The primary responsibility of any organization’s manager is towards the owners of that organization. And as some people claim managers should not have any consideration for the society’s needs as their only main objective is profit maximization for the owners of the business. (Strugatch, 2011)
According to the profit maximization theory, the corporations or companies will sell their products at a price at which they will be able to achieve highest total profit. Producing at the lowest cost in order to maximize profits at times would mean that these private sector entities would indulge in business practices that are socially unethical .for example; in order to cut its cost a company may locate its factory at a location where land price, labour and transportation costs are lower. So this way they will not be socially responsible because they would not care if they would destroy the land, are paying unfair wages or exploiting a country’s resources. The only objective is to maximize profits. (Holme, 2010)
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