Today my 13s discussed the tragic case involving Thomas Cook. A jury concluded that the travel firm had breached their duty of care, so we discussed the duties of a business.
Friedman argues a business’ only duty is to make profit, but in today’s world we see an increase in society demanding moral culpability from organisations! Look at the banking crisis!
But another interesting factor is the money Thomas Cook has won from the hotel responsible for the safety of the site. It was more than what was awarded to the family and after pressure from outside Thomas Cook have given half of it to UNICEF (£1.5 million). Is this a socially responsible company or is it doing it to save face? Should they have given away the full £3 million or does it have a duty to its employees to stay afloat?