10 Questions
According to Ed Freeman, who are the stakeholders of a corporation?
Any group or individual who can affect or is affected by the corporation's purpose
What is Milton Friedman's view on the responsibility of corporations?
Corporations should increase profits as much as possible, as long as they stay within legal and moral boundaries
Why does Milton Friedman consider stakeholder theory to be dangerous?
It undermines democracy by allowing entrepreneurs to distribute wealth without being elected
What is the key difference between Milton Friedman's and Ed Freeman's views on stakeholders?
Friedman believes corporations should focus on profits, while Freeman believes they should listen to all stakeholders
According to the passage, what is the key reason why Milton Friedman sees stakeholder theory as undermining democracy?
Stakeholder theory allows entrepreneurs to distribute wealth without being elected
What is Friedman's view on the role of corporations?
Corporations should focus solely on maximizing profits.
What does the text suggest about stakeholder theory?
It promotes a pluralistic perspective on business and society.
What is the 'separation fallacy' criticized by Freeman?
The belief that the economy can be separated from other societal domains.
What does the text suggest about the 'Great Reset' advocated for after the pandemic?
It advocates for stakeholder capitalism over shareholder capitalism.
How would Friedman view the 'Great Reset'?
As a threat to democracy by giving corporations too much power.
Learn about the significance of stakeholders in organizations and how they can impact the achievement of a corporation's purpose. Understand the importance of listening to stakeholders for effective organizational management.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
