Does the Stakeholder Theory Constitute a New Kind of Theory of Social Responsibility?
In a recent paper, Kenneth Goodpaster formulates three versions of the stakeholder theory of corporate social responsibility. He rejects the first two versions and endorses the third. I argue that the theory that Goodpaster defends under the name “stakeholder theory” is a version (albeit a somewhat...
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Format: | Electronic Article |
Language: | English |
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Cambridge Univ. Press
1993
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Business ethics quarterly
Year: 1993, Volume: 3, Issue: 2, Pages: 171-176 |
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520 | |a In a recent paper, Kenneth Goodpaster formulates three versions of the stakeholder theory of corporate social responsibility. He rejects the first two versions and endorses the third. I argue that the theory that Goodpaster defends under the name “stakeholder theory” is a version (albeit a somewhat different version) of Milton Friedman’s theory of corporate social responsibility. I also argue that the first two formulations of the stakeholder theory which Goodpaster discusses are at most only slight modifications of other theories. I conclude by formulating a fourth version of the stakeholder theory which I believe does constitute a substantial departure from earlier theories of social responsibility. | ||
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