Contrast the views of Milton Friedman

Seattle’s homeless problem is one that ALL large US cities around the world are experiencing. This problem is only going to get worse over time. The government (as it is today anyway) isn’t really addressing this issue. Should business organization take an active role in helping to solve societal problems? Write an essay arguing the business case for generating social value (aka: positive externalities). Your essay should answer the following questions —How are sustainability, tragedy of the commons and social value connected? Given the broad scope of societal problems today, how should “sustainability” be defined? Why is it important for business organizations to adopt sustainable practices? Can business organizations maximize profit and generate social value at the same time?

Contrast the views of Milton Friedman (shareholder value maximization) and Michael Porter (free-market solution to societal problems; what Porter calls “shared value”). Does Milton Friedman’s argument ignore the tragedy of the commons? Incorporate the following in your essay — tragedy of the commons, positive and negative externalities and the Demand Creation Model (specifically how social value generation can influence demand creation). Expected —about 1500 words. Note: This is an individual assignment. FYI — An essay is a piece of writing that supports a thesis or proposition. Again, this assignment is NOT asking for a book report. That is, don’t just summarize the aforementioned. Take a position in your essay.

Two sources:
https://en.wikipedia.org/wiki/Michael_Porter

https://en.wikipedia.org/wiki/Milton_Friedman

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