Question One
A legitimate stakeholder means an individual or a group of people who have significant influence over the achievement of a company .The funders hold the most important objectives of a specified company. They bear the risk of the company since they invest their capital hence have something to gain or lose depending on the firm’s activities (Weiss, 2014 ). Therefore, the fact that the primary task of managers and executives of a company remains to make stakeholder’s interest’s and rights, a priority is entirely plausible in my opinion. In the past, firms were owned by individuals who managed and funded their businesses. However, in the recent period the business world has evolved such that the stakeholders have the power to dictate what happens in the firm especially if they have significant shares in the company.
The managers must consider shareholders interests above those of everyone else including the customers since the shareholders act as bosses over the enterprise according to the dominant model (Weiss, 2014 ). The model does not change regardless of the laws protecting the customers. In the cases where customers are not satisfied the hence change in preferences, decisions are made based on how the market forces might affect the shareholder value. It does not matter whether customers are satisfied given shareholder value is on point (Freeman, 2010). The current law on consumer rights has changed to accommodate the shareholders since they have the say over their firms. Nevertheless, the business world should be an environment in which everyone is satisfied with the services offered by customers to the staff. The capitalist spirit enables competition among the forms hence leading to better products and services.
In the long run, caring extensively for the stakeholders incorporates all the people involved in the businesses of the firm. The capitalist rule demands that an individual should accommodate others in their pursuit of creating a better place for humanity as they strive for higher success.
Question Two
Every individual wants security in his/her job. However, safety is one thing that employees do not have because they are ‘at will’ employees. At will, employees imply that the employer has the right to cease the job contract any time with or without any reasons (Richard, 2011). The law seems very alarming, yet most people chose it as it is one of the best terms of employment. Though workers may accept various terms of employment including at-will employment, it does justify the violation of their labor rights (Harcourt, Lam &Hannay, 2013). At-will employment has various limitations to the rights of workers. Such violations, though accepted, remain to be the infringement of employees’ rights.
Firstly, as argued by Radin and Werhane, at will employment violates the employees of their fundamental rights. In the process of the job, such rights are never confiscated. Examples of such rights include the freedom of expression, specific property rights and the right to privacy. At will employment violates such rights because an employee may remain dismissed from job as a result of what the he speaks. A company may also terminate a worker because the worker defected to submit certain medical test results (Richard, 2011). In either case, the employees’ rights of speech and privacy have been violated respectively. In the process of at will employment, however, such rights are never forfeited (Harcourt, Lam &Hannay, 2013).
Secondly, at will employment may also violate the worker’s primary right of fairness. The employer can dismiss an employee just because he does not like the looks of the employee. Employment may stay terminated because the employer does not like how the worker talks. However, there are stipulated hiring laws that guide the employees against such mistreatments. However, Radin and Werhane argue that with the dedication of the employer to fire a worker, the employee has no right to appeal, and the company will finally discharge the employee. In conclusion, at-will employment is the act of violating many other rights of the employees although they accept such terms. (Harcourt, Lam &Hannay, 2013).
References
Freeman, R. E. (2010). Strategic management: A stakeholder approach. Cambridge: Cambridge University Press.
Harcourt, M., Lam, H., &Hannay, M. (2013). Employment at Will versus Just Cause Dismissal: Applying the Due Process Model of Procedural Justice. Labor Law Journal, 64(2), 67.
Richard, C. (2011). Employee Rights Handbook. Newyork: Minute Help Press.
Weiss, J. (2014). Business Ethics: A Stakeholder and Issues Management Approach. San Francisco, California: Berrett koehler ,inc.
