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Compact case
Case
-
Reference no. IMD-7-2197
Subject category: Strategy and General Management
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Strategy; Business; Society; Capitalism; Purposeful capitalism; Environmental social and governance; Environment; Purposeful organization; Business-society collaboration
Share a link: https://casecent.re/p/169840
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Abstract

This mini case sets up a debate about capitalism. Milton Friedman, in 1970, shared his view of the social responsibility of business to be increase its profits. This contrasts with Blackrock's Larry Fink, who in 2018, 2019, and 2020 announced the era of purposeful capitalism. The case gets participants to think about stakeholder capitalism to meet societal demands. The key question posed at the end of the case is if there was a debate Fink meets Friedman, who has got it right for the future?

Time period

The events covered by this case took place in 1970-2020.

Geographical setting

Region:
World/global
Compact case
Case
-
Reference no. IMD-7-2193
Subject category: Strategy and General Management
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Coronavirus; Pandemic; Preparedness; Whole-of-society approach; Global public-private partnership; Business; Society; Business-society collaboration
View full details
Compact case
Case
-
Reference no. IMD-7-2194
Subject category: Ethics and Social Responsibility
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Sustainability; Business-society collaboration; Greenhouse gas; Ozone layer; Montreal protocol; Climate change; Business; Society
View full details
Compact case
Case
-
Reference no. IMD-7-2195
Subject category: Strategy and General Management
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 02.06.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Strategy; Climate change; Sustainability; Global co-ordination; Montreal protocol; Environment; Carbon emission; Sustainable development goals; Business; Society; Business-society collaboration
View full details
Compact case
Case
-
Reference no. IMD-7-2196
Subject category: Ethics and Social Responsibility
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Sustainability; Greenwashing; Greening; Signalling theory; Business; Society; Business-society collaboration
View full details
Compact case
Case
-
Reference no. IMD-7-2198
Subject category: Ethics and Social Responsibility
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 27.10.2022
Revision date: 17-Nov-2022
Length: 3 pages
Data source: Published sources
Topics: Sustainability; Business-society collaboration; Corporate scandal; Crisis management; Business; Society
View full details

About

Abstract

This mini case sets up a debate about capitalism. Milton Friedman, in 1970, shared his view of the social responsibility of business to be increase its profits. This contrasts with Blackrock's Larry Fink, who in 2018, 2019, and 2020 announced the era of purposeful capitalism. The case gets participants to think about stakeholder capitalism to meet societal demands. The key question posed at the end of the case is if there was a debate Fink meets Friedman, who has got it right for the future?

Settings

Time period

The events covered by this case took place in 1970-2020.

Geographical setting

Region:
World/global

Related

Compact case
Case
-
Reference no. IMD-7-2193
Subject category: Strategy and General Management
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Coronavirus; Pandemic; Preparedness; Whole-of-society approach; Global public-private partnership; Business; Society; Business-society collaboration
View full details
Compact case
Case
-
Reference no. IMD-7-2194
Subject category: Ethics and Social Responsibility
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Sustainability; Business-society collaboration; Greenhouse gas; Ozone layer; Montreal protocol; Climate change; Business; Society
View full details
Compact case
Case
-
Reference no. IMD-7-2195
Subject category: Strategy and General Management
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 02.06.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Strategy; Climate change; Sustainability; Global co-ordination; Montreal protocol; Environment; Carbon emission; Sustainable development goals; Business; Society; Business-society collaboration
View full details
Compact case
Case
-
Reference no. IMD-7-2196
Subject category: Ethics and Social Responsibility
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 19.05.2020
Revision date: 08-Jun-2020
Length: 3 pages
Data source: Published sources
Topics: Sustainability; Greenwashing; Greening; Signalling theory; Business; Society; Business-society collaboration
View full details
Compact case
Case
-
Reference no. IMD-7-2198
Subject category: Ethics and Social Responsibility
Authors: Knut Haanaes; Lisa Duke
Published by: International Institute for Management Development (IMD)
Originally published in: 2020
Version: 27.10.2022
Revision date: 17-Nov-2022
Length: 3 pages
Data source: Published sources
Topics: Sustainability; Business-society collaboration; Corporate scandal; Crisis management; Business; Society
View full details