Discussion Post on big steel corporations

Big Steel Corporation is a U.S. company that operates steel manufacturing plants in many countries throughout the World. One of its main plants is in a developing country with weak environmental regulations. Although it complies with the weak regulations in this country, Big Steel does not need to install state-of-the-art pollution reduction equipment to meet these requirements. Big Steel’s managers meet to discuss whether they should upgrade their equipment in this country to the state-of-the art equipment. The cost of installing and operating this new equipment is much higher than keeping and operating their existing equipment.

Write an essay of between approximately 200-1000 words that discusses Big Steel’s corporate social responsibility in the case. Your essay should answer the following questions:

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Describe how choosing to install the equipment will affect the shareholders of Big Steel and at least two other stakeholders who will be affected by the decision. Make sure you describe how each stakeholder will be affected.
What would Milton Friedman advise Big Steel to do in this case? Explain why he would give this advice.
What would an advocate for corporate social responsibility advise Big Steel to do? Explain why they would give this advice.
What do you believe Big Steel should do? Why do you believe this?

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