Title: A stakeholder management model for ethical decision making

Authors: Simone De Colle

Addresses: CELE – Centre for Ethics, Law & Economics, LIUC University of Castellanza, Corso Matteotti, Castellanza 22 21053 (VA), Italy

Abstract: This paper discusses the role of stakeholder management for improving ethical decision-making processes within organisations. It presents the key concepts and approaches developed within stakeholder theory and analyses their implications from a management perspective. The concept of ||stakeholder corporation|| is introduced, and the need for effective engagement with stakeholders discussed under two different perspectives of stakeholder theory, namely the instrumental vs. the normative approach. In the conclusion, a ten-step model for stakeholder management is presented as a ||management tool|| that could be applied to improve decision-making processes within any organisation, by enabling managers to identify and respond to legitimate stakeholders| interests.

Keywords: ethical decision making; stakeholder theory; stakeholder management; social contract; ethics.

DOI: 10.1504/IJMDM.2005.006555

International Journal of Management and Decision Making, 2005 Vol.6 No.3/4, pp.299 - 314

Published online: 21 Mar 2005 *

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