Question

What are the fundamental purposes of business and the responsibilities of strategic leaders? Milton Friedman, a noted free-market economist, suggested in 1970 that the sole purpose of business is to generate profit for shareholders. A fundamental basis for successful strategy, whether at the economy level or the company level, is understanding the purpose of an organization. Confusion over the means and ends relationships within a strategic thinking context can lead to devastation at all levels of the organization. In this discussion you are asked to reflect upon various points of view that relate to the purpose of business and the role of the strategic leader, and to defend your point of view with readings from the MBA program literature and course concepts.

Answer 1

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Fundamental purpose of business:
A primary aim of a business is to support the clients The customers are relevant to the corporation as a whole, such as shareholders, the company, etc.The business is present to us the customers The mission statement would demonstrate the path of a company that the company needs to reach.

Responsibilities of strategic leaders:

• The company vision says in a period of 3—5 years Core ideology and the manager must push to achieve the vision. strategic leaders determine where the organization must go.
• Management of company resources This includes the allocation of resources for every financial, human and organizational department If the strategy is altered, resources will also be changed.
• The leader will uphold the corporate culture The organisation's highly regarded philosophies, logos and values must be upheld.
• The leader must promote the importance of ethical behaviour.
• The organization's policies.
• The organization's rewards systems.

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