Chapter_3_Identifying_Stakeholders_and_Issues

Chapter_3_Identifying_Stakeholders_and_Issues - BUS306002

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BUS 306-002  Ethics in Decision Making Chapter 3:  Identifying Stakeholders and Issues George Z. Peng
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Learning Objectives The purpose of this chapter is to ensure that  students learn to identify stakeholders  of the  corporation generally and in relation to  particular issues  confronting the corporation
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3.1 The Stakeholder Concept and Business Business operates in a pluralistic  social  system. (A pluralistic society is one where  influence or power is decentralized by  dispersing it among a variety of institutions.) Business, as one institution in society, has an  influence and/or is influenced by many other  individuals or organizations in society.
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3.2 Defining a Stakeholder Stake holders are defined as individuals, or groups, who  can influence AND/OR is influenced by the achievement  of an organization’s purpose.  Also know as claimants, influencers, publics,  constituencies. If you cannot define them, you cannot identify and  manage them. Freeman argues that managers must seek out  stakeholders manage them in a systematic fashion.  Stakeholders do not always identify themselves!
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3.3 Identifying Stakeholders  Q: Why do we need to identify stakeholders?
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3.3 identifying Stakeholders  To obtain resources (Resource Dependent 
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Chapter_3_Identifying_Stakeholders_and_Issues - BUS306002

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