Final answer:
Two well-developed viewpoints that have arisen regarding the goal of a firm are shareholder primacy and stakeholder theory. Shareholder primacy focuses on maximizing shareholder wealth, while stakeholder theory promotes a broader perspective that considers the impact of business decisions on various stakeholders.
Step-by-step explanation:
Two well-developed viewpoints that have arisen regarding the goal of a firm are shareholder primacy and stakeholder theory. Shareholder primacy argues that a firm's managers should act solely in the interests of shareholders, promoting their interests and increasing shareholder wealth.
This view sees shareholders as the primary stakeholders and executives as responsible for running the firm in their best interests. On the other hand, stakeholder theory argues that managers should balance the interests of all stakeholders, including employees, customers, suppliers, and communities, using corporate revenue in the interests of all stakeholders.