Question

According to the Kiechel article - the purpose of management strategy changed to one focused on creating shareholder wealth during what period of time. Note: select the best answer based on your reading of the Kiechel article.

Answer 1

Answer:

in 1951

Explanation:

in 1951 the chairman of Standard Oil of New Jersey had proclaimed, “The job of management is to maintain an equitable and working balance among the claims of the various directly affected interest groups…stockholders, employees, customers, and the public at large.” Sometimes labeled “stakeholder capitalism,” this broader-minded conception would be steadily chipped away at by partisans of “shareholder capitalism,” to the point that it almost disappeared from discussions of corporate purpose.