1. BUSINESS & SOCIETY Ethics and Stakeholder Management
Chapter 3
BUSINESS & SOCIETY Ethics and Stakeholder Management
Carroll & Buchholtz 6e
THE STAKEHOLDER APPROACH to BUSINESS, SOCIETY, and ETHICS
Prepared by Deborah Baker Texas Christian University
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Business and Society: Ethics and Stakeholder Management, 6e • Carroll & Buchholtz Copyright ©2006 by South-Western, a division of Thomson Learning.  All rights reserved

2. Chapter 3 Learning Outcomes
Define stake and stakeholder and describe the origins of these concepts.
Differentiate among production, managerial, and stakeholder views of the firm.
Differentiate among the three values of the stakeholder model.
Discuss the concept of stakeholder management.
Identify and discuss the five major questions that capture the essence of stakeholder management.
Identify and discuss stakeholder management capability (SMC).
Describe the characteristics of a stakeholder corporation.
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3. Chapter 3 Outline Origins of the Stakeholder Concept
Who Are Business’s Stakeholders?
Strategic, Multifiduciary, and Synthesis Views
Three Values of the Stakeholder Model
Key Questions in Stakeholder Management
Effective Stakeholder Management
Stakeholder Management Capability (SMC)
The Stakeholder Corporation
Stakeholder Power: Four Gates of Engagement
Principles of Stakeholder Management
Strategic Steps Toward Successful Stakeholder Management
Summary
Origins of the Stakeholder Concept
What Is a Stake?
What Is a Stakeholder?
Who Are Business’s Stakeholders?
Production, Managerial, and Stakeholder Views
Primary and Secondary Stakeholders
Care, Strategic, and Environmental Stakeholders
A Typology of Stakeholders
Strategic, Multifiduciary, and Synthesis Views
Three Values of the Stakeholder Model
Stakeholder Management
Who Are Our Stakeholders?
What Are Our Stakeholders’ Stakes?
What Opportunities and Challenges Do Our Stakeholders Present to Our Firm?
What Responsibilities Does Our Firm Have to Its Stakeholders?
What Strategies or Actions Should Management Take?
Effective Stakeholder Management
Stakeholder Management Capability
The Stakeholder Corporation
Summary
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4. Production and Managerial Views of the Firm
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5. Who Are Business Stakeholders?
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6. Selected Key Terms core stakeholders environmental stakeholders
legitimacy
managerial view of the firm
power
principles of stakeholder management
process level
production view of the firm
rational level
stake
stakeholder
stakeholder corporation
stakeholder inclusiveness
stakeholder management capability (SMC)
stakeholder symbiosis
stakeholder thinking
stakeholder view of the firm
strategic stakeholders
transactional level
urgency
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