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Explain the difference between Milton Friedman and Archie Carroll's approaches to the responsibilities of business.
Environmental Constraints
External limitations or conditions that affect an individual's or organization's ability to function or achieve goals.
Objective Environment
The actual, measurable elements in an environment, independent of personal feelings or interpretations.
Strategy Formulation
The development of long-term plans and policies to achieve specific objectives and to manage the direction of a company or organization.
Specific Tasks
Particular jobs or duties assigned to an individual or team.
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