Learning Objectives By the end of this section, you will be able to: Thus far, we have discussed stakeholders mostly as individuals and groups outside the organization. This section focuses on the business firm as a stakeholder in its environment…
Learning Objectives By the end of this section, you will be able to: If we carry the idea of stakeholder to the extreme, every person is a stakeholder of every company. The first step in stakeholder management, the process of accurately assessing stakeholder…
Learning Objectives By the end of this section, you will be able to: As we saw earlier in this chapter and in Why Ethics Matter, the law only partially captures the ethical obligations firms owe their stakeholders. A particular stakeholder claim, that is,…
Learning Objectives By the end of this section, you will be able to: Have you ever had a stake in a decision someone else was making? Depending on your relationship with that person and your level of interest in the…
Figure 3.1 Starbucks, based in Seattle, Washington, is a company with more than 250,000 employees and locations across the globe. It directly affects countless stakeholders beyond its institutional investors and millions of customers, from coffee growers and milk producers, to urban and…
The Concept of Ethical Business in Ancient Athens The role of ethics in Athens during Greece’s Golden Age (fifth century BCE) was substantial. Aristotle focused on the role of virtue in developing individual character and social stability. He believed a…
Learning Objectives By the end of this section, you will be able to: This chapter began with an image of Justice holding aloft scales as a symbol of equilibrium and fairness. It ends with an American political philosopher for whom…
Learning Objectives By the end of this section, you will be able to: Unlike Bentham and Mill, Immanuel Kant (1724–1804) was not concerned with consequences of one’s actions or the harm caused to one’s individual interests. Instead, he focused on motives and…
Learning Objectives By the end of this section, you will be able to: Although the ultimate aim of Aristotelian virtue ethics was eudaimonia, later philosophers began to question this notion of happiness. If happiness consists of leading the good life, what…
Learning Objectives By the end of this section, you will be able to: Aristotle and Confucius each constructed an ethical system based on virtue, with Aristotle’s ultimate aim being happiness and Confucius’s being harmony. Each addressed a particular problem. For Aristotle, happiness consisted…