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Values and Stakeholders

In: Business Ethics and Organizational Values

Author

Listed:
  • Ole Thyssen

    (Copenhagen Business School)

Abstract

Ethics in organizations concerns the relationship of organizations to the parties that influence or are influenced by their decisions. We refer to any ‘party’ who has an interest as a stakeholder.1 It provides a service and expects a reward. It is often a relationship between service and money,2 but other relationships are possible as well. Concerning oneself with the stakeholders of an organization is not the same as concerning oneself with the premises for its decision. There is, however, a clear connection between stakeholders and premises. Stakeholders put pressure on the organization to undertake specific concerns, that is, to base its decisions on specific premises. In the counter-pressure between many different stakeholders, an organization has to decide which decisions it considers acceptable or unacceptable. It has to decide who is going to benefit from its actions and hence who will suffer from them, or at least not prosper.3

Suggested Citation

  • Ole Thyssen, 2009. "Values and Stakeholders," Palgrave Macmillan Books, in: Business Ethics and Organizational Values, chapter 9, pages 155-178, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25093-2_9
    DOI: 10.1057/9780230250932_9
    as

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