Week1 | Management homework help

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

  • A: 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.
  • B: The primary purpose of a business is to create and keep customers. Senior leadership’s primary responsibility is to ensure that a company can achieve its strategic intent and win against competition over the long term.
  • C: The primary purpose of business is to solve people’s problems. The primary responsibility of senior leaders is to create and maintain an environment of meaning and purpose so that the organization’s people can create value for a broad range of stakeholders.

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.

We offer the best custom writing services. We have done this question before; we can also do it for you…

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more