Stakeholder theory

5 Accounting Practices at Sunbeam Corporation 5 Accusations 5 Key Players in Sunbeam’s Scandal 6 Unethical Behaviours 7 Ethical Analysis 7 Stakeholder Theory 7 Deontological Theory 7 Shareholder Theory 7 Utilitarianism Theory 7 Reference 9 Executive Summary This report is based on Sunbeam Corporation and Albert Dunlap, the CEO from 1996 till 1988. In July of 1996, Michael Price and

evolution brings upon the business world. The Stockholder Theory maintains that managers should act merely as agents to the stockholder and only serve their interests-the maximization of profits (45). Milton Friedman's argument being, they are the owners of the business, and hence they should be entitled to all profits (45). Although this simple profit-motive concept may achieve the desired result, and address all of the interests of the stakeholders it lacks compassion that is so prevalent, and in my

of meanings a non-accountant would understand. a. The stakeholder engagement and maximization of the value and wealth of the company. Companies previously tended to focus on shareholders and the company itself, while things have been changed. Nowadays, it is believed that company’s mission is to maximize not only the wealth of the company, but also the wealth of the stakeholders associated with the company, Focusing on the powerful stakeholder groups is essential, while without the support from employees

2.1 Corporate governance There are two main competing models in corporate governance. Stakeholder method Under the stakeholder model of corporate governance, firms owned and controlled by small number of major shareholders. This model of corporate governance often called as the relationship based method due to the close relationship maintained between companies and their major shareholders. This close relationship, little separation of ownership and control minimises the agency problem. However

organization. These three external stakeholders are important to bringing money into the organization, but also that the community and other corporations are just as important because each has something different to bring the success of the hospital. In response to question 2: What are the potential conflicts that exist between these stakeholders? Dr. DoRight’s loyalty will definitely be in conflict between the duties that he owes to internal vs. external stakeholders. As stated earlier in this paper

ownership and control between the owner and the manager of the restaurant. The second issue is related to the unattended stakeholder interests who had been responsible previously for the success of the business. Following that, the issues outlined will then analysed through two of the lenses of Organisation Theory, namely Agency Theory and Stakeholder Theory, to show how the theories act as a base line for the actions represented. The

Nowadays, a business wants to exist and grow in a society, which business ethics and corporate social responsibility are sensitive and crucial objectives, the business should do what is right. Many people agree that business does not exist beyond society, it is a citizenship in the society. Therefore, business has to have many certain obligations and social responsibility. It generally means business have to do something good for the community, making social contribution, and using effectively resources

civil lawsuits that might follow running into possibly billions of dollars. Analysis of alternatives Toyota can pay the fine and admit liability hoping that this will not affect its reputation, especially with the government that is part of the stakeholder in the company. However, the company must be prepared for consumer fraud lawsuits that may follow afterwards. If the company assumed a shareholder model to CSR, it would avoid this option and possibly remain reactive and defensive fighting all the

strategic decision choices for specialty grocery retailer – SmartMart, with an aim to retain their market leadership position as retail supplier of sustainable food products, while at the same time being true to their mission statement of total stakeholder management. | Contents SmartMart Simulation – The Main Content 3 Reflection on Decision Making 3 Changing Store Format 3 Adopting Bio-Fuel 4 Pursuing Organics 2.0 Standard 5 Conclusion 5 Bibliography 6

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