroll offer two contrasting views of the responsibilities of
business
firms to society.
CORPORATE STAKEHOLDERS
Stakeholder Analysis
Stakeholder analysis is the identification and evaluation of corporate stakeholders. This
can
be done in a three-step process.
Moral Relativism
moral relativism claims that morality is relative to some personal, social, or cultural
standard and that there is no method for deciding whether one decision is better than
another.
four types of moral relativism
Nave relativism: Based on the belief that all moral decisions are deeply personal
and that individuals have the right to run their own lives, adherents of moral relativism
argue that each person should be allowed to interpret situations and act on his or her own
moral values.
Role relativism: Based on the belief that social roles carry with them certain
obligations to
that role, adherents of role relativism argue that a manager in charge of a work unit must
put aside his or her personal beliefs and do instead what the role requires, that is, act in the
best interests of the unit.