Milton Friedman, an American economist, and statisticians developed numerous free-market methods. Friedman fought for free trade, smaller government, and a slow, steady increase in money supply in a growing economy.
In 1976 he won the Nobel Prize in Economic Sciences and lay down a business hypothesis.
Friedman’s theory said that companies first obligation it’s to their shareholders. Profit to the shareholders must be the priority and the best chance for expansion and success. Most executives of corporate America followed the theory.
Critics said the majority of investors focused on short-term gains. Friedman’s theory ignores the company’s employees, vendors, and even customers who have a long-term interest in the wellbeing of the organization.
Amazon (Jeff Bezos)
Apple (Tim Cook)
JP Morgan Chase (Jamie Dimon)
Bank of America (Brian Moynihan)
American Airlines (Doug Parker)
Ford (James Hackett)
AT&T (Randall Stephenson)
Coca-Cola (James Quincey)
Home Depot (Craig Menear) And other CEOs
The Wall Street Journal called it a “major philosophical shift for the association, which counts the chief executives of dozens of the biggest U.S. companies as its members.”
Matching market trends and being current sway consumers perceptions, interactions, and the outcome. Traditions and theories need to be reviewed and may be adjusted to fit our needs and behaviors.
The progression of the last decade, we see significant changes in the consumers made. Text and email replaced most phone conversations. We exchange file cabinets, books, and photos with a computer. Invitations are emailed or texted, and credit cards are part of the mobile. We see papers as a useless medium. Medium in the form of Interactive Paperless is Priceless.
We live in the ‘Now.’ We can find anything needed when we needed it.
Do you get me now?