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Friedman doctrine. The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1] This shareholder primacy approach views shareholders as the economic engine of the organization and the ...
t. e. Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. [1]
Contents. Family economics. Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, time devoted to domestic production, and dowry payments using economic analysis.
Filial piety is the virtue of exhibiting love and respect for one's parents, elders, and ancestors, particularly within the context of Confucian, Chinese Buddhist, and Daoist ethics. [2] The Confucian Classic of Filial Piety, thought to be written around the late Warring States - Qin - Han period, has historically been the authoritative source ...
Family business. A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood, marriage or adoption, who has both the ability to influence the vision of the business and the willingness to use this ability to pursue distinctive goals. [1][2] They are closely ...
Family values, sometimes referred to as familial values, are traditional or cultural values that pertain to the family 's structure, function, roles, beliefs, attitudes, and ideals. Additionally, the concept of family values may be understood as a reflection of the degree to which familial relationships are valued within an individual's life.
A socially responsible business (SRB) is a generally for-profit venture that seeks to leverage business for a more just and sustainable world.The objective of the SRBs involves more than just maximizing profits for the shareholders; it is also about creating positive changes and making valuable contributions to the stakeholders such as the local community, customers, and staff. [1]
Social rule system theory. Social rule system theory is an attempt to formally approach different kinds of social rule systems in a unified manner. Social rules systems include institutions such as norms, laws, regulations, taboos, customs, and a variety of related concepts and are important in the social sciences and humanities.