Final answer:
The idea that corporate issues reflect differing views on actions based on stakeholder or management expectations is true, indicative of debates between shareholder primacy and stakeholder theory. These discussions highlight how corporate responsibility has evolved from minimal intervention to significant legal and ethical considerations in today's society.
Step-by-step explanation:
The statement that an issue is a point in question where different views are held of what ought to be done by the corporation, based on stakeholder or management expectations is true. This is reflective of the ongoing debate between the shareholder primacy theory, which posits that a corporation's main duty is to increase the wealth of its shareholders, and the stakeholder theory, which advocates for balancing the interests of all stakeholders involved in the firm. The interests at stake can encompass financial returns for shareholders, as well as broader considerations such as employee welfare, community impact, and ethical behavior.
Historically, the concept of corporate responsibility has evolved significantly. Initially, economists like Adam Smith favored limited government intervention in business. However, with the advent of the Industrial Revolution and the resulting hazardous work conditions, the need for greater workplace safety and workers' rights came into the spotlight, leading to the creation and enforcement of labor laws. Today, the moral and legal responsibilities of corporations continue to be a subject of intense scrutiny and discussion, particularly in the United States.