COMM 104 Chapter Notes - Chapter 4: Stakeholder Management, Making Money, The Need
31 Aug 2016
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Comm 104 chapter 4: an introduction to stakeholder. Milton friedman wrote that the corporate executive could not be motivated by anything else other than to increase the profits of the corporation because he was the agent of the corporation"s owners, to whom he owed all fidelity. Charles handy suggested that a corporation should have a purpose beyond profits. That making a profit was fine, but that it should be a means to a nobler end. An end such as innovation or improvement of society. The need for a new model of capitalism with stakeholders (freeman, managing for. The business corporation has emerged as one of the most important innovations in history. The movement from owner operated to the development of new production processes (i. e. assembly line) meant the evolvement of specialized jobs. This led to specialized owners (i. e. banks, stockholders, institutions), science of management, employees and unions, suppliers and customers.
