In recent years, corporations have faced unprecedented pressure to address societal challenges beyond their traditional business objectives. This shift has been accelerated by climate change urgency, social justice movements, and increasing wealth inequality. Major companies like Patagonia transferring ownership to a climate-focused trust, BlackRock's push for ESG investing, and Meta's oversight board for content moderation represent different approaches to corporate responsibility.

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Business leaders have long argued that companies serve society best by focusing on profitable growth, creating jobs, and driving innovation. Milton Friedman's doctrine that "the social responsibility of business is to increase its profits" shaped corporate thinking for decades. This view suggests that well-functioning markets naturally align business success with societal benefit.

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However, critics argue that this traditional model is insufficient for addressing modern challenges:

1. Climate change requires immediate action that may conflict with short-term profits
2. Technology companies face complex ethical decisions about privacy, algorithmic bias, and mental health
3. Global supply chains raise questions about labor rights and environmental standards across borders
4. Wealth concentration has sparked debate about corporate tax practices and worker compensation
5. Social media platforms struggle with balancing free speech against misinformation risks

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These tensions have led to diverse corporate responses:

• Some companies have become "B-Corps," legally committing to consider stakeholder interests beyond shareholders
• Others maintain traditional structures but have expanded their ESG (Environmental, Social, Governance) initiatives
• Tech companies have created ethics boards and increased transparency about their decision-making
• Many firms face pressure from employees to take stands on social issues
• Investment funds increasingly consider social impact alongside financial returns

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So who should define what constitutes "responsible" business conduct? And what role should corporations play in addressing social issues?

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