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Business Stakeholders Dealing With Values

The document discusses widely shared values across cultures, emphasizing justice, honesty, integrity, responsibility, and compassion as fundamental to ethical decision-making. It highlights the influence of social and psychological factors, such as peer pressure and the dark triad of personality traits, on ethical behavior. Additionally, it introduces the concept of the Abilene Paradox, illustrating how individuals may suppress their true feelings to conform to group expectations, and emphasizes the importance of stakeholder engagement in business ethics.

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5 views17 pages

Business Stakeholders Dealing With Values

The document discusses widely shared values across cultures, emphasizing justice, honesty, integrity, responsibility, and compassion as fundamental to ethical decision-making. It highlights the influence of social and psychological factors, such as peer pressure and the dark triad of personality traits, on ethical behavior. Additionally, it introduces the concept of the Abilene Paradox, illustrating how individuals may suppress their true feelings to conform to group expectations, and emphasizes the importance of stakeholder engagement in business ethics.

Uploaded by

沙雕三人團
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Business Stakeholders:

Dealing with Values


Five Widely Shared Values
(across time and cultures)
Kidder. R., Moral Courage (2006)

Justice

Honesty Integrity

Responsibility Compassion
Widely Accepted Values
These are widely accepted values according to
research by Kidder 2006.

These include common values that appear to be the


basis of most civilizations over time.

Notice that modern Western enlightenment values are


not directly mentioned there (though may be
supported by the side-noted values). Thus, equality
and democracy may not be given as values, and
responsibility is noted rather than rights. They could
be considered part of a system of politics or
governance. However, they are often described as
values by the press and politicians.

The list of values may have different priorities


according to different cultures. One culture may value
justice above others, and other culture may put
responsibility at the top.
The Golden Rule
Do unto others as you would
have them do unto you

Never impose on others what


you would not choose for
yourself
(Confucius (XV.24, The Analects)
The Golden
Rule
Values

Beliefs about what is


important

What determines your


priorities in life?

What do you value?


Values and behaviour

When your behaviour


More happiness
matches your values

When your behaviour


does NOT match your Less happiness
values

Eudaimonia = Human Flourishing


Aristotle
10 Reasons why our Ethics may Fail us
Schuz. M., Applied Business Ethics 2019

Peer Pressure
Embarrassment
Distance from
Dark Triad victims
These reasons Psychology
often have an (psychopathy,
effect that mis- Obedience Machiavellianism, Unethical
align us from our narcissism) habits/processes
values
Loyalty Incentive systems
Scapegoating
(reward/punishment)
10 Reasons Why Our Ethics may Fail Us

Peer Pressure
It doesn't matter how well thought through and formulated our ethics may
Embarrassment be. They could be carved in stone, placed at the centre of our religions or
Obedience celebrated for a month a year every June. There are influences from social and
psychological factors that can disrupt our ethical decision making.
Loyalty
Peer pressure, embarrassment, loyalty and obedience are ever-present and are
Dark Triad felt when there is a distinct difference between the ethical decision to be made and
Psychology a resistance to change.
(psychopathy,
Machiavellianism, The dark triad psychological factors, psychopathy, machiavellianism and
narcissism) narcissism are important parts of the dark side of human psyche. These negative
elements are present often at the higher parts of social hierarchy, and may cause
Incentive systems
problems via direct interference. Any ethical decision that goes against the wishes
(reward/punishment)
of persons of a psychopathic, machiavellian or narcissistic personality may be a
Distance from direct challenge to their power.
victims
Scapegoating is the practice of singling out a person or group for unmerited blame
Unethical and consequent negative treatment
habits/processes

Scapegoating
The Abilene Paradox

The tendency of people to


resist voicing their true thoughts
or feelings in order to please
others and avoid conflict
The Abilene Paradox

On a hot afternoon visiting in Coleman, Texas, a family is comfortably playing dominoes on a porch, until
the father-in-law suggests that they take a [50-mile (80-km)] trip to Abilene for dinner. The wife says,
"Sounds like a great idea." The husband, despite having reservations because the drive is long and hot,
thinks that his preferences must be out-of-step with the group and says, "Sounds good to me. I just hope
your mother wants to go." The mother-in-law then says, "Of course I want to go. I haven't been to Abilene
in a long time."

The drive is hot, dusty, and long. When they arrive at the cafeteria, the food is as bad as the drive. They
arrive back home four hours later, exhausted.

One of them dishonestly says, "It was a great trip, wasn't it?" The mother-in-law says that, actually, she
would rather have stayed home, but went along since the other three were so enthusiastic. The husband
says, "I wasn't delighted to be doing what we were doing. I only went to satisfy the rest of you." The wife
says, "I just went along to keep you happy. I would have had to be crazy to want to go out in the heat like
that." The father-in-law then says that he only suggested it because he thought the others might be bored.

The group sits back, perplexed that they together decided to take a trip that none of them wanted. They
each would have preferred to sit comfortably but did not admit to it when they still had time to enjoy the
afternoon.
Acting on Your Values

What if I were going to act on my values in a


business situation...
What would I do and say?
Enabling Views to be Heard

I'm uncomfortable
with this.
That doesn't seem Can we discuss
right to me! in private?
Giving a Voice To Your Values
Practical Advice from Lockheed Martin Co.
(www.lockheedmartin.com)
Ask questions

Talk to others
(include others)

Obtain data

Reframe the issue


A stakeholder is a person, group or
organization with a vested interest, or
stake, in the decision-making and
Stakeholders in a Business Context E.g. activities of a business, organization or
project.

Environment Employees The diagram on the left is a common set


of stakeholders, but other relevant
stakeholders to be added or removed
depending on context.
Business
Community Shareholders
firm Stakeholders can be members of the
organization they have a stake in, or they
can have no official affiliation.

Suppliers Customers Stakeholders can have a direct or indirect


influence on the activities or projects of
an organization.
Shared Values and Value
Creation LINK

Here is a framework showing


the different stakeholder
types (categories) and
relevant value categories.

From the values point of


view it emphasises joint
value creation in a business
context.

It also emphasises the


interdependencies between
stakeholder relationships
and value creation.

(Freudenreich et al 2020)
References

1. Freudenreich, B., Lüdeke-Freund, F. & Schaltegger, S. A Stakeholder Theory


Perspective on Business Models: Value Creation for Sustainability. J Bus Ethics 166, 3–
18 (2020).
2. Kidder. R., Moral Courage 2006. William Morrow Publishers
3. Schuz. M., Applied Business Ethics 2019. New Jersey World Scientific

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