... instead, announced plans to preserving the environment, fighting hunger, empowering women and providing access to healthy, affordable food. The essay will try to argue the problems of Wal-Mart dominating the world in the retail business to create great profit by giving low wages to the employee according to Milton Friedman and utilitarianism. Also, it will discuss how the plans announced by Wal-Mart deal with the global responsibility. Moreover, how should government involve in this situation. Problem: Low-wages for the Employee 1. Milton Friedman According to Milton Friedman, an American economist and philosopher, the most important social responsibility of a corporation is to maximize profit for its owner- stockholder (Friedman, 1970). He suggested that if a corporation put the focus on being socially responsible, it would make the corporation less competitive with those competitors who did not put much focus on social responsibility. For the act of Wal-Mart to provide only low wages and little benefit to the employee, according to Friedman, it is actually reducing the operation cost of the company, hence, maximizing the profit. Moreover, Friedman also stated that when the corporation is maximizing the profit, it must follow the basic rules of the society. This actually support Wal-Mart action, as the wage given to the employee is...
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...John is suffering from stress due to the possibility of his wife leaving him and his job being on the line. Evaluation of models behavior According to the case study John has multiple health issues that the doctor cannot explain from a physical point of view. His medical problems can be explored by understanding what psychosomatic medicine (the mind body relationship) is. According to Friedman (2002) “a significant proportion of patient complaints (at least 25 percent) made to physicians are psychological in nature and have no significant physical counterpart.”(pg. 80) Patients, like John, exhibit symptoms from tension (caused by an unhappy marriage) such as headaches, pain, or weakness and no physical explanation can be found because the problems are somatization. (Friedman, 2002) Somatization is symptoms that have no known medical explanation and are affected by psychological processes. (Friedman, 2002) John’s stressors at the moment consist of his failing marriage, debt and the possible loss of his job. The first type of behavior model is the illness behavior (sick role) model. Friedman (2002) describes this model as someone who responds to...
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...articles titled: “Stakeholder Theory and The Corporate Objective Revisited” and “The Social Responsibility of Business is to Increase its Profits”. By examining their articles, I will provide a personal opinion of which of their economic models should be the leading model when it comes to business and corporate social responsibility. Summary of Articles Author R. Edward Freeman’s article “Stakeholder Theory and The Corporate Objective Revisited,” emphasized a response to a piece put out by Sundaram and Inkpen titled “The Corporate Objective Revisited” by clarifying misconceptions about stakeholder theory and concluding that truth and freedom are best served by seeing business and ethics as connected (Freeman, Wicks, & Parmar, 2004). Freeman supports the above statement by providing the following three main critiques: 1) the mischaracterization of stakeholder theory; 2) the primacy of creating value for stakeholders, and; 3) the real issues of economic and political freedom (Freeman, Wicks, & Parmar, 2004). In response to social responsibility, Freeman clarifies that stakeholder theory claims that no matter what the ultimate mission of the corporations or any form of business activity, managers and owners must take into account the legitimate interest of those groups and individuals that can affect their activities (Freeman, Wicks, & Parmar, 2004). The importance of creating value for stakeholders, also, encompasses social responsibility in that it creates value to shareholders...
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...1.What rhetorical points has Stephanie Malinowski chosen to analyze her strong response essay? In Malinowski’s strong response essay, she uses Friedman’s close-minded assumptions on all Indians that work in a call center. According to Malinowski, his use of “few personal experiences” minimizes the “credibility for his article” (122). Not only does Friedman use the only observation he has made to conclude that “working an outsourcing job must be gaining” but overall “done wonders for their lives” (122). 2.What examples and quotations from Freidman’s article work particularly well as support for her points? Where might she have included more support? The most eye-catching would be “Indians are so hospitable” giving the reader an abundance...
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...community by keeping their needs and expectations in mind. The ethical interests of the organization must be well defined and all conflicts of interest or legal occurrences must be dealt with in a completely ethical manner. The stakeholder’s have the expectation of transparency from the organization so that their needs are taken into consideration during the course of developing the strategic plan for the organization. The question of what the ethical social responsibility requirements of an organization are can be answered in different ways depending on the view of the corporation. Milton Friedman and Archie Carroll have very different ideas of corporate responsibilities to society. Friedman believes in a more traditional view of corporate responsibility limiting the influence of government regulations that affect the worldwide economy. A quote from Milton Friedman that underscores his believe in minimal involvement of government says it all. "If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand" (Hawkins, 2011). Archie...
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...Psychoanalytic Theory Sigmund Freud assessed his patients using a psychosexual theory of development. He viewed development through a lens of sexuality and sought to interpret how childhood experiences impacted adulthood. He grouped development into four stages: oral, anal, latency, and genital (Friedman & Schustak, pgs. 70-76). Freud felt that most adult challenges originated with a fixation at one of these stages. If I were on Freud�s couch, he might notice my on-going pursuit or �intake� of learning and new ideas. He might spend some time probing about my relationship with my mother and learn that she was often pre-occupied (with stress, divorce, new marriage, etc.) during my early development. He would discover that I am still seeking a connection with her, in many ways, as an adult. Freud might interpret that I am fixated at the oral stage and that my mother�s inconsistent responsiveness makes me continue to seek mothering and validation in the form of instruction and grades. In addition to his psychosexual analysis, Freud utilized the unconscious and structures of the psyche (id, ego, superego) to assess his patients (Friedman & Schustak, pg. 67). In this context, Freud would likely say that I am superego driven. I have always been very focused on trying to do what is �right.� Freud might draw a connection to my oral fixation and say that I am still seeking validation from my mother through obsessively socially acceptable behavior. I want to be loved...
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...Response to Friedman It would seem academia's view of the Massive Open Online Course (MOOC) is split. There are some that would like to believe MOOCs are the next revolution in education. One such person is Thomas Friedman, an author and columnist for the New York Times. Friedman has high expectations of MOOCs and states, "I can see a day soon where you'll create your own college degree by taking the best online courses from the best professors from around the world."1 On the other hand Karen Head, an assistant professor for Georgia Institute of Technology, initially wanted nothing to do with them. She stated, "I wondered how anyone could possibly teach writing in a massive open online course--a question that many of my colleagues are still asking."3 Friedman posits that innovation will come because of demand from the market, parents, students and even the federal government.2 Karen is part of that innovation not only as a professor but as a planner in the program. Her experience in preparing the MOOC for Georgia Tech will certainly challenge Friedman's idea of cheap. Perhaps if Friedman expanded on the idea of initial cost vs. maintenance cost of a MOOC it wouldn't appear cheap in the short term. In this case of start-up costs for a university it would have to be seen as an investment. In the long term gains would be seen, provided their program is a successful one. In the end Friedman holds on to his idea of a revolutionary new way to educate the world...
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...commonalities in values, traditions and activities; and families are the building blocks of society. The family unit provides the means by which society populates itself and cultivates the values, traditions and activities which define the group as a unique society. A society’s stability is affected by the adherence to thoses commonalities and the family unit’s ability to impart those values upon its members. The basic functions of the family include psychological stabilization, socialization, provision of economic and physical necessities. (Friedman, Bowden, & Jones, 2003) These functions are not static, they change as the family matures and their roles within the family change. Where a child was onced cared for physically and economically by a parent years later the opposite could occur where an aged parent would be dependent both physically and economically on the now adult child. Successful changes in family function and structure in response to such a drastic reversal require an intense effort; and often despite satisfying the economic and physical functions; issues often arise due to the lack of psychological stablization and socialization in these new family roles. In the medical-legal field where I practice, the family is viewed as a component of society (Hanson, 2001). Society reflects the changing values of the family as the family reflects the changing values of society. The assessment of the family is based upon the interactions between the family and other subsets...
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...personality types and stress related illness. (12 marks) Friedman and Rosenman identified two types of personality that relate to individual responses to stress these were type A and type B. Type A personalities are said to be impatient, competitive, ambitious, aggressive, find it hard to relax. In contrast, type B personalities are the opposite, being less driven, more easy going, patient and able to relax. Friedman and Rosenman conducted a longitudinal study in which 3000 middle aged men in california were examined for signs of CHD, while there personalities were also assessed using a structured interview. The findings showed after 81/2 years, twice as many type A participants had died of cardiovascular problems. while over 12% of type A participants had experiencedd a heart attack compared to just 6% of type B participants. Friedman and Rosenman concluded that Type A behaviour signifcantly increased the risk of coronary heart disease, and that personality types can contributre to stress related illness. A strenght of this study is its sample size as there is a increase in population validity. This is because 3000 participants were used which therefore provides a more representative set of results. However on the other hand a criticism of this study is it also lack external validity as all the participants were male therefore it cant be generalised to other cultures. Furthermore a study which is against Friedman and Rosenman is Myrtek who carried out a meta-analysis of...
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...Milton Friedman and Free-Market Capitalism Milton Friedman is known worldwide for his belief in defending free-market capitalism and his faith that it can proficiently and impartially distribute wealth throughout a nation. Most of Friedman’s peers are not able to put that same amount of confidence in the ability of the market as he. Friedman has suspicions of government interference in the business of a nation’s economy. These suspicions are based on his belief in a limited government and that a capitalist economy free of government interference would provide the best choices for a consumer. Instead of being so involved in the market, he believes that the government has a responsibility to keep a high standard of living through certain functions like defense, education, and public utilities and set certain laws regarding economic policy in order to keep in check the “game” of economics. (Friedman 25) Friedman suggests that the government pass “a legislated rule instructing the monetary authority to achieve a specified rate of growth in the stock of money.” (Friedman 54) Besides serving this purpose, Friedman believes the government’s interference is detrimental. Friedman’s Suspicions of Government Interference The United States government portrays the idea that without government intervention, society’s economic growth would stagger. According to Friedman, economic growth and stability are due to the reduction of government interference. Friedman has many reasons for why he believes...
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...Murphy2 School of Hygiene and Tropical Medicine and 2 London School of Economics 1 London Abstract: This paper introduces the alternating conditional expectation (ACE) algorithm of Breiman and Friedman (1985) for estimating the transformations of a response and a set of predictor variables in multiple regression that produce the maximum linear effect between the (transformed) independent variables and the (transformed) response variable. These transformations can give the data analyst insight into the relationships between these variables so that relationship between them can be best described and non-linear relationships can be uncovered. The power and usefulness of ACE guided transformation in multivariate analysis are illustrated using a simulated data set as well as a real data set. The results from these examples clearly demonstrate that ACE is able to identify the correct functional forms, to reveal more accurate relationships, and to improve the model fit considerably compared to the conventional linear model. Key words: Alternating conditional expectation (ACE) algorithm, nonparametric regression, transformation. 1. Introduction In regression analysis, we try to explain the effect of one or more independent variables (predictors or covariates) on a dependent variable (response). The initial stages of data analysis often involve exploratory analysis. Instead of imposing preconceived models, we seek insight into the nature of relationships in the data set and, if possible...
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...Behavioral and Social/Cognitive Approaches to Forming Habits Simona Lewis PSY/250 October 22, 2013 Leska Meeler Behavioral and Social/Cognitive Approaches to Forming Habits It is through observational learning that I truly learned a bad habit or behavior, but it was through observation that I learned how to smoke cigarettes. However, observation learning is a “convincing” force; rather it is good or bad behavior or habit which was learned by an individual. In-spite-of, the individual has the right to act-upon certain behavior. There are several theories that can explain the behavior and the habits that I have learned. Analyze on of your habits. The habit that I will be analyzing is “smoking cigarettes.” How did you develop this habit? I developed this smoking habit by watching other people smoking cigarettes, and I thought that it is an expressive and popular habit to be learned. Were there role models for this habit? Yes, there were role models for the habit or behavior that I learned. Which people influenced the adoption of this habit? The people who influenced me for the smoking cigarettes, is my parents, friends, and coworkers. Why do I continue it? I continue this habit (smoking cigarettes) because smoking cigarettes calms my nerves, whenever I am in deep thoughts about something, hanging out with families or friends, and going to nightclubs. Has there been a time when you have attempted...
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...[pic] [pic] TABLE OF CONTENTS |SrNo | |Particulars |PageNo | |1 | |Prefatory Items |2 | | |1.1 |Acknowledgement |3 | | |1.2 |Table of contents |4 | | |1.3 |Executive Summary |5 | | | | | | |2 | |Introduction |6 | | |2.1 |Introduction to LEVIS |7 | | |2.2 |Problem Statement |8 | | |2.3 |Research Objective |9 | | |2.4 |Limitations |10 ...
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...their homes (Wheelock 2008). The money supply had fallen 35%, prices plummeted by about 33%, and more than one-third of banks in the United States were either closed or taken over by other banks (Parker 2010) . Milton Friedman and Anna Schwartz, in their 1963 book A Monetary History of the United States, 1867–1960, call this massive drop in the supply of money “The Great Contraction.” Monetarists, including Friedman, argue that the Great Depression was mainly caused by this monetary contraction, poor policy-making by the American Federal System, and continued crisis in the banking system. While there are many credited theories that provide an explanation for the Depression, this essay will focus on Monetarism and John Maynard Keynes’s argument for government stimulus in order to combat the economic downturn. Causes For The Great Depression In their book A Monetary History of the United States, 1867–1960, Friedman and Anna Schwartz stated that the Depression began with America’s weak banking system (Friedman et al. 1971). From 1930-1933, 10,000 banks closed. The majority of the U.S banks were small institutions. The Fed did not expect these small banks to have such a large effect on the money supply, causing the banks to heavily rely on their own resources. Friedman and Schwartz point out that the series of bank failures that occurred beginning in October...
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...Friedman vs. Drucker The fundamental goal of any business, whether private or public, is to be profitable, and profitability relates to greater returns to the shareholders. Even in the non-profit segment of the business arena, a healthy bottom line ensures that the company can continue to operate and meet the needs and demands of its clients. The leaders of businesses and organizations are groomed or recruited for their positions because of an innate ability to provide successful business results. However, there is an underlying factor that influences an organizations ability to be successful and provide stakeholders with healthy financial performance. One of the key performance indicators of businesses according to Drucker (1981) is their engagement in ethical business practices or according to Friedman (1970) their social responsibility in the business arena. What is clear is the need for businesses to act in a responsible manner, including implementing actionable measures that include environmental factors, community involvement, financial stability, and corporate sponsorships, as well as having senior leaders who are willing to accept accountability for the actions of the businesses in which they are leading. However, there remains conflicting definitions of ethical business behavior, and “ethics is, after all, not a recent discovery. Over the centuries philosophers in their struggle with human behavior have developed different approaches to ethics, each leading...
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