Discussion 1: What Are the Fundamental Purposes of Business and the Responsibilities of Strategic Leaders?
Milton Friedman, a noted free-market economist, suggested in 1970 that the sole purpose of business is to generate profit for shareholders.
A fundamental basis for successful strategy, whether at the economy level or the company level, is understanding the purpose of an organization. Confusion over the means/ends relationships within a strategic thinking context can lead to devastation at all levels of the organization. In this
Discussion you are asked to reflect upon various points of view that relate to the purpose of business, and to defend a point of view that you are assigned.
To prepare for this Discussion, review and take critical reading notes on this week's required readings, media, and any relevant resources from your MBA Program Capstone Bibliography document.
The sole purpose of business is to generate profit for shareholders, as Milton Friedman suggests. The primary responsibility of senior leaders of business is to ensure shareholders receive maximum returns.
Post a well-written response to support the point of view above from Milton Friedman
Be sure to make as strong of an argument as you can to support your view, relying on the assigned and other resources you have chosen from the MBA Program Capstone Bibliography or program content, whether or not you agree with the point of view personally. This is like a mini- debate, so be nice and have fun!
General Guidance: Your original post, due by Day 3, should be 3-4 paragraphs in length as a general expectation/estimate.