Chapter 7
Conducting stakeholder relations responsibly
As with most of the perspectives presented in this book, where we have reciprocities, stakeholder relations are also not unilateral. Exhibit 7.1 depicts the inputs from and the effects on stakeholders in these relations.
Stakeholders, mostly, are not anonymous institutions but human beings – be they shareholders, employees, clients or citizens of a firm’s constituency. They all have moral rights not to be harmed, and this includes the shareholders’ ownership rights. Do these also go so far as to determine the moral responsibilities of the management that works for the owners? From the other way, how far do obligations of the management go to serve the interest of the owners? Managers are ...
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