Approaches to Stakeholder Impact Analysis When looking at the first scenario in appendix b we see that there is an obvious call for an ethical decision to be made. By addressing stakeholders and looking at each of the three separate approaches we can determine that the best decision and most ethical one is to allow the mall to be built in the space where the seniors’ nursing home and recreational center is. With the five question approach we see that; having the mall built in the town will
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situation. How might hiring decisions be influences inappropriately by this information? The stockholder theory is the oldest theory is held by contemporary business ethicists to be outdated and unacceptable as it reeks of rampant capitalism. Stakeholder theory holds that Managers although bound by their relation to stockholders have to also take into consideration the people that hold a stake or claim in the firm. If provided the wrong information by the computerized records this can cause a firm
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| |LEVEL 200 | | |PRINCIPLES OF MANAGEMENT | | |JENNIFER OPOKU BAAH
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Fundamentals of Management‚ 8e (Robbins et al.) Chapter 2 The Management Environment 1) One of Zappos’ key features is free returns on shoes that don’t fit. Answer: TRUE Explanation: An online shoe store needs to be allow customers to "try on" shoes. Zappos does this with free returns and no questions asked. Diff: 1 Page Ref: 29 Objective: 2.1 2) One element of Zappos’ success is that it has limited selection‚ focusing on quality rather than a great number of different brands and
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and with everyone involved)‚ simulations‚ and design suspicion report and incident report Re-assess the rules of business conduct (as above) and announce so that every stakeholder can follow Increase employee awareness & alarm system Establish complaints division – to review inaccuracies‚ correct errors. EXTERNAL STAKEHOLDERS Set up center to handle internal
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Freeman and Friedman offering opposing views to answer the question “What is business’s responsibility?” Freeman puts forth what he calls the “stakeholder theory” while Friedman advocates for the “stockholder theory.” Freeman’s stakeholder theory identifies different “stakes” that influence an organization. Each of these parts is integral to the well-functioning of the organization. Included in these categorizations are employees‚ shareholders‚ communities‚ and customers. Freeman advises organizations
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using three ethical principles of the Global Business Standards Codex. Type your responses in the boxes below: Full Harvard style reference Cragg‚ W & Greenbaum‚ A 2002‚ ‘Reasoning about Responsibilities: Mining Company Managers on What Stakeholders are Owed’‚ Journal of Business Ethics‚ vol. 39‚ no.3‚ pp.319-335‚ viewed 7 April 2014‚ Main argument and research
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Smart Act with urgency Remain responsive to change Have the courage to change course when needed Remain constructively discontent Work efficiently Act Like Owners Be the Brand Inspire creativity‚ passion‚ optimism and fun The main stakeholders in Coca Cola Company are: government‚ civil society‚ customers‚ investors‚ employees and
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Describe the different stakeholders who influence the purpose of two contrasting business. Stake Holders for Marks & Spencer’s and Pool Hayes Community School: 1. Customers 2. Management 3. Suppliers 4. Employees 5. Owners/Share holders 6. Trade Unions\Employer Associations 7. Local & National Communities 8. Environment 9. Government Customers are the most important stakeholders in Marks & Spencer’s as they are the people that by there products
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Stakeholder Impact Analysis To conduct a stakeholder impact analysis‚ one can begin by using the 5-question approach‚ the moral standard approach or Pastin’s approach. All three of these approaches have similar yet different stakeholder’s interests to examine. Under the first scenario‚ the mayor has a difficult decision to make. Should the mayor allow development of a large mall and resort that will displace 100 seniors? Under the 5-question approach‚ the mayor should ask whether the
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