Stakeholder Theory

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Stakeholder theory is presently the dominant framework for analysing ethical issues within the field of business ethics. The theory goes beyond the conventional idea that stockhold ers are the main group to whom corporate managers owe responsibility by arguing that all groups having a stake in a firm - suppliers, customers, employees, the local community, and others - should be considered by managers in decision-making. Despite the growth and widespread appeal of stakeholder theory within business ethics and related fields, up till now there has been no reader that presents scholars and students interested in the theory with a resource covering the major developments and debates surrounding the theory. This anthology contains the most important, influential, and innovative work written on stakeholder theory over the course of the last twenty years. It provides those working in areas of business, professional, and applied ethics with a unique resource for research and teaching. The scope of the anthology covers the historical origins of stakeholder theory, its normative foundations, debates concerning its adequacy as an ethical theory, issues involving stakeholder identity and legitimacy, applications of stakeholder theory within organisational management, and extensions of stakeholder theory to specific corporate domains and industries. Also included is a comprehensive bibliography for further reading. Including essential articles on stakeholder theory from the most prominent authors in the field, this valuable collection will serve as the standard reference source for research into stakeholder theory for years to come. It includes a Foreword by Norman E. Bowie, Elmer Andersen Chair in Corporate Responsibility, Carlson School of Management, University of Minnesota. Show more