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Essay / Research Paper Abstract
This 4 page paper looks at the ethical stances a firm can adopt; shareholder approach, multiple stakeholder approach and shaper of society, considers each approach and then examines the English football team Manchester United and discusses which ethical approach that are adopting, The bibliography cites 6 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEMUethics.rtf
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Unformatted sample text from the term paper:
stakeholder obligations and shaper of society. These different approaches can be used to consider the position of different companies; Manchester United is an interesting example of how this can be
used. With the shareholder stances where the shareholder is the primary stakeholder and actions undertaken are motivated by shareholder interests, these may
be long term or short term interests. This is the approach that is advocated by Friedman as he argues that the only ethical responsibility of the business is to the
shareholders that n the business, and that other ethical requirements, if they are needed, will be either driven by the market, or be legislated or regulated by the state and
is aligned to the shareholder wealth maximization model (Chyssides and Kaler, 1998). The only variance in these models is in the long and short term approach that can be adopted.
The multiple stakeholder approach is aligned with the corporate wealth maximization model, this is where the shareholders are valid stakeholders, but they
are not the only stakeholders and the firm should balance the needs of the different stakeholders rather than favor only one group of stakeholders (Johnson and Scholes, 2002).
The last of the stances is that of a shaper of society, where there are ethical and social needs put ahead of other interests, it
may be argufied that it is difficult for commercial firm to be shapers of society, but with the broad area of influence this cannot be avoided, organizations commercial or otherwise
are able to influence the views and opinions of others. When looking at Manchester United this is a football club that has
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