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| Author: | Goodpaster, K.E. Maines, T.D. Rovang, M.D. |
| Title: | Stakeholder thinking: Beyond paradox to practicality |
| Journal: | Journal of Corporate Citizenship
2002 : AUTUMN, 7, p. 93-111 |
| Index terms: | Stakeholders Corporate culture Management |
| Language: | eng |
| Abstract: | This paper's first part seeks to clarify the idea of "stakeholder thinking". In the process of this clarification, identified are two conceptual barriers that seem to block the application of stakeholder thinking by business decision-makers: the Partiality Paradox and the Common Good Paradox. The second part of the paper describes the Caux Round Table (CRT) Principles for Business as a stakeholder-based, transcultural statement of business values. The CRT Principles are now associated with a managerial tool called the Self-Assessment and Improvement Process (SAIP). The SAIP is designed to assist executives in shaping the consciences of their firms by means of an organisational self-appraisal process. This process lays the foundation for improvement initiatives that enable the corporation to clarify and fulfil its ethical responsibilities. The paper's third part indicates a way in which the CRT–SAIP may help organisations avoid in practice the two barriers that are difficult to avoid in theory. An appendix contains the full text of the CRT Principles. |
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