Discuss the two dominant views of business namely:
(a)Miton Friedman sharacholders’ value
(b)Edward Freeman’s stakeholder approach

The two dominant views of business are Milton Friedman's shareholder value view and Edward Freeman's stakeholder approach. These views represent different perspectives on the role of businesses in society and the responsibilities they have to different groups of people. In this essay, we will discuss both views in detail and compare and contrast their key differences.

(a)Miton Friedman sharacholders’ value

Milton Friedman's Shareholder Value View: Milton Friedman was a well-known economist who promoted the idea that the primary responsibility of a business is to maximize profits for its shareholders. He argued that businesses should prioritize the interests of shareholders above all else, as they are the owners of the company and have invested their money with the expectation of receiving a return. According to Friedman, businesses should pursue profits as their primary objective, as this would naturally lead to other positive outcomes such as economic growth and improved living standards.

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