By Archie B. Carroll
Company AND SOCIETY: ETHICS AND STAKEHOLDER administration makes use of a considerate presentation of state of the art study in addition to 37 case histories to aid scholars comprehend the relationships among enterprise and society stakeholders. The managerial viewpoint of this article emphasizes the dual subject matters of stakeholders and ethics. It indicates scholars the right way to combine moral concerns into all their decision-making. this article employs a stakeholder administration framework that emphasizes business's social and moral duties to either inner and exterior stakeholders.
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Additional resources for Business and Society: Ethics and Stakeholder Management
This traditional view holds that management has one responsibility: to maximize the profits of its owners or shareholders. 20 Further, this view holds that if the free market cannot solve the social problem, then it falls upon government and legislation to do the job. ” 21 When Friedman’s entire statement is considered, it appears that he accepts three of the four categories of the four-part model—economic, legal, and ethical. The only item not specifically embraced is the voluntary or philanthropic category.
I knew that this could not be ethical behavior, because it was not being honest with the customer. Most of the time the fish was not so bad, but should I have done something for the few times that it was? How could I have kept my job while still being ethical? 1. Is this a socially responsible fish company? Why or why not? 2. Which of the four kinds of social responsibility (economic, legal, ethical, or philanthropic) comes into play here? Where are the greatest tensions between or among the different types of CSR?
One leading organizaabsolutes, areas in which all firms must be tion that companies join to learn more about CSR is Business responsible? Yes, there are, and these are exfor Social Responsibility (BSR). BSR is a national business association that helps companies seeking to implement polipressed by those expectations society has transcies and practices that contribute to the companies’ sustained lated into legal aspects of the social contract. But and responsible success. BSR also operates the Business for as we will suggest here, CSR goes beyond simply Social Responsibility Education Fund, a nonprofit research, abiding by the law (although abiding by the law is education, and advocacy organization that promotes more not always simple).
Business and Society: Ethics and Stakeholder Management by Archie B. Carroll