Business Ethics Essay Example | Topics and Well Written Essays - 1750 words - 3

Business Ethics - Essay Example He further argues that those stakeholders that have greater power, urgency and legitimacy may impact business performance. For instance, PricewaterhouseCooper Company engages in policymaking process in the company. Therefore, in case they apply greater power and other salience models, they may end up creating a hindrance to effective organizational performance. However, there are both benefits and limitations of employing salience model in this engagement activity. The benefits include significant contribution to the thought leadership and developing effective solutions to global challenges. However, the problems may include posing challenges and create threats to global issues. What is a possible future employer of me actually doing in terms of stakeholder engagement activities? What do I think of their activities? Can I see any link with Power, Legitimacy and Urgency, and why they chose this stakeholder engagement activity? The possible future employee in terms of engagement activi ties will participate in effective decision-making process, informing talent strategy, advisory panel, engaging in corporate responsibility reporting and participating in other significant corporate roles. Their activities enhance quality services in business activities; hence, it is vital to conduct business in accordance to the organization requirements and guidelines. Engaging stakeholders in business activities is vital but it is recommendable to classify them according to their work performance. This is because stakeholders differ and some have varied interests in business activities. For instance, the salience model is widely employed by many stakeholders in business activities across the globe; thus, employing an effective stakeholder management strategy can enable one to meet their need and expectations successfully. Therefore, there is a significant link among power, legitimacy and urgency because this stakeholder engagement will lead to better management and influencing ot her towards achieving organization goals efficiently. What could/should, if I had the choice and decision-making power in my future employers company, the company be doing, which it currently isn’t, in terms of stakeholder engagement activities? How, using Mitchell’s et al’s. (1997) â€Å"salience† (importance) attributes (Power, Legitimacy and Urgency); can I rationalize that as a good activity for them to be doing? In case I had a choice and decision making power in my future employers company, the stakeholders in the company would not participate in some responsibilities such as accounting management roles, recruiting employees and other minor company activities. This is because some stakeholders may apply their power, legitimacy and urgency in a manner that may pose challenges to effective performance; thus making employees to become unproductive. Stakeholders can affect the business outcome positively or negatively (Crane and Matten, 2004). For insta nce, some stakeholders may use power to take control of investors in case the company is privately held rather than publicly traded. By using Mitchell’s salience model attributes, I can rationalize good activities for stakeholders such as planning, decision-making process, direct management and project coordination process. Seminar Four: Ethical Leadership Debate Guiding Reflective Question Student Reflection What was the definition of ‘