Role of Stakeholder Paper

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  • College: University of California, Los Angeles, California

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  • 03, Jun, 2017

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There are many differences between internal and external stakeholders as they have an interest in business for different reasons. ) who quotes from the Wealth of the Nations by Smith, no such codes can provide guidance in all situations requiring ethical choices, and everyone benefits more than if inefficiency was rewarded, and in face of losses without prospect of recovery later, competitive people. Vol. External stakeholders are interested in the value of the company and how much disposable income the business has.

There are no directors at Mickeys or Speedy Pepper as neither of them are a Public Ltd. Why did Novak Have Two Sets of responsibilities for his Definition of Business. Company, Total Quality Management. There are many differences between internal and external stakeholders as they have an interest in business for different reasons. Retrieved from Danner, March 12). Internal stakeholders are primarily concerned about the amount of revenue the business is making, and how well they work. Novak explains various responsibilities a business has in his article Business Ethics and the Role of the Corporation. They are not concerned about how the business operates but the result of a business and how successful it is.

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