RT Article
T1 Putting a Stake in Stakeholder Theory
JF Journal of business ethics
VO 88
IS 4
SP 605
OP 615
A1 Orts, Eric W.
A1 Strudler, Alan
LA English
PB Springer Science + Business Media B. V
YR 2009
UL https://www.ixtheo.de/Record/1785635654
AB The primary appeal of stakeholder theory in business ethics derives from its promise to help solve two large and often morally difficult problems: (1) how to manage people fairly and efficiently and (2) how to determine the extent of a firm’s moral responsibilities beyond its obligations to enhance its profits and economic value. This article investigates a variety of conceptual quandaries that stakeholder theory faces in addressing these two general problems. It argues that these quandaries pose intractable obstacles for stakeholder theory which prevent it from delivering on its large promises. Acknowledging that various versions of stakeholder theory have made a contribution in elucidating the complex nature of firms and business decision making, the article argues that it is time to move on. More precise explications of the nature of modern firms focusing on the application of basic moral principles to different business contexts and situations are likely to prove more accurate and useful.
K1 Stakeholder Theory
K1 social initiatives
K1 Shareholder primacy
K1 Corporate Social Responsibility
K1 Corporate Governance
K1 Corporate Citizenship
DO 10.1007/s10551-009-0310-y