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sustainability and Toms Shoes Thesis


Question: Milton Friedman is a strong proponent of the traditional view of the firm. Recall the video link where he is answering questions from a college student in 1978. John Mackey is a current proponent of something called conscious capitalism. Recall that Andrew Carnegie believed that he was a steward for the wealth that his company made and had a responsibility to take care of others. Where on the social responsibility continuum do you believe a for-profit company should fall? Why do you believe this way?

Question: Facebook has been in a lot of trouble lately. Prior to the current issue, Facebook was in trouble for allowing different companies use its data in different ways. Most recently, advertisers are pulling their accounts believing that Facebook is not doing enough to prevent the sharing of “fake information” on its platform. Do you believe Facebook has a social responsibility to ensure that its platform is used in certain ways? Is Facebook an ethical company? Explain your answer.

Question: Refer to the clips about sustainability and Toms Shoes. The founder of Toms Shoes says he was trying to come up with a way that funding for shoes would be ongoing — he was applying the concepts of sustainability to a social issue. What are some additional applications of this sustainability strategy to social responsibility in other industries?

Question: The speaker in the TedTalk challenged us to think about what problem would we like to solve in the world? What would your answer be to this question? Do you have ideas for solving this problem using business/entrepreneur ideas? Do you see a way to make a profit while solving the problem? Explain.

Question: Does Juuls have a responsibility to act differently to remedy the harm its product caused to young people? Support your answer.

Question: Some companies have responded to the crisis of Covid-19 in ways to protect their employees or their customers. Share some examples of companies you believe have prioritized the interest of customers, employers or society above other interests during this time. Are these actions consistent or inconsistent with their approach to social responsibility pre-Covid? Explain