Comm201presentation_Wright
Transcript of Comm201presentation_Wright
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Stakeholder Theory
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“a theory of organizational management and business ethics that addresses morals and values in managing an organization”
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Who uses it?
Corporations!
Organizational Communication
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1. Define the specific stakeholders
2. Examine how they should be treated as stakeholders
2 Steps of theory:
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This theory is crucial for the success of organizations!
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Why?
Because the sole responsibility of the organization is to those who own the instruments of production (the stakeholders!)
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Stakeholder
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5 Categories of Stakeholders
Shareholders
Customers
Employees
Suppliers
Communication
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Criticism: Provides an unrealistic view of how corporations really work
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Stakeholder Theory is an ethical perspective…
Meaning a business is behaving ethically if profits are generated for the stakeholder
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Do not confuse with ethical judgments based on the right/justice-based perspective which is based on dignity. Ethics according to stakeholder theory are about profit.