Andre Vasconcelos Reading Assignment – Stakeholder Theory Professor Juan Carlos Orejarena Business Ethics 10/26/2012 Chapter 7 of the book “Stakeholder Theory: The State of the Art” discusses how stakeholder theory is employed in the realm of business ethics. The stakeholder theory has become an essential part of business ethics studies‚ and this chapter made a point to connect its normative pillars‚ to the main ideas behind business
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Abstract Stakeholder Theory and Legitimacy Theory are both appropriate models to describe organisational behaviour to produce corporate voluntary sustainability reporting. However‚ both theories did not fully meet the conceptual requirements. Therefore‚ based on the historical roots‚ this paper critiques its current form and gives suggestions that may be taken to satisfy the requirements. Introduction This research paper provides an overview of the purpose of Corporate Sustainability Reporting
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not‚ be considered a Stakeholder Stakeholders are those groups from whom the organization has voluntarily accepted benefits‚ and to whom the organization has therefore incurred obligations of fairness. Typically‚ this includes groups such as financiers‚ employees‚ customers‚ suppliers and local communities. I believe that managers should not be considered stakeholders. Managers should acknowledge and actively monitor the concerns of all legitimate stakeholders‚ and should take their
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upon the theories outlined in class – e.g. the various ethical theories‚ institutional and stakeholder theories. For each issue‚ you may draw upon a variety of theories – i.e. present a number of analyses of the nature and degree of a firm’s responsibilities‚ each of which draws upon a different theory – or draw upon a single theoretical approach – i.e. present an analysis of the nature and degree of a firm’s responsibilities that draws upon institutional theory or stakeholder theory or a
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Vedpathak (940126-P152) The main stakeholders of football clubs‚ their ’stake’ in the organization and legitimacy of their interests. Some European football clubs have in‚ approximately in the last three decades‚ developed from being relatively small local organizations‚ into global giants in terms of multi-million businesses supported and followed by millions of stakeholders from all over the world. How does one relate stakeholder theory on the world of football? “A stakeholder of a corporation is an individual
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Management Decision Stakeholder theory: issues to resolve Emerson Wagner Mainardes Helena Alves Mario Raposo Downloaded by UNIVERSITI UTARA MALAYSIA At 05:21 20 November 2014 (PT) Article information: To cite this document: Emerson Wagner Mainardes Helena Alves Mario Raposo‚ (2011)‚"Stakeholder theory: issues to resolve"‚ Management Decision‚ Vol. 49 Iss 2 pp. 226 - 252 Permanent link to this document: http://dx.doi.org/10.1108/00251741111109133 Downloaded on: 20 November 2014‚ At: 05:21 (PT) References:
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Stakeholder Theory and Limitation 1. Stakeholder theory is an excuse for managerial opportunism: The core claim is that by providing more groups who management can argue their actions benefit‚ stakeholder theory makes it far easier to engage in self-dealing and defend it than if shareholder theory were the sole purpose. 2. Stakeholder theory is primarily concerned with distribution of financial outputs: This view depicts stakeholder theory as primarily about who receives the resources of the organization
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investors 8 Panelists: Michael Jensen‚ Harvard Business School; Ron Naples‚ Quaker Chemical Corporation; Trevor Harris‚ Columbia University; and Don Chew‚ Morgan Stanley. Moderated by John Martin‚ Baylor University. Value Maximization‚ Stakeholder theory‚ and the Corporate Objective Function 32 Michael Jensen‚ Harvard Business School the Modern industrial Revolution‚ Exit‚ and the Failure of internal Control Systems 43 Michael Jensen‚ Harvard Business School Just Say No to
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A: Explain stakeholder theory and give four examples of stakeholders. (1): Stakeholder theory is about identifying the groups who are stakeholders in a corporation and need to be managed. It emphasizes that the company should not only pursue the interest of the shareholders (not only act for the financial benefits)‚ but also run for the benefit of both their owners and stakeholders. It suggests the purpose of the firm is to serve broader societal interests beyond economic value creation for shareholders
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central questions in the field of business ethics. There are two approaches to answering such questions. The first one is Milton Friedman’s shareholder theory of management and the second one is Edwards Freeman’s “Stakeholder” theory of management‚ two different views about the purpose and aims of a business. Milton Friedman’s shareholder theory of management says that the purpose of a business is to make money for the owner or the stockholders of the business. Friedman says that there is only one
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