In this unit, we will explore the role ofÂ stakeholdersÂ and their impact on an organization, the stakeholder model, and the ethical obligations of an organization to those stakeholders. Remember thatÂ ethical obligationsÂ are duties that a person owes to a company in terms of his or her decisions and how he or she behaves.
After reviewing the lessons for this week, think about various stakeholders for a high end restaurant. It is marketed as a fine dining experience for everyone. Customers can expect high quality food and service. Management is intentionally visible to customers and employees. The chef hand selects the freshest products. As the owner who has to make decisions for the restaurant, respond to the following:
- Identify the stakeholders for the restaurant. What ethical obligations would restaurant management have to these stakeholders?
- Why should stakeholders be considered during the decision-making process?
- How would you use stakeholder feedback to improve the restaurant?
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