PHILOS 2N03 Lecture Notes - Lecture 7: Stakeholder Theory
30 Oct 2018
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Use stakeholder theory to explain what went wrong (cid:862)har(cid:373)s(cid:863) a(cid:374)d (cid:862)(cid:271)e(cid:374)efits(cid:863) of stakeholder theory. The balance of harms and benefits in business. Different ways to define benefits and harms in business. Different types of consequences and stakeholders to consider. Freeman disagrees with economic theories or theories of value production that hold one stakeholder dominant, holds dominant interests primary, and assumes competition and tension between all other stakeholder groups. Free(cid:373)a(cid:374) et. al. "s o(cid:271)je(cid:272)tio(cid:374): this is paternalistic o other stakeholders. Shareholder theory takes one interest, holds it dominant, subsumes all other interests and furthermore assumes that there will be conflict with other parties. Stakeholder capitalism: value production, how economic value production is made using economic theories (marxist labour theory) In order for stakeholders to subdue their value they must put it all into the one dominant stakeholder. Making their interests subordi(cid:374)ate to so(cid:373)eo(cid:374)e else"s to pursue their goal. Labour workers must subsume its goals to capitalists, to the means of production.
