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.
Peter Drucker, a leading management specialist, said during his decades of management consulting, that “the purpose of business is to create and keep a customer.”
Norman Wolfe (2010) wrote that “business is a complex living system that directs the flow of energy, and transforms it into desired results.” (p. 1)
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.
This should be answer seperately
Post by Day 3, a well-written response to support the point of view that your Instructor assigned to you.
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. Refer to the Week 1 Discussion 1 rubric for grading elements and criteria. Your Instructor will use the rubric to assess your work.
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