The concept of CSR according to Milton Friedman and John Mackey

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Q1

The concept of CSR dates back to an influential debate between Nobel laureate

economist Milton Friedman and John Mackey, founder and CEO of Whole Foods.

Answer the following questions in no more than 150 words.

1. Please summarize the key arguments on both sides. (6 points)

2. Who do you agree with, Friedman or Mackey? Please explain why. (9 points).

Q2

Elevator Pitch for a Social Venture. the concept of social entrepreneurship, defined as “the pursuit of social objectives with innovative methods, through the creation of products, organizations, and practices that yield and sustain social benefits.” Author also defines social entrepreneurship as an organizational-level phenomenon; he focuses on organizations, referred to as “social ventures,” that pursue the dual goals of social and economic value through the sale of products and services in a more or less competitive market.

With these definitions in mind, please read the following paragraph about the

wedding industry, and then prepare an “elevator pitch” for a social venture idea:

social entrepreneurial wedding.

Wedding is a huge industry. There are over 2 million weddings every year in the United States, which means somewhere between $40 and 70 billion are spent on weddings each year. Given the size of the industry, there seems to be a business opportunity for social entrepreneurial minds! You are a creative wedding planner interested in planning weddings that are both socially entrepreneurial and affordable. You are scheduled to present your social venture idea in front of a group of angel investors next week, so please prepare a document that contains the following components:

1. Name of the social venture. (7 points)

2. Mission statement of the social venture. (8 points)

3. Please explain the social value and economic value that your venture aims at

creating. (15 points)

4.Please explain how your social venture works. (15 points)

Note: Your response should be no less than 200 words but no more than 400

words in length and contain references to relevant source materials as well as your

own original thoughts on the topic.

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