Reaction paper Assignment Example | Topics and Well Written Essays - 500 words - 9

Reaction paper - Assignment Exampleeconomic terms, author discusses different suppressions of excesses of exponent (such as externalities, moral hazards, and monopolization practices) in order to demonstrate constant existence of control over managerial capitalism (Freeman 39-40). Finally, Freeman defines his stakeholder theory by providing its definition, finding out its actors, and evaluating their influential potential on managers of corporations. After arguing on narrow and wide concepts of stakeholder, he claims that witnessers, employees, suppliers, customers, and the local community support their wager in contemporary corporations (Freeman 40-42). For him, government and competitors are not stakeholders, since they are not necessary for the survival of corporation (Freeman 42). In conclusion, Freeman recognizes manager as nance Solomon (42) for the company, as in the given circumstances he has to satisfy different groups of stakeholders with various interests.Another artic le, written by Milton Friedman, raises the question social responsibility to have a direct influence on corporate profits. To start with, the author draws on the most apparent fact of responsibility namely, manager ss an agent of the individuals who own corporation (Friedman 2) is always answerable for his employees. In this case, he distinguishes executives corporate social responsibility from his own one by defining the incumbrance interest of his drill in serving employers and customers (Friedman 2). Furthermore, political dimension appears in the fact that social responsibility is the result of socialist perspective, which says that politicians not executives are responsible for sharing limited resources (Friedman 3). As a result, conflict of interests emerges as an additional obstacle to managerial objectivity while possessing socially responsible corporate activity (Friedman 3-4). Finally, Friedman analyzes open protests from stakeholders whether they correspond the ideal o f democratic