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)

The purpose of this paper is to enter the conversation about stakeholder theory with the goal of clarifying certain foundational issues. I want to show, along with Boatright, that there is no stakeholder paradox, and that the principle on which such a paradox is built, the Separation Thesis, is nicely self-serving to business and ethics academics. If we give up such a thesis we find there is no stakeholder theory but that stakeholder theory becomes a genre that is quite rich. (...) It becomes one of many ways to blend together the central concepts of business with those of ethics. Rather than take each concept of business singly or the whole of “business” together and hold it to the light of ethical standards, we can use the stakeholder concept to create more fine-grained analyses that combine business and ethics; or more simply, we can tell many more, and more interesting, stories about business. (shrink)

Launched by the United Nations in 2000, the Global Compact (GC) promotes private sector compliance with 10 basic principles covering human rights, labour standards, the environment, and anti-corruption. Its sponsors aim to establish a global corporate social responsibility (CSR) network based on a pledge to observe the 10 principles adopted by companies across the range of company size and regional origin, backed by a modest reporting system and collaborative programmes. The author analyzes the GC's progress toward building a global network (...) from its launch through 2006 and finds that, while the GC's nominal membership base of nearly 3000 companies makes it the largest system among collective action institutions (CAIs) for corporate responsibility, the GC has not reached 'critical mass'. Deficiencies in its nascent global network include limited market penetration among the largest corporations, a membership heavily weighted toward Western European companies, and major weaknesses in compliance with its reporting system. The author concludes that the GC must improve both penetration and compliance if it is to succeed in building a global standard for CSR. (shrink)

Taking a fundamentally critical approach to the subject of business ethics, this book deals with the traditional material of ethics in business, as well as introducing and surveying some of the most interesting developments in critical ethical theory which have not yet been introduced to the mainstream. Including chapters on different philosophical approaches to ethics, this is a highly structured and clearly written textbook, the first book of its kind on this often neglected aspect of business.

Launched by the United Nations in 2000, the Global Compact (GC) promotes private sector compliance with 10 basic principles covering human rights, labour standards, the environment, and anti‐corruption. Its sponsors aim to establish a global corporate social responsibility (CSR) network based on a pledge to observe the 10 principles adopted by companies across the range of company size and regional origin, backed by a modest reporting system and collaborative programmes. The author analyzes the GC's progress toward building a global network (...) from its launch through 2006 and finds that, while the GC's nominal membership base of nearly 3000 companies makes it the largest system among collective action institutions (CAIs) for corporate responsibility, the GC has not reached ‘critical mass’. Deficiencies in its nascent global network include limited market penetration among the largest corporations, a membership heavily weighted toward Western European companies, and major weaknesses in compliance with its reporting system. The author concludes that the GC must improve both penetration and compliance if it is to succeed in building a global standard for CSR. (shrink)

The way in which accountability is currently employed in business ethics practice is based on a few central assumptions. It is assumed, for instance, that ethical failures result from the deliberate, rational decision-making of moral agents. A second important assumption is that there is a direct cause and effect relationship between the decisions and actions of individuals and the consequences of those decisions. Furthermore, the current approach towards accountability failures relies on the ability on legal sanctions to deter agents from (...) ethical lapses. This paper will argue that these three assumptions do not survive critical interrogation and that our understanding of accountability therefore has to be reconsidered. It will propose that accountability be reconceived as a relational responsiveness towards stakeholders. (shrink)