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CHAPTER OBJECTIVES • Identify stakeholders’ roles in

business ethics

• Define social responsibility • Examine the relationship between

stakeholder orientation and social responsibility

• Delineate a stakeholder orientation in creating corporate social responsibility

• Explore the role of corporate governance in structuring ethics and social responsibility in business

• List the steps involved in implementing a stakeholder perspective in social responsibility and business ethics

CHAPTER OUTLINE Stakeholders Define Ethical Issues in Business

Identifying Stakeholders

A Stakeholder Orientation

Social Responsibility and Ethics

Issues in Social Responsibility

Social Responsibility and the Importance of a Stakeholder Orientation

Corporate Governance Provides Formalized Responsibility to Stakeholders

Views of Corporate Governance

The Role of Boards of Directors

Greater Demands for Accountability and Transparency

Executive Compensation

Implementing a Stakeholder Perspective

Step 1: Assessing the Corporate Culture

Step 2: Identifying Stakeholder Groups

Step 3: Identifying Stakeholder Issues

Step 4: Assessing Organizational Commitment to Social Responsibility

Step 5: Identifying Resources and Determining Urgency

Step 6: Gaining Stakeholder Feedback

Contributions of a Stakeholder Perspective

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