1. Role of business in society
Stockholder (Classic) Theory The "traditional" or "classic" view of business - that the sole purpose of corporations is to maximise profits - has been summarised by James W. ... The aim is to make as large a profit as possible, thereby maintaining efficiency and taking advantage of available opportunities to innovate and contribute to growth. ... If all corporations were to do so, he argues, it would likely skew the entire system and interfere negatively with the invisible hand that so effectively creates what he considers to be the inherent fairness and efficiency of the market place in a...
- Word Count: 2501
- Approx Pages: 10
- Grade Level: Undergraduate