As private equity firm Bain Capital acquires half of Toms, we see the fusion of two widely contrasting cultures of thought. Bain Capital could perhaps be best characterized as profit-driven and lacking a “social conscience.” Indeed, one could contend that the company is an accurate representation of Friedman’s views on corporate social responsibility; that the sole responsibility of the corporate executive is to “make as much money as possible while conforming to the basic rules of society.” Juxtaposed against Bain Capital is Toms, which adheres to Freeman’s stakeholder theory, championing the principle that “for-profit and a bottom-line focus didn’t have to be in conflict with for-good.” Founder Blake Mycoskie, and by extension Toms as a whole, accepts Freeman’s notion that the modern company has a responsibility not merely responsible to the “financiers,” as Friedman proposes, but also to the “customers, suppliers, employees, and community.” By investing in Toms, it would appear that Bain Capital is buying into Freeman’s “stakeholder theory,” and endeavouring to become a more socially responsible corporation. However, one might allege that Bain Capital is using the “cloak of social responsibility” to promote profits, the firm itself noting that Freeman’s stakeholder theory “has deep, real resonance with the consumer.” Whether Bain Capital is genuinely invested in helping the community, or merely pursuing profits, it is abundantly clear that corporate social responsibility plays a pivotal role in today’s business world.

Rupp, Lindsey, and Devin Banerjee. “Toms, the Company That Donates a Pair of Shoes for Every Pair It Sells, Just Sold a 50% Stake to Bain Captial.” Financial Post. Financial Post, n.d. Web. 12 Sept. 2014. http://business.financialpost.com/2014/08/21/toms-shoes-bain-capital/