Freeman and Friedman had different views when it came to social responsibility. Although both...

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Freeman and Friedman had different views when it came to social responsibility. Although both believed in higher ethics (i.e., the spirit of the laws and not just that which is legal), they had different views of ethics and morals in the business context..

Define and describe Freeman’s Stakeholder Theory and Friedman’s Shareholder Theory (Use academic support and not just your opinion for the definitions)
Identify commonalities and differences in these two theories.
Which one do you lean toward and why?

Sunabh · Accepted Answer

BUSINESS ETHICS 										4
BUSINESS ETHICS
Table of Contents
Freeman’s Stakeholder Theory	3
Friedman’s Shareholder Theory	3
Similarities and Dissimilarities between These Two Theories	3
My Preference with Rationale	3
References	4
Freeman’s Stakeholder Theory
As defined by Miles (2017), Stakeholder Theory is defined as a combined theory of business ethics and organizational management, which depicts the role of the stakeholders in the organization, in terms of bringing about changes in the business. Freeman had depicted the stakeholders as indispensable entities of the organization, which is why, according to him; the organization would not function at all, in their absence, thus, giving them the utmost importance.

Freeman and Friedman had different views when it came to social responsibility. Although both believed in higher ethics (i.e., the spirit of the laws and not just that which is legal), they had...

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