Asked by anmol agarwal on Sep 26, 2024
The sole purpose of business is to maximize profits, according to the iron law of responsibility.
Iron Law
A principle or theory suggesting that certain political or social dynamics are inevitable or unchangeable, often used in the context of organizational hierarchy and power.
Profits Maximization
The process or strategy of adjusting operations, costs, and pricing to achieve the highest possible profit from business activities.
- Identify the pros and cons of corporate social responsibility.
- Understand the concept of the iron law of responsibility and its implications for long-term business sustainability.
Learning Objectives
- Identify the pros and cons of corporate social responsibility.
- Understand the concept of the iron law of responsibility and its implications for long-term business sustainability.
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