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Description Canadian Business and Society Ethics Responsibilities and Sustainability 3rd Edition Solution Description Canadian Business and Society Ethics Responsibilities and Sustainability 3rd Edition Solution Sample Chapter Below: Instructor’s Manual Canadian Business and Society Ethics, Responsibilities and Sustainability, 3e Chapter 3 – Identifying Stakeholders and Issues The purpose of this chapter is to ensure that students learn to identify all stakeholders of the corporation generally and in relation to particular issues confronting the corporation. CHAPTER GUIDE Use of the “What would you do if?” Vignette This vignette illustrates the complexity of stakeholders relating to an issue that may not seem to involve ethics. But, it does as some stakeholders are harmed and there is the matter of fairness. There are several issues, or concerns, illustrated that relate to the fundamentals of business enabling the vignette to provide a bridge from Chapter 2.

This should remind students of the materials covered in the previous chapter. List of stakeholders with influence or how influenced: Stakeholder Influence and/or how influenced Small business persons (John) Cost of doing business increased. Questionable what they could do individually to influence Government.

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Business and society ethics sustainability

Local brokers Adversely impacted if policy changes. As individuals and through industry association appear able to influence Government.

Insurance Brokers Association of Canada Appear to be very influential. Employees of local brokers. Harmed, but unlikely to be able to do anything Banks Harmed in the sense that unable to enter market.

Capable of lobbying Government. Canadian Association of Bankers Lobbies on behave of bankers. Bank employees Fewer hired than might be Media News coverage alerts public to issue. Consumers or customers Depends whether the bankers’ or brokers’ view is believed!

This table can be used to answer Critical Thinking and Discussion Question #1. The issues can be stated as: • What should be the nature of competition in the insurance industry?

• Is it appropriate that the role of Government protects one industry? • Is the economic freedom of any business being violated? • Is consumer sovereignty being harmed? • How can John do anything about the situation?

In other words, how can he make his concerns known, or how can he influence Government? Refer to “Your advice to Tom, page 67. Chapter LO3.1 The Stakeholder Concept and Business Recognize business as one institution in society and that its activities are influenced by other institutions and individuals referred to as stakeholders. This short section makes the important point that business has an influence and/or is influenced by many other individuals or organizations in society. LO3.2 Defining and Identifying a Stakeholder Define and identify the corporation’s stakeholders generally and the stakeholders relating to particular issues confronting the corporation.

The definition of stakeholder is made clear. Managers must seek out stakeholders; they do not always identify themselves, or are not obvious.

Stakeholders are numerous and not always obvious as the insert illustrates. Sixteen stakeholders are identified in this section.

They are identified by generic terms, but in reality may be identified more specifically, for example, the media is identified by particular newspapers, radio stations, and television channels. Likewise, suppliers would be identified as electricity and telecommunications providers, inventory (that is, products sold), or furniture providers. In other words, they are anyone who provides goods and services to the corporation. Responsibility for Ethics 3.1: Ethical Consumers These are examples of how consumers have influenced or can influence how goods and services are sold to them. There will be other examples throughout the book.

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