An alternative view to the ‘stockholder model’ exemplified by Friedman’s article is the stakeholder model. According to this approach, business managers have responsibilities to all the groups of people with a stake in or an interest in or a claim on the firm. These will include employees, suppliers, customers and the local community, as well as the stockholders. Proponents of the of stakeholder approach argue that all these groups should be represented on a company’s board of directors