Final Exam Review: People

Question 1

Peter Drucker

Answer 1

Confucianism

Question 2

Michael Porter

Answer 2

Creating Shared Value
Social needs define markets
Social harms or weaknesses create
 internal costs for firms
Can improve company productivity AND address locals gaps and failures

Question 3

Edward Freeman

Answer 3

Freeman says that we should 
create value for all stakeholders
Narrow view would be the shareholders specifically
Broad view - anyone who can affect the business

Question 4

Milton Friedman

Answer 4

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
Managerial Capitalism

Question 5

Robert Reich

Answer 5

Reich is focused on CSR not actions that add value for the company
Warns that real CSR is outside the democratic process

Question 6

Carr

Answer 6

Sometimes you need to lie in business

It’s like poker