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"The managers of corporations have obligations to their shareholders, but they have obligations to other stakeholders as well. In particular, they have obligations to consumers and the surrounding community as well as their own employees" - Discuss.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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"The managers of corporations have obligations to their shareholders, but they have obligations to other stakeholders as well. In particular, they have obligations to consumers and the surrounding community as well as their own employees" (From: R. C. Solomon, 'Business Ethics', within P. Singer (ed.), A Companion to Ethics (Oxford: Blackwell Publishing, 1991), p. 361). To successfully discuss the above statement I will have to define the term business ethics and what role it plays in business today. I will have to distinguish between shareholders and stakeholders and how business responsibility differs from each entity. First of all what is meant by the term business ethics. Whenever confronted by an unfamiliar subject we must define the term that will be at the centre of the discussion. Business ethics is merely the combination of two simple words. Just the same as medical ethics means the correct code of practice within the medical...
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