Stakeholder Theory and Organizational Management
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Questions and Answers

According to Ed Freeman, who are the stakeholders of a corporation?

  • Employees, customers, suppliers, and governments
  • Any group or individual who can affect or is affected by the corporation's purpose (correct)
  • Only the stockholders
  • Only the employees and owners of the corporation

    • What is Milton Friedman's view on the responsibility of corporations?

  • Corporations should focus on distributing wealth equally in society
  • Corporations should listen to all stakeholders and address their concerns
  • Corporations should increase profits as much as possible, as long as they stay within legal and moral boundaries (correct)
  • Corporations should prioritize the interests of stockholders over other stakeholders

    • Why does Milton Friedman consider stakeholder theory to be dangerous?

  • It undermines the ability of corporations to increase profits
  • It undermines democracy by allowing entrepreneurs to distribute wealth without being elected (correct)
  • It undermines the power of stockholders
  • It undermines the power of governments

    • What is the key difference between Milton Friedman's and Ed Freeman's views on stakeholders?

    <p>Friedman believes corporations should focus on profits, while Freeman believes they should listen to all stakeholders</p> Signup and view all the answers

    According to the passage, what is the key reason why Milton Friedman sees stakeholder theory as undermining democracy?

    <p>Stakeholder theory allows entrepreneurs to distribute wealth without being elected</p> Signup and view all the answers

    What is Friedman's view on the role of corporations?

    <p>Corporations should focus solely on maximizing profits.</p> Signup and view all the answers

    What does the text suggest about stakeholder theory?

    <p>It promotes a pluralistic perspective on business and society.</p> Signup and view all the answers

    What is the 'separation fallacy' criticized by Freeman?

    <p>The belief that the economy can be separated from other societal domains.</p> Signup and view all the answers

    What does the text suggest about the 'Great Reset' advocated for after the pandemic?

    <p>It advocates for stakeholder capitalism over shareholder capitalism.</p> Signup and view all the answers

    How would Friedman view the 'Great Reset'?

    <p>As a threat to democracy by giving corporations too much power.</p> Signup and view all the answers

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