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)

Business and Society: Ethics and Stakeholder Management, 5th edition employs a stakeholder management framework, emphasizing business' social and ethical responsibilities to both external and internal stakeholder groups. A twin theme of business ethics to illustrate how ethical or moral considerations are included the public issues facing organizations and the decision making process of managers. The text is written from a managerial perspective that along with the twin themes of stakeholders and ethics, shows how to identify stakeholders, incorporate their concerns into (...) the organization's strategy and operations, and also integrate ethical wisdom into their decision making process. In addition, 35 case histories are included to help connect theory and practice through timely and interesting examples. (shrink)

Marketers must first perceive ethics and social responsibility to be important before their behaviors are likely to become more ethical and reflect greater social responsibility. However, little research has been conducted concerning marketers' perceptions regarding the importance of ethics and social responsibility as components of business decisions. The purpose of this study is to develop a reliable and valid scale for measuring marketers' perceptions regarding the importance of ethics and social responsibility. The authors develop an instrument for the measurement of (...) the perceived role of ethics and social responsibility (PRESOR). Evidence that the scale is valid is presented through the assessment of scale reliability, as well as content and predictive validity. Finally, future research needs and the value of this construct to marketing are discussed. (shrink)

This paper reviews the relationship between organisational leadership, corporate governance and business ethics, and considers the implications for management. Business ethics is defined, and the causes and consequences of unethical behavior are discussed. Issues pertaining to leadership, subordinate and organisation responsibility for business ethics are considered. The changing role of business leaders and the new concept of ''corporate governance'' are examined, with an increasing importance being placed on ethical and socially responsible attitudes towards business. Organisational effectiveness and organisational efficiency, formerly (...) central issues for practising managers, with directors thinking in terms of goal achievement for their respective organisations, have now been augmented by an awareness of issues in business ethics, and a requirement for members of the corporate governance to behave in more socially responsible ways. A secondary aim of the paper is to introduce an approach which illustrates how corporate governance and management could deal with some of the moral dilemmas that they may have to face. (shrink)

Managers encounter difficulties in developing corporate social responsibility programmes. These difficulties arise from conflicting interests and priorities. Pressures may be both internal and external and corporate social responsibility programmes usually evolve from a combination of proactive and reactive policies. The first experiences of a company are likely to be reactive, in response to requests for equipment, sponsorship or charitable donations but companies soon become aware of the benefits of planned programmes. Planning implies objectives, performance criteria and evaluation, and a rational (...) framework for decision-taking. This paper attempts to highlight problem areas for managers and to develop a pragmatic framework of analysis which will help identify and clarify corporate social responsibilities. The paper, which is written from a UK perspective discusses the contribution of stakeholder models and highlights limitations of this approach. It develops an ethical framework focused on concepts of responsibility. (shrink)

This article summarizes the development of the stakeholder concept in the last decade. The academic debate has been dominated over the last ten years by the managerial version of the stakeholder concept. The case of Shell in Ogoniland is elaborated to demonstrate that the managerial version does not pay sufficient respect to other interpretations of the concept. The article criticizes this dominant interpretation and argues for the need of an ongoing — academic and practical — debate on organizing and ethics. (...) An ongoing "organizational stakeholder debate" is required. Social and ethical accounting, auditing, and reporting can be seen as one way to operationalize this notion of the "organizational debate", if it addresses the creation and diversity of moral meaning in the context of organizations. (shrink)

This study examines corporate publications of U.K. firms to investigate the nature of corporate social responsibility disclosure. Using a stakeholder approach to corporate social responsibility, our results suggest a hierarchical model of disclosure: from general rhetoric to specific endeavors to implementation and monitoring. Industry differences in attention to specific stakeholder groups are noted. These differences suggest the need to understand the effects on social responsibility disclosure of factors in a firm's immediate operating environment, such as the extent of government regulation (...) and level of competitiveness in the industry. (shrink)

Stakeholder management devices (SMDs) are the mechanisms through which organizations respond to stakeholder concerns. Given that SMDs serve as organizational control systems for employees and managers, this research investigates the internal rather than the external effects of a firm's SMDs. Unlike most previous research, I examined the effects of these formal structures, processes, and procedures in the aggregate, rather than focusing attention on a single type of device. The study investigates the effects of a firm's stakeholder management devices, in the (...) aggregate, on three factors that influence individual behavior in organizations: expectations, attitudes, and perceived organizational climates. Respondents were managers in 112 for-profit businesses located throughout the United States. Results suggest that a firm's stakeholder management devices affect the perceived moral climates in the firm, and affect managers' expectations about the consequences of good corporate social performance, but do not affect organization members' attitudes about corporate social responsibility. (shrink)

In this article, we examine the link between board composition and an enterprise strategy outcome, stakeholder relations. Because a firm’s enterprise strategy is set at the highest level of the organization, we expect the presence of stakeholder directors (suppliers, customers, employees, and community representatives) to be positively associated with stakeholder performance.Results from an analysis of 3,268 board members representing 250 firms are discussed in the context of both corporate governance and stakeholder management literatures.