Shareholder and Stakeholder-Oriented Management - Toward a More Complete Approach

26 Pages Posted: 5 Nov 2008 Last revised: 19 Dec 2008

See all articles by Domenec Mele

Domenec Mele

University of Navarra, IESE Business School

Abstract

A debate between shareholder and stakeholder normative theories for management has been going on for years, but this debate is far from over. This paper tries to contribute to the clarifying of this debate. Both approaches have their own view of the firm, which is closely related to their respective idea on the purpose of the firm in society and with the orientation given to corporate governance. This article suggests that, while both approaches present interesting insights, they are incomplete in their anthropological and ethical grounds. New directions are suggested which would include a more complete model of the human being and a different view of the firm and its purpose. Consequently, new orientations for corporate governance would be needed.

Keywords: Shareholder Theory, Stakeholder Theory, Business as community, Humanism, Philosophical Anthropology, Business Ethics

Suggested Citation

Mele, Domenec, Shareholder and Stakeholder-Oriented Management - Toward a More Complete Approach. 1st IESE Conference, "Humanizing the Firm & Management Profession", Barcelona, IESE Business School, June 30-July 2, 2008, Available at SSRN: https://ssrn.com/abstract=1295301 or http://dx.doi.org/10.2139/ssrn.1295301

Domenec Mele (Contact Author)

University of Navarra, IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034
Spain

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