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21937 Managing, Leading And Stewardship
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21937 Managing, Leading And Stewardship
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Course Code: 21937
University: University Of Technology Sydney
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Question:
Here is how Mackey himself describes his firm’s activities:
1) “The most successful businesses put the customer first, instead of the investors” (which clearly means that this is the way to put the investors first).2) “There can be little doubt that a certain amount of corporate philanthropy is simply good business and works for the long-term benefit of the investors.”
Answer:
Perspective 1: Milton Friedman and the Social Responsibility of Business Is to Increase Its Profits
For: The social responsibility of the business enterprises is not just to make profit and work solely towards its own benefit. More importantly, the focus of the various business enterprises should be to contribute in a positive manner or add value towards the society and the planet. The business enterprises need to realize the fact that their growth is linked with the nation and also the planet and thus they need to work for the improvement of the conditions of the planet.
Against: The business enterprises often contest this particular viewpoint with the argument that they have invested a significant amount of capital as well as other kinds of resources in their business and thus it is only natural for them to seek its growth. However, this should not be the case as the business enterprises need to focus on the social growth of the nations in which they are operational as well.
Perspective 2: John Mackey and the Humanitarian dimension of capitalism
For: The increasing amount of competition within the business world has made the diverse business enterprises of the present times to focus on earning an enhanced amount of profit. Furthermore, the diverse business enterprises in order to earn an enhanced amount of profit or revenue often take the help of unethical means for the attainment of the same. However, the various organisations should adopt a humanistic approach for the process of their business. This is not only important from the perspective of the concept of business ethics that the organisations of the present times are required to follow but also from the perspective of the long term growth and also benefit of the organisations.
Against: The diverse organisations contest this particular viewpoint though the use of the moral philosophy of Kantianism which believes that the end results of a particular action justifies the that has been adopted for the achievement of a particular goal. However, this should not be case since the organisations need to take into effective consideration the aspect of humanism for the process of their business since the use of this particular process is likely to offer long term benefits to the concerned organisation.
Perspective 3: T.J. Rodgers and Long-term shareholder value
For: The focus of the organisations of the present times should be on the various customers who form an integral part of their organisation. Thus, the organisations not only needs to take into effective consideration the perspective of the stakeholders and the customers into the process of the designing of the products or the services that they offer but at the same time they need to adopt the kind of strategies that will offer them long term benefits. The use of this particular concept will require the organisations to focus on the concepts of customer loyalty and satisfaction. These two concepts are important since they are likely to provide long term benefits to the organisations.
Against: This particular view is being contested by the various organisations which focus on short term values or plans with the objective of enhancing the revenue of their business. In the present times it is seen that the various organisations try to improve the prospects of their organisation on the basis of creation of short term goals. Thus, it is seen that the organisations do not like to take the help of this particular policy.
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