Stakeholder capitalism: promise or peril?

When dealing with organizational ethics, quite some of the concepts discussed seem detached from reality or arcane. Stakeholder management is far from this: it is, at least at the onset, easily accessible, has intense consequences, and is a gift from business ethics to the world of economic theory that has the potential to revolutionize corporate governance. But as we know, with great power comes great responsibility. What is stakeholder capitalism and what can we really learn from this framework?

This studymag will focus on a critical analysis of one of the most influential models of modern-day capitalism: what is stakeholder management and how should corporate social responsibility be properly conceptualized in this context?

Facing a world that is torn by ever-escalating crises and the prospect of serious climate change on the cusp of a global catastrophe, we will have to cover, among other questions, this one with priority: how, if ever, does ethical progress happen and what are prerequisites of collective and individual development related to business ethics?