Answered: Assignment Question: Stakeholder Theory…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Assignment Question: Stakeholder Theory and Business Ethics Framework

Background:

Stakeholder theory posits that organizations should consider the interests of all stakeholders—groups or individuals that can affect or are affected by an organization's objectives—when making decisions. Business ethics, on the other hand, revolves around moral principles and values that guide behavior in the world of business. Together, the stakeholder theory and business ethics provide a robust framework for organizations to make ethical decisions that account for a wide range of interests.

Objective:

Your task is to critically analyze a real-world business scenario using both the stakeholder theory and a business ethics framework.

Instructions:

Select a Business Scenario: Choose a recent, real-world business decision or event from a well-known company. This can be positive (e.g., a company taking action to address environmental concerns) or negative (e.g., a company facing a scandal or criticism for its actions).

Identify Stakeholders: List the key stakeholders involved in this scenario. Describe their interests, concerns, and potential influence on the company's decisions.

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