We will be reviewing articles that cover the concept of stakeholder management. Stakeholders are important to consider in significant business related decisions. This is because organizational decisions – especially substantial decisions involving significant resource allocations/re-allocations – tend to impact various stakeholder groups as you will be reminded in your reading. These stakeholders may have the power to impact the organization’s success.
Assignment Instructions:
In this assignment you will be asked to apply stakeholder management theory to the following scenario:
A public corporation of 980 employees manufactures a popular brand of garments (mostly jeans) that are primarily made and sold in America nation-wide. It has a large contingent of employees in several small rural communities in the Eastern US and is the primary employer in all of those communities. Two of its 5 shops are unionized, but the union and management have a good working relationship. The company has traditionally marketed its clothing line as “Made in the USA” and attracted a bit of a “cult like” following as a result, but an outside consulting firm has suggested that significantly greater profits are possible if a different strategy is employed. The corporation is subsequently considering whether to off-shore its manufacturing facilities to a poor nation to save money on labor. It would also discretely discontinue its “Made in the USA” marketing ads and hopefully ride the wave of its previous marketing campaigns for a while. It is estimated that total cost per unit of production will be decreased by one third which equates to tens of millions of dollars.
Please write a 2-3 page paper in which you respond to the following:
Provide a paragraph summarizing the concept of stakeholder management based on your readings.
How do you think the following stakeholder groups in the above scenario will be impacted?
Employees/unions
Communities
Stockholders
What would you recommend the employer described above should do?
Assignment Expectations
Your 2-3 (or more) page paper should be double-spaced and in 12-point type.
Your paper should have a separate cover page and a separate reference page. Make sure you cite your sources.
Use APA style.
Required reading:
Terris, D. (2013). Ethics at work: Creating virtue at an American corporation. Waltham, MA: Brandeis University Press. Retrieved from the Trident Online Library (ProQuest Ebook Central). Read pages 1-48.
Howitt, M., & McManus, J. (2012). Stakeholder management: An instrument for decision making. Management Services, 56(3), 29-34. Retrieved from Trident Online Library (ProQuest).
Harrison, J. S., & Wicks, A. C. (2013). Stakeholder theory, value, and firm performance. Business Ethics Quarterly, 23(1), 97-124. Retrieved from Trident Online Library.
Emerson, W. M., Alves, H., & Raposo, M. (2011). Stakeholder theory: Issues to resolve. Management Decision, 49(2), 226-252.
Stieb, J. A. (2009). Assessing Freeman’s stakeholder theory. Journal of Business Ethics, 87(3), 401-414.
Vlachos, P. A., Panagopoulos, N. G., & Rapp, A. A. (2013). Feeling good by doing good: Employee CSR-induced attributions, job satisfaction, and the role of charismatic leadership. Journal of Business Ethics, 118(3), 577-588.
Schweitzer, M. E., & Gibson, D. E. (2008). Fairness, feelings, and ethical decision-making: Consequences of violating community standards of fairness. Journal of Business Ethics, 77(3), 287.
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