Business Questions
Stakeholders' Rights The concept of "stakeholder" is a simple one - which does not meanthat it is taken into account as often as it should be. The stakeholders inany situation are those who stand to gain or lose as a result of aparticular action. This includes both those who are directly involved,including a company's executives, its employees and its stockholders. Butit also includes those people who are not directly affected such as (forexample) people living near a factory. Corporate governance is one of those terms that most managers use but few can define precisely. Corporate governance is about how the organization achieves its purpose. It involves the meaning of organizations and how organizations fulfill their purpose. It has elements of leadership, stewardship, ethics, security, vision, direction, influence, and values. Corporate governance is about protecting stakeholder interests in the organization (http://www.mc2consulting.com/govloop.htm). Companies should consider the rights, needs, interests and power ofall stakeholders before making major decisions; this is n
To take up the moral objections first, one can argue (and this is theposition of the writer) that corporate social responsibility must bepracticed because it is the right thing to do. However, against that conventionalwisdom must be placed a number of objections, some practical, some moral. Organic farmers, for example, must charge more fortheir food. Moreover, beyond these moral considerations, it is simply not truethat corporate responsibility and profitability cannot be good partners forthe simple reason that consumers are interested in supporting companiesthat act ethically. com/reference/dictionary/entries/34/c0523 400. It is a commonplace assumption that high profit levels and corporate socialresponsibility cannot go hand in hand. This is all to the good, for corporate social responsibility is asimportant to a society as individual responsibility is to a family. Therights of a corporation, like those of an individual, only extend to thepoint where harm is done to someone else. Thereason for this is partly because those consumers feel that such produce isbetter tasting or healthier. And one of the most serious ways in which advertising influences people isthat advertising tends to pray upon women's self-esteem. ot simply anethical thing to do but it will also prevent legal and/or ethical problemsfrom arising later on. But the point that must beemphasized here is that good people act in responsible ways, and the limitsof responsibility do not end when one leaves one's home. Increased government regulation (brought about in direct response tocorporate irresponsibility) has limited everything from the safetyconditions of the workplace to the ways that companies must restore anyenvironmental damage that they inflict (www.
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Acceptance Essays
