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PHIL 201 Strategic Stakeholder Synthesis Doc

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Business and Professional Ethics (PHIL201)

   

Added on  2020-05-28

PHIL 201 Strategic Stakeholder Synthesis Doc

   

Business and Professional Ethics (PHIL201)

   Added on 2020-05-28

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Running Head: PHIL 2011PHIL 201Name:Institution:
PHIL 201 Strategic Stakeholder Synthesis Doc_1
PHIL 2012Section Onea) Strategic Stakeholder SynthesisAccording to Goodpaster (1991) strategic stakeholder synthesis involves going a step further in decision making. These measures include the actual decision making and its implementation. The synthesis provides a cycle on how to move from the process of stakeholder understanding to coming up with a resolution.Further, Goodpaster supposes that businesses that operate by making use of strategic stakeholder synthesis do not qualify in introducing ethical issues during decision making. This is because the strategic stakeholder is not eligible because it is non-moral (Goodpaster,1991). This is because consequences that result from one’s actions to others are confused with what people regard as moral. Being moral constitutes avoiding unfairness to the affected since it is wrong despite the retaliatory potential of the affected.b) Goodpaster’s Nonfiduciary ApproachGoodpaster suggests adopting a new stakeholder synthesis by considering the morally nonfiduciary obligations entitled to the third parties. The obligations involve duties such as not coercing, not lying, cheating, or even stealing. These obligations are contained in the legislative, regulatory, and judicial arguments which constrain business activities that are profit-driven. The nonfiduciary approach is different from both multi-fiduciary and strategic stakeholder approach. Stakeholder’s approach gives more concern to the stakeholders as factors which may have an influence either positively or negatively to the economic interests. Multi-fiduciary approach views the stakeholders as separate from their economic, contributory, or their legal influence. However, non-fiduciary approach entails obligations surrounding the third parties, and which are morally significant.
PHIL 201 Strategic Stakeholder Synthesis Doc_2
PHIL 2013c) Nonfiduciary Account of Business ObligationsAccording to Goodpaster's nonfiduciary approach, it offers enough protection for the stakeholders’ interests rather than those of the shareholders. This is because it offers an understanding of the corporation’s conscience as being logical and a moral extension of the principals. The approach has further offered a moral posture that respects both the fiduciary and the non-fiduciary between the managers and the stockholders. The nonfiduciary approach avoids the problem of treating the stakeholders as regular corporate ends. This is enhanced by identifying the ethical relationship between the stakeholders and the management that is neither too weak nor too strong. Introduction of moral reasoning consistent with Ruder’s belief helps in protecting the legitimacy of the private sector. The economic mission can be maintained provided that it is in line with the fundamental moral obligations.Section Twoa) Violation of Moral DutiesBased on the radio program, the primary Australian supermarket chains do violate primary moral duties such as stealing and harming their suppliers. It is evident that the margins of the food producers are squeezed by the supermarkets with the intention of attaining higher profits ("Casualties in the supermarket war," 2013). The supermarkets have gone a step further toblackmail the suppliers who have provided evidence to the ACCC. Additionally, they request formore money that is to be spent on products to keep it longer on the shelf.b) Moral DutiesThe Australian supermarkets owe specific moral duties to its suppliers. The supermarketsshould limit themselves from harming the suppliers by squeezing their margins. They should
PHIL 201 Strategic Stakeholder Synthesis Doc_3

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