C/B/131. ´There is only one real social responsibility of business ­ to use its resources and use activities designed to increase its profits as long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraudŽ Milton Friedman. Discuss this statement.

The report is largely based upon and around the view of Milton Friedman on corporate social responsibility, which in his view should be mainly focused on profit making activities. The writer runs comprehensive analyses of the concept (history and sequent definitions, opinions ands facts available from various academics and practitioners as well as studies and researches commenced on the subject). The report is completed by providing a balanced personal account on the topic with respect to the previously undertaken analyses.