Abstract
The 25th anniversary of R. Edward Freeman’s Strategic Management: A Stakeholder Approach provides an opportunity to consider where stakeholder theory has been, where it is going, and how it might influence the behavior of academics conducting stakeholder-oriented research. We propose that Freeman’s early work on the stakeholder concept supports the normative claim that a stakeholder’s contribution to value creation implies a right to stakeholder voice with regard to how a corporation makes decisions. Failure to account for stakeholder voice (especially for non-shareholder stakeholders) works to the detriment of stakeholders. We further propose that business ethicists and stakeholder scholars have a role to play with regard to supporting the interests — including a right to voice — of non-shareholder stakeholders through advocacy, teaching, and scholarship. We use the example of industrial relations teaching and scholarship as a model for future business ethics teaching and scholarship.
Original language | English |
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Pages (from-to) | 15-23 |
Number of pages | 9 |
Journal | Philosophy of Management |
Volume | 8 |
Issue number | 3 |
DOIs | |
Publication status | Published - 1 Sept 2009 |
Keywords
- Business Ethic
- Corporate Governance
- Industrial Relation
- Stakeholder Group
- Stakeholder Theory