Signin/Signup
x
Info
x
Warning
x
Danger
 / 
Textbook Solutions
 / 
Ethics
 / 
Business and Professional Ethics 7th Edition
 / 
Chapter 5 ( 2)
Not my Question
Bookmark
Flag Content

Solution for Business and Professional Ethics 7th Edition Chapter 5, Problem 2

by Leonard J. Brooks, Paul Dunn
592 Solutions 9 Chapters 62128 Studied ISBN: 9781285182223 Ethics 5 (1)
Chapter 5, Problem 1
Chapter 5, Problem 3

Chapter 5, Problem 2 : 2.Explain why corporations are legally responsible to shareholders...

2.Explain why corporations are legally responsible to shareholders but are strategically responsible to other stakeholders as well.

Step-By-Step Solution

2.Corporations are created under the laws of a particular jurisdiction (Country, state, province …) and the directors, as agents of the shareholders’, must account to those shareholders and must follow the laws of the jurisdiction in which they are incorporated as well as where they operate.  In addition, according to stakeholder theory, corporations need the support of their stakeholders to reach their strategic objectives on a continuing and sustainable basis.  This support can best be obtained it the corporation take into account the interests of stakeholders when building and implementing its strategy.  Consequently, corporations are legally responsible to shareholders and strategically responsible to a broader set of stakeholders.

Recent Guides
View All

Unlimited Access Free
Signup & Access More than 10 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
All Chapters Solved
Satisfaction Guarantee
Explore Now

FAQ's

Is this a textbook?

We do not endorse or sell any Textbooks in this service. This is only a solution guide for the textbook shown. So, you will find all the answers to questions in the textbook, indexed for your ease of use. ExploreNow!

I am unable to find the book I need.

You can request for your textbook to be answered. While you may get the book resolved within 15-20 days’ subject to expert availability and can access it at no cost if you are premium member, We encourage you to use our Study Help service for the specific question or even a full chapter you currently, need within a 24-48-hour window.

My book is similar but not the same!

This may be due to different versions or editions of the same book. You can check the table of contents and match the questions in each chapter (As you can see, the questions are free to view for the entire book). You can subscribe if you decide the step-by-step solutions will be useful albeit the differences.

Not all questions are answered!

We try not to post guidebooks that are under progress. However, some guides are so high in demand that we have to post them as we work on them. If you find the notification stating, "An expert is currently solving this for you" in the answer section, you can contact customer support to know the status or even get an instant answer if you are a premium member.

The ISBN's are not matching!

Check if there are other ISBN's mentioned on the book cover page. If it still does not match, check the samples available to ensure you are on the right guide. 

Can I see some samples?

Every chapter in the book has the first three solutions displayed in full for free. Browse the chapters and questions to view the same. 

Is it possible to see a specific answer before I subscribe?

Contact customer support via Live Chat to request the same. They will assist you with the full answer if it is a simple question or a partial answer to assure you of the availability if it is a large solution.