Background Morgan Stanley is a global financial services company. Through its subsidiaries and affiliates, the company provides a wide variety of products and services to a large group of customers, including corporations, governments, financial institutions, and individuals. (“Morgan Stanley’s Annual Report”, 2016, p. 1). According to the company’s 10-K report, Morgan Stanley’s core value is described as “Putting Clients First, Doing the Right Thing, Leading with Exceptional Ideas and Giving Back.”. The company has established standards and measures to hold employees accountable for conducting themselves in accordance with these core values, such as new hire training, annual ethics training, etc. (p. 78). In October 2016, Morgan Stanley was charged with operating an unethical, high-pressure sales competition in order to boost its sales. This internal contest led financial advisers to sell security-based loans to the customers to receive the incentives based on a number of loans sold. The incentives were: $1,000 for 10 loans, $3,000 for 20 loans, and $5,000 for 30 loans. In many cases, the clients did not need the offered products or services (Salazar, 2014, Herbst-Bayliss, 2016). Stakeholder Theory According to Smith (2003) and Schmidt (2012), stakeholders are anyone who contributes and is affected by the business capacity and activities, such as shareholders, customer, employees, suppliers, and local communities (p. 86). Morgan Stanley’s sales contest is an example
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Stakeholders are people that have an interest in the success of business and play a role in the survival of that business. They tend to submit monthly amounts of money
The company expects a high-level integrity from all of its employees due to the nature of the business it’s in. Which is the financial industry? – JP Morgan Chase shares its code of conduct with its heritage and why it is important to set the highest ethical standards in all of the business. Moreover, the company sets a high standard for managers to supervise and properly channel any
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The stakeholder theory made popular by Ed Freeman (1984) does seem to represent a major advance over the classical view (Freeman, 1984). It might seem inappropriate to refer to the stakeholder position as neoclassical. Bowie (1991: 56-66) has defined stakeholders as a group whose existence was necessary for the survival of the firm--stockholders, employees, customers, suppliers, the local community, and managers themselves.
Stakeholders have a significant influence on the aims of an organisation. They are the people who are affected by or interested in the business. In some organisations the shareholders are stakeholders, and at times have some of the decision power. In trade organisations, customers are also considered stakeholders; therefore their needs are part of the organisation’s overall objectives.
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A stakeholder is someone who someone who benefits or is burdened by a corporation, or someone who the corporation benefits or is burdened by. (Steiner). Stakeholders are represented by two main groups; primary and secondary
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Stakeholders are people or groups with interest in an organization that can affect or be affected by the organization itself, its objectives, or its policies (BusinessDictionary, 2015). Each stakeholder brings their own perspective to the table based on their relationship with the organization (e.g. internal or external role), their level of experience, and their area of expertise about the subject matter they are involved with. At a high level, the list of stakeholders for any organization could include people or groups such as: customers, employees, government agencies, suppliers, unions, community resources, shareholders, and business owners. For the purpose of this assignment, I will discuss and review stakeholders relative to the
The (word) stakeholder means any person with an interest in business, someone who can contribute to the company grows and success or who benefits from its success. The various stakeholders in business have differing role and their level of involvement in the enterprise varies
Stakeholders can be defined as a person, group, organization, or system that affects or can be affected by an organization’s actions. Examples of stakeholders in accounting are; owners, suppliers, customers, government, employees, creditors, and labor unions. These people are classified into four categories; Capital Market, Product or Service Market, Government, and Internal Stakeholders. Capital Market Stakeholders provide the major financing for the business to begin and continue its operations. Some examples of the stakeholders are banks and owners. Product or Service Market Stakeholders are buyers of products or services and vendors to the business. Examples of Product or service market