Journal of Business Ethics 17 (9-10):1093-1102 (1998)

Abstract
The theory of the social responsibility of the firm oscillates between two extremes: one that reduces the firm's responsibility to the obtainment of (the greatest possible) profit for its shareholders, and another that extends the firm's responsibility to include a wide range of actors with an interest or "stake" in the firm. The stakeholder theory of the social responsibility of business is more appealing from an ethical point of view, and yet it lacks a solid foundation that would be acceptable to a variety of schools of thought.In this paper I argue that the stakeholder theory could be founded on the concept of the common good. First, I explain the foundations of the theory of the common good, the concept itself, how it relates to the individual good, and its role in the firm. Following that, I explain how the theory of the common good could be applied to the stakeholder theory. Finally, I draw some conclusions
Keywords Philosophy   Ethics   Business Education   Economic Growth   Management
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Reprint years 2004
DOI 10.1023/A:1006075517423
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References found in this work BETA

Business Ethics and Stakeholder Analysis.Kenneth E. Goodpaster - 1991 - Business Ethics Quarterly 1 (1):53-73.
Stakeholder Theory and A Principle of Fairness.Robert A. Phillips - 1997 - Business Ethics Quarterly 7 (1):51-66.
The Person and the Common Good. [REVIEW]H. W. S. & Jacques Maritain - 1948 - Journal of Philosophy 45 (21):583.
A New Model of Business: Dual-Investor Theory.Eugene Schlossberger - 1994 - Business Ethics Quarterly 4 (4):459-474.

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Citations of this work BETA

Stakeholder Legitimacy.Robert Phillips - 2003 - Business Ethics Quarterly 13 (1):25-41.
The Stakeholder Model Refined.Yves Fassin - 2009 - Journal of Business Ethics 84 (1):113-135.

View all 67 citations / Add more citations

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