Stakeholder Relationships, Social Responsibility, and Corporate Governance - PowerPoint PPT Presentation

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Stakeholder Relationships, Social Responsibility, and Corporate Governance

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Ethical Decision Making for Business 8e Fraedrich/ Ferrell/Ferrell C H A P T E R 2 CHAPTER 2 Stakeholder Relationships, Social Responsibility, and Corporate Governance – PowerPoint PPT presentation

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Title: Stakeholder Relationships, Social Responsibility, and Corporate Governance


1
Ethical Decision Making for Business 8e
Fraedrich/ Ferrell/Ferrell
C H A P T E R 2
CHAPTER 2
  • Stakeholder Relationships, Social Responsibility,
    and Corporate Governance

2
Chapter Objectives
  • To identify stakeholders roles in business
    ethics
  • To define social responsibility
  • To examine the relationship between stakeholder
    orientation and social responsibility
  • To delineate a stakeholder orientation in
    creating corporate social responsibility
  • To explore the role of corporate governance in
    structuring ethics and social responsibility in
    business
  • To list the steps involved in implementing a
    stakeholder perspective in social responsibility
    and business ethics

3
Chapter Outline
  • Stakeholders Define Ethical Issues in Business
  • Social Responsibility and the Importance of a
    Stakeholder Orientation
  • Social Responsibility and Ethics
  • Corporate Governance Provides Formalized
    Responsibility to Stakeholders
  • Implementing a Stakeholder Perspective

4
Relationships and Business
  • Building relationships is one of most important
    areas in business today
  • Stakeholder framework
  • Helps identify internal and external stakeholders
  • Helps monitor and respond to needs, values, and
    expectations of stakeholder groups

5
What Is a Stakeholder?
  • Customers
  • Investors
  • Employees
  • Suppliers
  • Government agencies
  • Communities

6
Primary vs. Secondary Stakeholders
  • Primary stakeholders Those whose continued
    association is necessary for a firms survival
  • Secondary stakeholders Are not essential to a
    companys survival

7
Social Responsibility and Ethics
  • Social responsibility can be viewed as a contract
    with society
  • Economic
  • Legal
  • Ethical
  • Philanthropic
  • Business ethics involves carefully thought-out
    rules (heuristics) of conduct that guide decision
    making

8
Corporate Governance
  • Accountability
  • Oversight
  • Control
  • Shareholder model
  • Stakeholder model

9
Implementing a Stakeholder Perspective
  1. Assessing the corporate culture
  2. Identifying stakeholder groups
  3. Identifying stakeholder issues
  4. Assessing organizational commitment to social
    responsibility
  5. Identifying resources and determining urgency
  6. Gaining stakeholder feedback
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