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
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
Stakeholders ‘are those individuals or groups that have an interest in what the organisation does. The stake holders can be within the organisation, connected to the organisation or external to the organisation.’ (F1,BPP Learning Media) There are three different types of stake holders in an organisation; 1. Internal stakeholders The internal stakeholders of the companies would be the shareholders, employees, managers and directors.
In order to operate ethically in a global marketplace, corporations like Exxon Mobil need to define the conduct that they expect from their officers, executives, managers and employees. Without a defined code of conduct, employees feel forced to use their personal mores to determine what actions they should take in ethically ambiguous situations. Like children on a playground, employees need to know where the fences are so that they can work effectively.
A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. There are two different types of stakeholders; internal and external. Internal stakeholders are groups within the business e.g owner/workers and employees. External stakeholders are local and national communities and governments, these are groups outside of the business.
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.
Stakeholders include any person or groups who are directly or indirectly influenced by the project, and also those who are interested in a project or have ability to influence the outcomes of the project that can be either positive or negative. For E-tickit.com major stakeholders and their roles and work descriptions are listed
In the IT and business field, the stakeholders can be many different people. Talks of tech have a great definition of stakeholders stating that: "Any person who has interests in an existing or
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
Stakeholders are anyone who has a interest or influences the business in anyway. There are two
“Stakeholders (or interest groups) are tangible, visible and approachable groups or institutions which have a direct influence on the functioning of an organisation.”
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