The Triple Bottom Line as the answer to the primary responsibility of the manager

Inhaltsverzeichnis (Table of Contents)

• Introduction
• The Stockholder Theory
• The Stakeholder Theory
• The Triple Bottom Line
• Conclusion

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This paper examines the primary responsibility of managers, exploring the contrasting perspectives of the stockholder and stakeholder theories. The author argues against the exclusive application of either view and advocates for a synthesis through the Triple Bottom Line framework. This analysis seeks to provide a nuanced understanding of managerial obligations in a complex and dynamic business environment.

• Managerial responsibility
• Stockholder vs. stakeholder theory
• Corporate social responsibility (CSR)
• The Triple Bottom Line concept
• Ethics and moral considerations in business

Zusammenfassung der Kapitel (Chapter Summaries)

The introduction sets the stage for the paper by highlighting the relevance of the question of managerial responsibility in light of recent corporate scandals and the financial crisis. It presents the traditional stockholder view, which emphasizes maximizing shareholder wealth, and the alternative stakeholder view, which acknowledges the fiduciary duty to a broader range of stakeholders.

The chapter on the Stockholder Theory delves into the arguments of Milton Friedman, a prominent advocate for this perspective. Friedman asserts that the sole responsibility of business is to increase profits, within the bounds of ethical and legal practices. This chapter analyzes the advantages and disadvantages of the stockholder view, including its potential to benefit stakeholders beyond shareholders and its economic rationale.

Schlüsselwörter (Keywords)

The main focus of this paper is on the concept of the Triple Bottom Line, which aims to balance economic, social, and environmental considerations in business decision-making. Key themes explored include managerial responsibility, stakeholder engagement, corporate social responsibility, and ethical considerations in a globalized economy.