Do you think using a Stakeholder Management Approach to business ethics is the best approach? Why do you think so?

Subject: Ethical Decision Making for Business

– Recommended textbook for the subject: Weiss, J., Business Ethics: A Stakeholder and Issues Management Approach, 6th edition (CHAPTER 3)

– Answer the following essay questions:

1. With regard to Chapter 3’s opening case, what, if anything, could BP’s CEO have done differently to have prevented and/or avoided the resulting fall-out from the crisis? Explain.

2. Find a recent example of a corporation that had to publicly manage a crisis. Did the company spokesperson respond effectively to stakeholders regarding the crisis? What should the company have done differently in its handling of the crisis? Fully explain the situation and your answer.

3. Which of the types of power (described in Chapter 3) that stakeholders can use have you effectively used in a conflict or disagreement over a complex issue? Briefly explain the outcome and evaluate your use(s) of power.

4. Using Figure 3.4 in the textbook, identify a complex issue-related controversy or situation in which you, as a stakeholder, were persuaded to move from one position (cell) to another and why—for example, from Non-supportive to Supportive, or from Mixed Blessing to Marginal. Explain why you moved and what the outcome was.

5. Do you think using a Stakeholder Management Approach to business ethics is the best approach? Why do you think so?

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