Social Contract Theory in business Essay Example | Topics and Well Written Essays - 1000 words

Social Contract Theory in business - Essay Example How should a manager look at this Weiss (2005) describes the Stakeholder Theory (behind Jane's statements) as having become an established framework in identifying and examining the impact of organization action. It posits a model in which "all persons or groups with legitimate interests participating in an enterprise do so to obtain benefits, and there is no prima facie priority of one set of interests and benefits over another" (Donaldson and Preston. In Weiss 2005). It is based on the idea that the enterprise exists to serve the many stakeholders who have an interest in it or who in some way may be harmed or benefited by it. The model rejects the idea that the enterprise exists to serve the interest of its owners, be it maximizing their wealth or some other reason for being in business. The flaws in the conceptual and empirical foundations of theory has cracks that serious questions can be raised concerning the utility and validity of any moral conclusions or prescriptions it offers (ibid). According to Younkins (1997), the stakeholder theory has merit as a management strategy. As an ethical theory, however, the emphasis on stakeholders is problematic as it erroneously suggests that corporations are possessions and servants of larger society. This theory is said to misinterpret Kant's principle because what Kant actually said was that every human being is entitled to be treated not merely as a means but also as an end in himself. Further, stakeholder theory implies a multi-fiduciary approach that goes against the idea of free markets, property rights, and the special moral responsibility of management to the stockholders. On the other hand, Social contract theory (which Brett seems to espouse) advocates a free market economy supposed to result in the best product at the best price, serving the common interest. It, therefore, counts every corporation to be bound by social responsibilities and put in the hands of the people the power to permit their operations (Roddy 2005). Social contract theory holds that obedience to law is required of anyone who would enjoy its protections and advantages. An example of this is said to be accepting a court's decision in your favor to mean also accepting the one against your interests. Only in this way will others agree to abide by rulings when the decision of law favors you to their disadvantage. By refusing to sacrifice your own interests in some cases, you risk going it alone in what is called the "state of nature" which is considered a terrible alternative (ibid). Hasnas (1998) goes back to presenting three current leading normative theories of business ethics as the stockholder, stakeholder, and social contract theories. Accordingly, the stockholder theory is the oldest of the three, but out of favor with many contemporary business ethicists. To them, the stockholder theory represents a disreputable holdover from the bad old days of rampant capitalism. In contrast, the past decades has seen the stakeholder theory gain much popularity that it may be considered the conventionally-accepted position within the business ethics community. In recent years, however, the social contract theory has been cited with considerable acceptance and might accurately be characterized as challenging the stakeholder theory for preeminence among normative theorists. What is the stand of the manager then Hasnas (1998) presents a contrarian review of these normative theories,

The student to competently insert an indwelling urinary Catheter Essay

The student to competently insert an indwelling urinary Catheter - Essay Example According the Nursing and Midwife Council, it is the duty of a mentor to create a suitable environment that will allow for learning and development. The mentor should also familiarize the students with the risks associated with this process. This is so because indwelling urinary catheterisation is not a simple or risk-free procedure as many may think. It is approximated that urinary catheters cause 24 percent of all hospital infections. Patients who have catheters and get UTIs in primary care settings tend to have greater contact with their GP (Rhinehart Friedman& Rhinehart, 2006). My first approach to the mentoring process was by uniting both the nursing team and the students. This was to help me achieve a conducive learning environment which is important for all the nursing teams and students to work together as a team. As stated by Doughty (2006), positive attitude contributes a lot to the learning process of indwelling urinary catheterisation. This will allow the student to gain the courage to approach the team without fear that will support them while onward hence making them become part of the nursing team. I chose ward environment since it was the most appropriate for this kind of process. The environment was very conducive because it provided the student with a chance to participate in real life nursing environment hence making it realistic. It will enhance their understanding by illustrating and showing the students the procedures followed and also introduce them to different types of equipment needed to carry out the process successfully. This strate gy enabled the student to understand the process better than telling them theoretically since practical improves ones understanding about a particular topic as in this case the urinary catheterisation. As said by Allen (2015), it is crucial to recognize different learning style and theories. In order to achieve effective learning, the students