This is a research-based essay, which should be analytical in style. Students are expected to consult a variety of sources including textbooks, academic journals and articles from newspapers. In total at least 10 sources must be consulted of which at least six should be academic journals. Draw upon relevant case studies to critically assess the following statement: Ethical values and social responsibility serve an important role in the strategic planning process of a business. According to Milton Freidman, "there is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud" (Wheelen & Hunger, 2010, p. 72).