Identifying and Influencing Major Stakeholders
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
Stakeholder transactions and interactions with an organization can be analyzed
using a variety of techniques that are outside the scope of this chapter.62 One
objective of this strategy, when viewed from an ethical standpoint, is for
corporations to use the values of openness, equity, and stakeholder interest
consideration in strategic choices and transactions. The following queries from
Exhibit 5.8 can be applied in this regard. 1. Who are the stakeholders, or those
interested in addressing a change, resolving a problem, or supporting or
opposing a suggested course of action? 2. What is at stake for them if they
oppose the change or support it? 3. What are the potential benefits and
drawbacks of the move for the supporters? 4. What are the potential benefits
and drawbacks of the change for the resisters? 5. In relation to the change, what
kind of influence do the supporters possess? 6. In relation to the change, what
kind of power do the resisters possess? 7. What tactics can we employ to
maintain the fans' support? 8. What tactics may we employ to overcome or
neutralize the resistance? This method involves the leaders and officials of an
organization informing, involving, getting input from, and influencing all of its
stakeholders with the organization's strategy, issues, or opportunities.
Had BP taken this course of action in 2010, the Gulf of Mexico's now-largest oil
spill and rig explosion crisis—which claimed the lives of 11 people and
destroyed more than 600 square miles of land and sea—might have been
avoided. It seemed that BP's culture and leadership had been loose and
disconnected from its stakeholders, including its stockholders. The machinery
and equipment were therefore outdated and not operating at their best. One
result is that the public, communities, workers, and employees might not have
experienced the crisis and its ongoing repercussions. Stakeholder management
and corporate social responsibility have been shown to improve a company's
profitability and reputation.63 Both managers and organization researchers are
concerned in how a company's performance is impacted by its ethics and social
responsibility. Research has indicated a beneficial correlation between financial
outcomes and ethical and socially responsible behavior. For instance, a research
examining the financial performance of major American corporations deemed to
be "best corporate citizens" discovered that they perform better financially and
have better reputations.64 In a similar vein, independent corporate governance
ratings agency Governance Metrics International discovered that stocks of
businesses that operate with more altruistic values outperform those that operate
with more self-serving goals. On metrics like return on capital, return on
investment, and return on assets, top-ranked businesses like Pfizer, Johnson
Controls, and Sunoco also performed better than lower-ranked ones.
