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Pleasing Stakeholders While Remaining Ethical

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Pleasing Stakeholders While Remaining Ethical
Introduction
Ethical Responsibility
Being ethically responsible is important because people want to know that the business they are working for or with is trustworthy. The ethical responsibilities that businesses have are to their employees, customers and society as a whole (Mack, 2013). Managers have to keep in mind who their audience is depending on where they come from, some behaviors can be considered ethical in the United States, but unethical in another country.
Discussion Content
Stakeholders’ Impact on Decision-Making A Stakeholder is a person or a group of people who has an interest or involvement in a business. Stakeholders can be customers, investors, or employees. Stakeholders impact decision making by expanding profits and building up the value of the company (Robbins & Coulter, 2007). When you take into account the several different types of stakeholders, you realize that they have a great impact on decision making. Some of the stakeholders are: 1. Customers – Is a stakeholder group that has the most impact in business’ decision-making process. Let’s face it, without customers or clients, there will be no business. So managers should ensure they maintain an open, honest, and transparent communication with this group (Kokemuller, 2013). 2. Communities – The decisions managers make in their organizations can directly affect the community that surrounds it. Organizations should also partake in the local events and give to the charities within the community in order to gain cohesion, as well as, the potential for lastingness based on public support (Kokemuller, 2013). 3. Employees – In the early 21st century, employees became recognized as stakeholders. Managers who make a conscious effort to treat their employees amiably usually results in loyal and committed employees (Kokemuller,

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