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Milton Friedman’s (1970) essay on “The Social Responsibility of Business Is to
Increase Its Profits” has long been cited by managers, politicians, and business
scholars alike to argue against various forms of social responsibilities of
businesses.
(1) Engage with Friedman’s arguments by reading his famous essay and summarize
his main lines of argument:
Why, according to Friedman, should the social responsibility of business be to
increase its profits?
https://timesmachine.nytimes.com/timesmachine/1970/09/13/223535702.html?pa
geNumber=379)
In the 50 years since the publication, the public debate as well as our understanding
of society and business has moved on. On the 50th anniversary of Friedman’s essay,
in Sep. 2020, The New York Times published a piece with a series of responses to
Friedman.
(2) Engage with these thoughts to collect and systematically arrange arguments:
Why might businesses have other responsibilities than increasing their profits?
https://www.nytimes.com/2020/09/11/business/dealbook/milton-friedman-doctrine-socialresponsibility-of-business.html)
Submission Guidelines
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Maximum = 2 pages. If you create more than two pages, your grade will deducted
by 5%. References are not counted in this page limit.
Single-spaced within paragraphs and double-spaced between paragraphs.
No less than 1-inch margins and 12-point font (enforced). Smaller/Larger fonts
and margins will be deducted 10%.
Click “Submit Assignment” located at the top right-hand corner to upload your
assignment.
Cite your relevant sources in APA citation and referencing format (this refers only
to the citations/references, not the paper writing style)
This assignment uses TurnitIn, a plagiarism checker to help you verify the
authenticity of your work.
Beware: it is obvious when students only do a portion of the readings and try to
develop a paper around that portion. You should read all of the assigned materials
and demonstrate this in your analysis by integrating the different concepts.
Papers that demonstrate students’ superior ability to integrate the readings and
draw conclusions that are important to managers and/or policymakers will receive a
score of an A, whereas a D score will be awarded to papers that have weak analytical
form and construction.
Rubric
Paper 1 Rubric
Paper 1 Rubric
Criteria
Ratings
Pts
This criterion is
linked to a Learning
OutcomeSynthesis
Summarize the
main take-aways in
a concise and clear
manner
2.5 to >2.13 pts
2.13 to >1.88 pts
Excellent
Good
Thoughtfully addresses
all required elements
and makes explicit
connections with
supplementary evidence,
references, or resources.
Demonstrates skillful use
of high-quality, credible,
relevant sources to
develop ideas.
Thoughtfully
addresses all
required elements.
Demonstrates
consistent use of
credible, relevant
sources to support
ideas.
1.88 to
>1.25 pts
Fair
Cursory. Does
not address all
required
elements.
Sources are
missing or the
majority cited
not relevant or
credible
1.25 to >0 pts
Incomplete
Incomplete.
Does not
address most of
the required
elements. The
majority cited
not relevant or
credible
2.5 pts
Paper 1 Rubric
Criteria
This criterion is
linked to a Learning
OutcomeKey
Findings
Discuss key
takeaways across
the readings
This criterion is
linked to a Learning
OutcomeApplication
Integrate the
different concepts;
draw conclusions
that are important
to organizations
Ratings
5 to >4.25 pts
4.25 to >3.75 pts
Excellent
Good
Thoughtfully addresses
all required elements
and makes explicit
connections with
supplementary evidence,
references, or resources.
Demonstrates skillful use
of high-quality, credible,
relevant sources to
develop ideas.
2.13 to >1.88 pts
Excellent
Good
Uses appropriate,
relevant, and
compelling
content to
illustrate mastery
of the topic.
Uses mostly
appropriate,
relevant, and
compelling content
to explore ideas but
may lack full
development of
ideas.
2.5 to >0 pts
3.75 to
>2.5 pts
Thoughtfully
addresses all
required elements.
Demonstrates
consistent use of
credible, relevant
sources to support
ideas.
2.5 to >2.13 pts
Pts
Incomplete
Fair
Cursory. Does
not address all
required
elements.
Sources are
missing or the
majority cited
not relevant or
credible
1.88 to
>1.25 pts
Fair
Development
of topic may
be lacking.
Incomplete.
Does not
address most of
the required
elements. The
majority cited
not relevant or
credible
5 pts
1.25 to >0 pts
Incomplete
Development of
topic is lacking,
underdeveloped or
not directly related
to topic.
2.5 pts
Paper 1 Rubric
Criteria
Ratings
Pts
This criterion is
linked to a Learning
OutcomeFormatting
and grammar
be no more than
two pages; be
single-spaced within
and double-spaced
between
paragraphs. No less
than 1-inch margins
and 12-point font
are acceptable.
This criterion is
linked to a Learning
OutcomeCitations &
References
Citations are utilized
correctly. A
formatted reference
list is provided.
Total Points: 15
2.5 to >2.13 pts
2.13 to >1.88 pts
1.88 to >0 pts
Excellent
Good
Incomplete
Clear and logical
flow, no errors in
grammar or typos.
Thoughtfully addresses all required
elements. Clear and logical flow, few
or no errors in grammar or typos.
Disorganized, many
errors in grammar or
typos.
2.5 to >2.13 pts
2.13 to >1.88 pts
1.88 to >0 pts
Excellent
Good
Incomplete
Citations and references
used appropriately.
Some citations or references
missing or not appropriately
utilized
No citations or
references used.
2.5 pts
2.5 pts
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