Submitted by: Submitted by 555jessica10
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Category: Business and Industry
Date Submitted: 08/11/2012 05:46 PM
Running head: CASE STUDY: MICHAEL NOVAK: CAPITALISM
Case Study: Michael Novak: Capitalism and the Corporation
Northcentral University
Abstract
The investigative problem is the contrast views of the meaning “stakeholder” in various business management philosophies: the typically American, view stakeholders as owners, and the social democratic view of stakeholders as those who believe they have claim on the property of another. One tends toward freedom and liberty while demanding risk and responsibility. The other tends toward bondage and slavery, while only asking for an outstretched hand and the courage to demand.
Case Study: Michael Novak: Capitalism and the Corporation
The problem to be investigated is the contrasting views of the meaning “stakeholder” has in various business management philosophies: the traditional American view of stakeholders as owners, and the social democratic view of stakeholders as those who believe they have claim upon the property of another. One tends toward freedom and liberty while demanding risk and responsibility. The other tends toward slavery and bondage, while only asking for an outstretched hand and the audacity to demand.
Corporations - Since When
The existence of corporations is not a matter of a simple answer and date. It comes down to what one means by the term. Previous business enterprises that were an amalgam of large numbers of people into a single organization for a specific purpose can be traced back to early times in the form of “monasteries and towns and universities” (Jennings, 2009, p. 87). The majority of larger businesses until the early 19th century were forms of partnerships, including joint-stock companies. The earliest business corporations were established in England in the 1600s, but “were monopolies chartered by the crown for the pursuit of strict mercantilist policies” (Corporation, n.d., para. 2). These corporations took the form of what we consider...