compensation for managers. This resulted in a shift in managers’ views of corporate responsibility wherein they neglected the concept of balancing stakeholder interests and focused on maximizing shareholder wealth (p. 207). The result of this management doctrine is demonstrated in corporate scandals like ENRON and WorldCom and in its contributions to the global financial crisis of 2008. Conversely, Horisch, Freeman, and Schaltegger (2014), examine a different approach. Their study integrates the descriptive, normative, and instrumental, views of stakeholder theory into a holistic model of the “normative stakeholder theory” (2014, para. 7). The application of their model, demonstrated that managers employing normative stakeholder theory are able to achieve broader, mutual sustainability of stakeholder interests (para. 36). 3
DISCUSSION FORUM Through a Biblical Lens How we relate to our fellow stakeholders in every aspect of life is an integral part of our relationship with God. In Colossians 3:23-24, Paul tells us, “Whatever you do, work at it with all your heart, as working for the Lord, not for human masters, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving (New International Version [NIV]). As image bearers of God, the why of anything we do is that it is for His glory, including our role as managers.
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- Summer '14
- Business Ethics, Lawrence & Weber