Many views exist around the topic of ethics and ethical practices in any business venture. While some prefer the Friedman view that focuses only on company profit, other business models plan to operate based on specific ethical practices such to increase social well-being. As well, there are some companies and service providers that utilize a shared value in order to create a profit as well as bring good into society as a whole.

Although there are many different alternatives when deciding a strategy for a business when considering ethics, many problems and set-backs can occur just as Brooke Besley discussed in her article about Business Ethics. In relation to these possible issues that arise when taking into consideration ethical practices, I strongly believe that the most beneficial plan of action for any business is the Friedman approach.

Following this approach, businesses will be able to fulfil their most important responsibility to society, that of making maximum profit, and as outline is Brooke Besley’s article, this approach will deter the corporation for any future set-back when trying to incorporate a different ethical structure. The Friedman approach to a business will encourage the company to focus on increasing profits, and this system of thinking can eventually lead to practices that can be more or less ethical, but regardless, the company will have met its number one social responsibility; the maximization of profits.

Brooke Besley’s Blog

https://blogs.ubc.ca/brookebesley/2013/09/11/business-ethics/

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http://www.distributedrepublic.net/port/images/miltonfriedman.jpg