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Essay / Research Paper Abstract
A 5 page paper arguing that operating in such a way as to gain maximum benefit for all stakeholders is a means of achieving greater benefit for shareholders, that shareholders gain greater value as the result of ethical business than when they are the focus of all business decisions. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: CJ6_KScorpSocRespo.rtf
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that business had changed nearly as much as it was going to, that the dramatic changes that had occurred in the preceding decade had fixed business in a general direction
and with a general focus. That was before many turns of events, however, such as the 9/11 terrorist attacks; amazing technological advances; new international business risks; the Wall Street
meltdown; the US rush to socialist thinking and programs; increased - and real - attention to environmental issues on a long-term basis; and a host of other factors that affect
business now and will affect it in the future. Freeman (year) states that "Laissez-faire capitalism is simply a myth" (59), that the idea
of operating a business for the purpose of "maximizing value for stockholders ... is one that has outlived its usefulness" (59). That statement is only partially true, as is
Freemans (year) assertion that corporate social responsibility (CSR) has no place in the business that operates for the benefit of all stakeholders, rather than only for shareholders. Operating in
such a way as to gain maximum benefit for all stakeholders is a means of achieving greater benefit for shareholders. Defining Stakeholders As
the globalization of business continues to progress and the world economy continues to emerge, the concept of stakeholders in corporate decision-making becomes more complex with each passing year. Stakeholders
nearly always include the organization, its investors, its employees and the local community in which it operates. This was true for the small towns only blacksmith, and it remains
true for every Super Wal-Mart in each of the companys locations of those stores. National and international reach complicates the matter, however, often blurring distinctions not only of who
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