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I agree with Dr. Friedman wholeheartedly and for the most part, support the notion that “Companies should not spend time and money on business ethics.”
What is a corporation? According to Webster’s, a corporation is “a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession.”[i] Within this definition lies the problem: the duties and rights of a corporation are loosely defined, and up to the interpretation of individuals.
The word corporation is often used interchangeably with “company,” which is defined as: “an association of persons for carrying on a commercial or industrial enterprise...
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