1.Friedman's (1953) essay addressed some of the early criticisms of the theory of the firm. What were these criticisms and how did he address them? What effect may his essay have had on research related to the firm?

2.How did the textile mills, steel, railroads, large retailers and high-tech firms push the development and growth of the firm? What new demands were imposed on accounting reporting and control systems? How did advances in technology impose new risks?

3.What was the purpose of early universities in Europe and the U.S.? How did Benjamin Franklin's vision for his new university differ? How did the vision and structure of the new research university affect the university-based business school (UBBS)?