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VOL. 2, ISSUE 6 (2017)
Impact of business ethics on stakeholder relationships
Authors
Usha
Abstract
A common view of the firm holds that employees, customers, shareholders, and suppliers are key organizational stakeholders. While obligations to these stakeholders are sometimes considered to be motivated by organizational self-interest, the ethical perspective asserts the rightness or wrongness of specific firm actions independently of any social or stakeholder obligations.^ Customers are key stakeholders that help establish the firm's reputation and identification. For example, today Procter and Gamble is considered a textbook market driven global powerhouse with billion-dollar brands such as Bounty, Olay, Tide, Crest, and Folgers. Understanding customer needs and wants and providing customers with high-quality products are the key to the company's success. A market orientation focuses on an understanding of customers' expressed and latent needs and development of superior solutions to the needs. Such an approach selects to elevate the interests of one stakeholder—the customer—over those of others.
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Pages:403-405
How to cite this article:
Usha "Impact of business ethics on stakeholder relationships". International Journal of Academic Research and Development, Vol 2, Issue 6, 2017, Pages 403-405
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