Much has been written about stakeholder analysis as a process by which to introduce ethical values into management decision-making. This paper takes a critical look at the assumptions behind this idea, in an effort to understand better the meaning of ethical management decisions.A distinction is made between stakeholder analysis and stakeholder synthesis. The two most natural kinds of stakeholder synthesis are then defined and discussed: strategic and multi-fiduciary. Paradoxically, the former appears to yield business without ethics and the latter appears (...) to yield ethics without business. The paper concludes by suggesting that a third approach to stakeholder thinking needs to be developed, one that avoids the paradox just mentioned and that clarifies for managers (and directors) the legitimate role of ethical considerations in decision-making. (shrink)

This third edition offers increased coverage of sustainability and more chances for illustration and discussion of ethics in the messy day to day practicalities ...

This paper provides an overview of the contemporary debate on the concepts and definitions of Corporate Social Responsibility (CSR) and Corporate Sustainability (CS). The conclusions, based on historical perspectives, philosophical analyses, impact of changing contexts and situations and practical considerations, show that "one solution fits all"-definition for CS(R) should be abandoned, accepting various and more specific definitions matching the development, awareness and ambition levels of organizations.

The author proposes sustainability as the criterion for business ethics. The argument here is that in today’s world, business success depends on sustainability. This in turn depends on respect for the environment, employees, customers and stakeholders at large. Thinking about ethics in terms of sustainability involves thinking about ethics in strategic terms. Indeed sustainability could and should be raised to the status of a global ethic. There is evidence to show that corporate social responsibility pays; e.g. the Dow Jones sustainability (...) group index outperformed the Dow Jones index by 36% over the past three‐year period. This suggests that taking ethics seriously goes hand in hand with successful business. (shrink)

The author proposes sustainability as the criterion for business ethics. The argument here is that in today’s world, business success depends on sustainability. This in turn depends on respect for the environment, employees, customers and stakeholders at large. Thinking about ethics in terms of sustainability involves thinking about ethics in strategic terms. Indeed sustainability could and should be raised to the status of a global ethic. There is evidence to show that corporate social responsibility pays; e.g. the Dow Jones sustainability (...) group index outperformed the Dow Jones index by 36% over the past three‐year period. This suggests that taking ethics seriously goes hand in hand with successful business. (shrink)