business

"There is one and only one social responsibility of business," Nobel Prize-winning economist Milton Friedman famously declared more than 50 years ago. It is “to use its resources and engage in activities designed to increase profits so long as it.. engages in open and free competition without deception or fraud.”

Times have certainly changed, especially in the past two decades. Today, corporate leaders and brands know that they can't always follow Friedman's advice, and are expected to step forward and contribute to solving crises facing society. But there are often hazards in doing so. Walt Disney, Delta Airlines, and Larry Fink, Chairman, and CEO of BlackRock, have all faced harsh criticism for their public stands.