What is classical view or corporate social responsibility?

The classical view of corporate social responsibility (CSR) posits that a company's primary obligation is to maximize shareholder value, prioritizing profits above all else. This perspective, often associated with economist Milton Friedman, argues that businesses should focus on their economic roles while leaving social responsibilities to individuals and governments. In this view, any engagement in social initiatives should be driven by profit motives rather than altruism. Critics contend that this approach neglects the broader impact of corporate actions on society and the environment.