This seminar examines the management of stakeholder relationships (shareholders, employees, customers, suppliers, publics) from a normative perspective, evaluate the effects of publics (including governmental organizations, non-governmental organizations, communities, and the public at large) on organizational strategy, and apply a formal process to identify and address ethical conflicts between firms and stakeholders, paying particular attention to private sector-public sector interactions. This includes:
• Identifying and evaluating the importance of resources provided by public stakeholders.
• Evaluating the role of the “moral manager” in making public and private sector decisions including resolving tradeoffs among stakeholders.
• Evaluating the social contract between the firm and public stakeholders and evaluating how this social contract should guide decision making.
• Applying a formal ethical framework that incorporates personal values and broader utilitarian, rights/duties, and justice considerations into making decisions.
The stakeholder model, ethics matrix, normative ethics theories, and Giving Voice to Values curriculum are used as theoretical foundations for the course. Students are also encouraged to reflect on their own ethical beliefs and how those beliefs may guide business decision-making.