Stakeholder Theory and Marketing: Moving from a Firm-Centric to a Societal Perspective

This essay is inspired by the ideas and research examined in the special section on “Stakeholder Marketing” of the Journal of Public Policy & Marketing in 2010. The authors argue that stakeholder marketing is slowly coalescing with the broader thinking that has occurred in the stakeholder management and ethics literature streams during the past quarter century. However, the predominant view of stakeholders that many marketers advocate is still primarily pragmatic and company centric. The position advanced herein is that stronger forms of stakeholder marketing that reflect more normative, macro/societal, and network-focused orientations are necessary. The authors briefly explain and justify these characteristics in the context of the growing “prosociety” and “proenvironment” perspectives—orientations that are also in keeping with the public policy focus of this journal. Under the “hard form” of stakeholder theory, which the authors endorse, marketing managers must realize that serving stakeholders sometimes requires sacrificing maximum profits to mitigate outcomes that would inflict major damage on other stakeholders, especially society

Making Sense of Business Ethics - About Not Walking the Talk

By using a sensemaking perspective, this article argues that it is not relevant to fully expect firms to walk their talk in ethical matters. Accuracy between words and deeds is utopia in a post-modern world, with chaos and complexity. Integrating diverse ways of doing ethical business across global regions rather creates legitimacy, trust and a good image among firms in business networks. So what is the role of the ethics code? The article gives examples from a case study on Stora Enso, where the ethics code has a certain strategic meaning, but where the CEO also states that the firm has to do what it says, and say what it does. In short, the article discusses a new paradigm which influences how one can make sense of business ethics in the contemporary and global business market

Corporate social responsibility in the new global economy

This paper is a discussion of the rights and responsibilities of global corporations. Multinational and transnational corporations of the new economy face a serious difficulty in being ethical today. The environment is subject to the enormous influence of material monism and ethics becomes at times a question of profits. This paper discusses a few aspects on ethical marketing strategies, the use of ethical codes and corporate survival under the pressures of increasing globalization. The purpose of the paper is to investigate the situation of the individual global company in handling the issue of corporate ethical responsibility. Is ethical action a dilemma or an opportunity

Corporate social responsibility in the new global economy

This paper is a discussion of the rights and responsibilities of global corporations. Multinational and transnational corporations of the new economy face a serious difficulty in being ethical today. The environment is subject to the enormous influence of material monism and ethics becomes at times a question of profits. This paper discusses a few aspects on ethical marketing strategies, the use of ethical codes and corporate survival under the pressures of increasing globalization. The purpose of the paper is to investigate the situation of the individual global company in handling the issue of corporate ethical responsibility. Is ethical action a dilemma or an opportunity?