firm’s environment both internal and external | My Assignment Tutor

Week 5 Over the last three weeks the focus of our class discussion and learning has been the firm’s environment both internal and external. This week the focus of learning shifts from forces or factors in the firm’s environment to the people driving the firm’s purpose. Core to this chapter is the paradox of profitability and responsibility. These conflicting demands on the firm, raise the question as to whose interests a firm should prioritise. In countries with a market economy, companies tend to prioritise shareholder interests, though most companies acknowledge the fact that they are not entirely economic entities but are ‘also social institutions, embedded in a social environment which brings along heavy social responsibilities’ hence the need to balance responsibility to both shareholders and stakeholders (De Wit & Meyer, 2014). Oxford MBA Debate: Social Responsibility in Business Insight: Ideas for Change – Michael Porter – Creating Shared Value Milton Friedman: The Rise of Socialism is Absurd (Caution: Some words in the video are not politically correct and may offend but I thought it is worth listening to Friedman’s arguments).

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