Shareholder Approach
A management philosophy, associated with Milton Friedman, that argues a business's primary duty is to maximise financial...
Real World
Jack Welch's tenure at GE in the 1980s–90s is a canonical shareholder approach: he relentlessly cut costs, divested underperforming divisions, and quadrupled GE's share price, prioritising returns above all else.
Exam Focus
Name Milton Friedman when explaining the shareholder approach and note its legal boundary ('within the law') to show precise specification knowledge.
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