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Shareholder theory and stakeholder theory

Topic: Shareholder theory and stakeholder theory present very distinct ideas about the social role of companies. On the one hand, Milton Friedman writes, …there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud. (183) According to a competing view, companies should have a broader notion of their responsibilities to include consideration of the triple bottom line (people, planet, and prosperity). Prompt: Develop a position paper that considers the duties of companies to: • shareholders • employees • the environment • the communities in which companies operate Guidelines: Clear thesis, 5 pages 12 point font, double-spaced complete bibliography and in-text citations, Chicago style