5-2 Ethics and stakeholders Stakeholders: people or groups that have an interest in the organization Stakeholders include employees, customers shareholders, suppliers, and others Stakeholders often want different outcomes and managers must work to satisfy as many as possible Ethics: a set of beliefs a bout right and wrong. Ethics guide people in dealings with stakeholders and others, to determine appropriate actions Managers often must choose between the conflicting interest of stakeholders " win/MeGraw-HHill CThe McGraw-Hill Companies, Inc, 2000Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 5-2 Ethics and Stakeholders ⚫Stakeholders: people or groups that have an interest in the organization. ◼ Stakeholders include employees, customers, shareholders, suppliers, and others. ◼ Stakeholders often want different outcomes and managers must work to satisfy as many as possible. ⚫Ethics: a set of beliefs about right and wrong. ◼ Ethics guide people in dealings with stakeholders and others, to determine appropriate actions. ◼ Managers often must choose between the conflicting interest of stakeholders