About This Chapter
Corporations & Stakeholders - Chapter Summary and Learning Objectives
Stakeholders are a crucial component to many corporations. Understanding how this relationship works can help business owners and entrepreneurs make educated business decisions that balance corporate needs with those of the stakeholders. In this chapter, you'll learn about the different roles that stakeholders, shareholders and stockholders play in the corporate world. You can take quizzes to test your comprehension of the materials or review the transcripts to get definitions for key terms. This chapter can teach you:
- How to define stakeholder theory
- How to build relationships with stakeholders
- Ethical decision-making and power balance methods
- The way companies and community interact, and how to foster trust
- What the differences are between customers and consumers
|What is Stakeholder Theory? - Definition, Ethics & Quiz||Understand the basic principles and characteristics of stakeholder theory.|
|The Impact of Business Decisions on Stakeholders||Learn how corporate choices affect stakeholders.|
|Building Collaborative Relationships Between Organizations & Their Stakeholders||Study the best types of relationships that companies and stakeholders can have. Go over tips on how to achieve these positive relationships.|
|Shareholder, Board of Director & Officer Roles||Understand the different roles of various members of the corporate structure.|
|Stockholders: Definition, Powers, Rights & Activism||Learn what stockholders are and how much power they wield.|
|The Organization of Modern Corporations & Interaction with Stakeholders||Examine how modern companies are organized and their relation to stakeholders.|
|The Ethics of the Employer-Employee Relationship & Its Effect on Stakeholders||Dive into the ethical treatment of employees. Learn how the employer-employee link can impact stakeholders.|
|Ethical Decision Making||Investigate what makes a corporate decision ethical or not.|
|Legal Ethical Decision Making: Models, Steps & Framework||Study how to make decisions within a larger legal framework.|
|How Companies Ethically Balance Owner, Stockholder & Stakeholder Interests||Go over how other companies balance the concerns of disparate groups within their structure.|
|Public Issues & Their Significance in the Modern Corporation||Examine issues that may influence corporate decisions.|
|Business & the Community: Partnerships & Interactions||Learn the responsibilities a company has towards its community and vice versa.|
|Corporate Giving Strategies: Building Community Relationships||Determine some proven tactics that companies can use to foster a relationship of trust with the community.|
|Differences Between Customers, Consumers & Consumerism||Review distinctions between the roles of customer and consumers. Understand the definition of consumerism.|
|Five Major Consumer Rights||In this lesson, you'll study five rights held by consumers.|
1. What is Stakeholder Theory? - Definition & Ethics
You may not know it, but you are a stakeholder in many organizations. In this lesson, you'll learn about stakeholder theory including some of its fundamental concepts. You'll also have a chance to take a short quiz.
2. The Impact of Business Decisions on Stakeholders
In this lesson, you will learn about the impact of business decisions on stakeholders and the various difficulties in making appropriate ethical decisions that result in fair outcomes for all constituents.
3. Building Collaborative Relationships Between Organizations & Their Stakeholders
Companies need to invest time in building collaborative relationships between organizations and their stakeholders. In this lesson, you will learn about stakeholder engagement stages.
4. Shareholder, Board of Director & Officer Roles
A corporation is a complex business structure made up of many different individuals. This lesson explains the corporate roles of shareholders, the board of directors and officers.
5. Stockholders: Definition, Powers, Rights & Activism
In this lesson, you will learn the definition, types and powers of stockholders. In addition, stockholder rights will be highlighted along with the introduction of the recent business influence of stockholder activism.
6. The Organization of Modern Corporations & Interaction with Stakeholders
In this lesson, you will learn how modern corporations have to organize their departments in order to provide direct interaction with various stakeholders.
7. The Ethics of the Employer-Employee Relationship & Its Effect on Stakeholders
The employer-employee relationship must be ethically sound. There are specific requirements that each side expects in order to respect the employment relationship and its effect on stakeholders.
8. Ethical Decision Making
We have to make decisions every day, and many of these decisions have an ethical dimension. In this lesson, you'll learn about ethical decision-making and a process you can use to make ethically sound decisions. A short quiz follows.
9. Legal Ethical Decision Making: Models, Steps & Framework
Ethical decision making involves making choices based on what is good for all people. The Golden Rule, public disclosure test and universalization test are three models that consider others in their application.
10. How Companies Ethically Balance Owner, Stockholder & Stakeholder Interests
Companies can adopt the shareholder or stakeholder models to ethically balance owner, stockholder and stakeholder interests. The focus of a company can be on maximizing profits or long-term survival.
11. Public Issues & Their Significance in the Modern Corporation
In this lesson, you'll learn how corporations use environmental analysis and competitive intelligence to keep abreast of public issues and why this is important to keeping their stakeholders satisfied.
12. Business & the Community: Partnerships & Interactions
Businesses and communities depend on each other for support to create a flourishing, stable, and profitable society. In this lesson, you will learn about the interdependencies between companies and communities as well as their collaborative partnerships.
13. Corporate Giving Strategies: Building Community Relationships
Corporate giving is essential to building strong relationships between businesses and communities. In this lesson, you will learn how companies can direct their giving strategically to further their own business objectives.
14. Differences Between Customers, Consumers & Consumerism
In this lesson, you will learn the difference between customers and consumers. In addition, the idea of consumerism will be discussed through the explanation of consumer advocacy groups and regulation.
15. Five Major Consumer Rights
Consumers should expect safe products and ethical behavior from businesses. While there is not any official regulation, President Kennedy introduced four of the five major consumer rights: safety, information, choice, voice and redress.
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Other chapters within the DSST Business Ethics and Society: Study Guide & Test Prep course
- Ethics in Business
- Understanding Ethical Business Leadership
- Foundational Ethical Theories for Business
- Social Responsibilities of a Business
- Government Regulation of Business
- The Relationship Between Employer & Employees
- Ethical Issues in the Workplace
- The Ethics of Labor Relations
- The Ethics of Advertising & Marketing
- The Ethics of Privacy in Business
- Ethics in International Business
- Global Business & Environmental Ethics
- Business, Government & Society
- DSST Informational Resources
- DSST Business Ethics and Society Flashcards