Answer according to Jensen, M.C. and Meckling, W.H. (1976). The theory of the firm: managerial behaviour, agency costs and ownership structure. Journal of Financial Economics, 3(3), 305-60.* Title:Critically evaluate whether organisations are run in the interests of shareholders or stakeholders? Q1.What is the purpose of an organisation? Q2.Do organisations exist to maximise shareholder value or increase stakeholder value? Q3.Does a focus on CSR and ESG (environmental, social, and governance) improve or detract from company performance? Q4.Why have corporate governance codes had little impact in preventing corporate failures? NOTE:Apply strategy concepts, frameworks and models