Pros and cons of stakeholders theory

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Pros and cons of stakeholders theory

There are three central concepts of Virtue Ethics, namely: Eudaimonism can be referred to as happiness or having a good life which is said to be achievable by practicing the values of an individual in daily activities and in resolving conflicts while the ethics of care is based on a principle that when it comes to autonomy and justice, men uses masculinity and women, through caring.

Agent-based theories, on the other hand, are about virtues based on intuition that uses common sense. In this concept, character traits are kindness, compassion and benevolence. However, there are four cardinal virtues included in the traditional list.

These are prudence, justice, fortitude or bravery and temperance. According to theologian James Keenan, justice makes it imperative for a man to treat others equally and impartially while bravery or fortitude makes it possible for a person to aim for self-care of protecting oneself.

Fidelity, on the other hand, requires an individual to care for other people close to him or her. Prudence makes a person practice justice, self-care and fidelity.

Lastly, temperance is a virtue that gives a person self-restraint or the ability to do things in moderation, particularly when it comes to eating and drinking. Coined during the 20th century, Virtue Ethics was revived by ethicists to bring about change from deontology and consequentialism.

Here are the presented strengths and weaknesses of this approach: Strengths of Virtue Ethics 1. If a person has virtues, he or she can act morally and will be able to treat others with respect, compassion and love.

These virtues prompt a person to do good things to others because these are innate in him or her, as opposed to the theory of Kant where people are forced to do good deeds out of duty.

Better People Virtues such as generosity, honesty, compassion, friendliness, assertiveness and the like are already present in people and should be practiced in everyday living.

Advantages and Disadvantages of Stakeholders |

The theory of Virtue Ethics makes it possible for people to be better individuals and members of society who are willing to help other people, thinking of others first over personal interest.

With these virtues, people become better persons. Broad and Holistic Having no particular criteria, Virtue Ethics encompasses different virtues which are important live in harmony with other people.

It also does not attempt to worsen the complexity of things by categorizing what are moral acts or not nut instead had developed throughout the years.

Also, as compared to other ethical theories which can be a threat to morality and are confusing, Virtue Ethics is a holistic approach that it considers the totality of a person, including the skills, character traits and emotions.

Pros and cons of stakeholders theory

Agent-centered Another powerful attribute of Virtue Ethics is its centeredness or focus on the character of the moral agent and not concerned on consequence and duty or obligation.

This also makes it flexible since it allows an individual to decide depending on his or her moral values and not just by simply following the law. Sense of Community Virtue Ethics motivates an individual to have high regard to personal relationships and encourage or motivates a person to be sensitive of others and take care of other people.Acclaimed gain a clearer understanding of why and when stake- stakeholder theorists (Agle et al., ) recently holder engagement fails to yield the expected benefits suggested that stakeholder theory is about what good to the firm and its stakeholders.

management is and that we should look at how value is created for stakeholders. Search Results for 'stakeholder theory pros and cons' The Pros And Cons Of Outsourcing Running Head: The Pros and Cons of Outsourcing The Pros and Cons of Outsourcing By Daniel Sweitzer Webster University PROC Abstract Outsourcing.

Ethical organizations and those, who are acting on interest of corporate social responsibility and consequently can affect positively the stakeholders (including customers, communities, society etc.), are able to .

Stakeholders in NHS especially service providers, should use both theory and practice to improve their services (Dutta, ). Practice is the act of doing things physically. In NHS, practice is attending to patients or clients and offering the best services available. The stakeholder theory is a doctrine that ensures companies as organisations are accountable to their stakeholders, and balance divergent interests between stakeholders.

There are three aspects of the theory: 1) instrumental power, 2) descriptive accuracy and 3) normative validity. Search Results for 'stakeholder theory pros and cons' The Pros And Cons Of Outsourcing Running Head: The Pros and Cons of Outsourcing The Pros and Cons of Outsourcing By Daniel Sweitzer Webster University PROC Abstract Outsourcing.

Advantages and Disadvantages of Stakeholders |