An organization/company I am familiar with is a professional sports team, specifically a Major League Baseball team. MLB teams have social responsibility similar to large corporations. They try to maximize profits in order to buy the best players so that there will be a greater chance of winning. The stakeholders of an MLB team are concerned with the corporate side of the team because their actions will likely affect them. For example, the players are major stakeholders because they are the employees and their salary and contracts depend on what happens in upper management. Profits are also important to keep people going to games, and paying for tickets and other items while they are there. If a team has a large profit, they will have better players, win more games, and attract more fans. This cycle is key to bringing as much money in as possible.
The business process of an MLB team goes along with what Milton Friedman says about the social responsibility of business. His point that the only social responsibility of business is to make a profit and be fair is exactly what MLB teams aim for. A player could be a great guy to have around but if he is not performing, the team is going to let him go so that they can hire another player that will produce more for the team, leading to higher profits in the long run. It was interesting when Freidman said that many businessmen are “far-sighted and clearheaded in matters that are internal to their business and short-sighted and muddle-headed in matters that are outside their business but affect the possible survival of the business in general.” I thought this statement related to how the owners and upper management of a team work. It seems as though they are very concerned with internal matters that they sometimes forget about external factors that could affect them such as minor league teams and younger players that could potentially move up to the major leagues one day.