Reference no: EM133559202
Assignment:
In the past few decades, the focus has moved from the shareholder or stockholder paradigm, stating that businesses "cannot have responsibilities" (Friedman, 1970; 1972, p. 2), to the stakeholder paradigm (Freeman, 1984; Freeman & Reed, 1983), thereby broadening the theoretical and practical debate about the role and responsibility of businesses in society and how wide their responsibility is. This requires the recognition of stakeholders not necessarily accounted for, namely the natural environment and non-human stakeholders, i.e. other species, and under-represented human stakeholders, for example, infants, youth, elders, and future generations (Arruda & Johannsdottir, 2022). This also requires new types of stakeholder management models (Fifka & Loza Aduai, 2015; Arruda et al., 2022). Types of questions to explore in this theme include, for example:
I. How can the voices and interests of stakeholders, otherwise excluded from engagement and participation, be included when discussing and acting on environmental sustainability issues?
II. Who has the capacity and the licence to speak and ensure the interests of non-human and human stakeholders?