Business and Society

In this unit, we will explore the role of stakeholders and their impact to an organization, the stakeholder model, and the ethical obligations of an organization to those stakeholders. Remember that ethical obligations are duties that a person owes to a company in terms of his or her decisions and how he or she behaves. In considering the stakeholder model, it is helpful to reflect on the stakeholders in our own lives.

Reflect on a decision that you made in the past, and apply what you have learned about decision making and the stakeholder model. Then, respond to the following questions:

Who were the stakeholders who were involved in that decision?
How did your decision affect them?
What were your ethical obligations to those stakeholders?
Would you make a different decision? Why or why not?