Need help writing an analytical essay for the following topic , with example of

Question

Need help writing an analytical essay for the following topic , with example of a firm /industry.

In “Managing for Stakeholders”, Edward Freeman argues that the “dominant model” for business management has several key problems, and he proposes an alternative model called “stakeholder theory”. In this analytic essay, please evaluate Freeman’s theory by applying it to one firm or industry with which you already have familiarity. Answer the question : would the adoption of Freeman’s approach improve or harm that particular firm or industry.

Be sure to consider at least one strong counter-argument.

Explanation / Answer

Stakeholder theories is different from shareholder theory. If we talk about the conservative approach, the company makes profit and perform better to increase the return to its shareholders who are the actual investors of the Company. The company considered doing good business when their shareholders are satisfied and getting good returns on their investment which is basically bonus and dividend.

Now in the modern era, the company owes an responsibility not only towards its shareholders but also towards anyone who is affected by it's business. These group include employees, suppliers, customers, bankers who provide the funds, creditors and society to which they owe natural resources. Together they contribute towards the success of any business. Any company who takes care of all groups in good ethical manner is successful.

Many examples are there, the company I am familiar with is ZS associates, the top shot, if we look around their internal policies, they are so good in taking care of their employees and their needs. Also, they are transparent and very honest towards their supplier's payment, bank refund and customers. They also contribute towards Corporate Social Responsibility. They hire employees having cream layer background.

Today, every company making efforts towards stakeholder's theory then the conservative approach of shareholder's theory. Adoption of this would add good reputation or goodwill of the company which automatically increases the market share of the business and ultimately shareholders will be getting good returns.

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