Stakeholder Theory and Organizational Ethics

Recent corporate scandals have brought attention to business ethics, yet there are few books available that cover an important aspect of this topic. In this timely study of organizational ethics and stakeholder theory - which holds that business is beholden not only to shareholders but also to customers, employees, suppliers, management, and the community - Robert Phillips challenges the idea that the theory has no ""moral underpinnings"" and suggests useful ways to define which groups are or are not legitimate stakeholders. This study is based on the work of John Rawls, the most widely cited moral and political philosopher of the 20th century. Business ethics is a staple in the news today. One of the most difficult ethical questions facing managers is to whom are they responsible? Organizations can affect and are affected by many different constituencies—or “stakeholders”—but who are these stakeholders? What sort of managerial attention should they receive? Is there a legal duty to attend to stakeholders or is such a duty legally prohibited due to the shareholder wealth maximization imperative? In short, for whose benefit ought a firm be managed?Stakeholder Theory and Organizational Ethics provides the most comprehensive, theoretical treatment of the stakeholder framework to date. Robert Phillips provides an extended defense of stakeholder theory as the preeminent theory of organizational ethics today. Business ethics is a staple in the news today. One of the most difficult ethical questions facing managers is to whom are they responsible? Organizations can affect and are affected by many different constituenciesor stakeholdersbut who are these stakeholders? What sort of managerial attention should they receive? Is there a legal duty to attend to stakeholders or is such a duty legally prohibited due to the shareholder wealth maximization imperative? In short, for whose benefit ought a firm be managed? Stakeholder Theory and Organizational Ethics provides the most comprehensive, theoretical treatment of the stakeholder framework to date. Robert Phillips provides an extended defense of stakeholder theory as the preeminent theory of organizational ethics today. Robert Phillips Provides A Detailed Analysis Of The Current Controversies In Stakeholder Theory And Examines Several Controversial Candidates For Stakeholder Status - Including Competitors, Activists, And The Natural Environment - And Provides A Means For Determining Who Are And Are Not Stakeholders And Why.--jacket. Stakeholder Theory And Organizational Dogma -- The Limits Of Stakeholder Theory -- Why Organizational Ethics? -- Stakeholder Theory And Its Critics -- A Principle Of Stakeholder Fairness -- Stakeholder Legitimacy -- Stakeholder Identity -- Stakeholder Theory In Practice. Robert Phillips. Includes Bibliographical References (p. 180-190) And Index.