Chap2 - BusinessEthics CHAPTER2...

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CHAPTER 2 STAKEHOLDER AND ISSUES MANAGEMENT  APPROACHES Business Ethics Dr. Truong Thi Nam Thang
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Stakeholder Management Approach Defined The stakeholder approach  provides a framework that enables users to  map and ideally, manage the corporation’s relationships, both present  and potential, with groups to reach win-win collaborative outcomes It does not have to result from a crisis or controversial situation It can be used as a planning method to anticipate and facilitate  business decisions, events and policy outcomes. Business units, teams, and groups can use this approach Stakes : any interest, share or claim that a group or individual has in the  outcome of a corporation’s policies, procedures, or action toward others. Stakeholder : any individual or group who can affect or is affected by the  actions, decisions, policies, practices, or goals of the organization The stakeholder approach   is a pragmatic way of identifying and  understanding multiple, often competing, political, social, level, economic  and moral claims of many constituencies. Dr. Truong Thi Nam Thang
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FIRM Owners  Employ ees  Custom ers Supplier s Special interest  groups Consumer  groups Environmental  groups Society at  large Media Local community  groups Primary  stakeholder s Secondary  stakeholder s Dr. Truong Thi Nam Thang
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Stakeholder Analysis The stakeholder analysis is an  analytical method  where no prescribed  ethical principles or responsibility rules are built-in Ethical reasoning  in the stakeholder analysis means asking:   What is equitable, just, fair, and good for those who affect and  are affected by business decisions? Who are the weaker stakeholders in terms of power and  influence? Who can, who will, and who should help weaker stakeholders  make their voices heard and encourage their participation in  the decision process and outcomes?   The  stakeholder analysis  is a series of steps aimed at the following  tasks: 1.Mapping stakeholder relationships
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This note was uploaded on 11/16/2011 for the course ECON 101 taught by Professor Tom during the Spring '11 term at FH Joanneum.

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Chap2 - BusinessEthics CHAPTER2...

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