Stakeholder Risk Management in Ethical Decision Making: An Organic Model

Linne Marie Lauesen

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    Abstract

    Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models. This paper offers an ‘Organic Stakeholder Model’ based on decision making theory, risk assessment and adaption to a rapidly changing world combined with appropriate stakeholder theory for ethical purposes in decision making processes in businesses. The ‘Organic Stakeholder Model’ is based on empirical evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply to these kinds of hybrid organizations, but it is easily adopted and tested for other private business models too. The findings and the conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk management models does – for the sake of the wider social responsibilities of the businesses and its stakeholders.
    Original languageEnglish
    Publication date2012
    Number of pages42
    Publication statusPublished - 2012
    EventThe 11th International Conference on Corporate Social Responsibility - Lahti University of Applied Science, Lathi, Finland
    Duration: 8 May 201210 May 2012
    Conference number: 11

    Conference

    ConferenceThe 11th International Conference on Corporate Social Responsibility
    Number11
    LocationLahti University of Applied Science
    CountryFinland
    CityLathi
    Period08/05/201210/05/2012

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