Business and Society
model focuses on the business firm as the center of a relationship with individuals and those with a vested interest in the firm and its activities called stakeholders. ... The pluralist theory of business power that holds that business power is exercised in a society where other institutions such as markets, government, labor unions, advocacy groups, and public opinion also have great power. This theory also holds that business power is counterbalanced, restricted, controlled, and subject to defeat. The dominance theory of business power holds that business is preeminent in American society, primarily because of its control of wealth, and that its power is both excessive and inadequately checked. ... The dominance theory is what is prevalent in our society, although difficult to prove. ... The story of the British activist and McDonalds illustrates the one important fact that most times business and corporations cannot come to a compromise.