Political philosophy interpellated by stakeholder theory

Abstract

Because it articulates the existence of economic activities and agents in both society and the market, stakeholder theory is generally associated with a value-led approach to management, or, in other words, with business ethics. It is considered to have made a major contribution to corporate social responsibility. However, less interest has been taken in its contribution to social and political philosophy. This chapter examines how stakeholder theorists question contemporary political philosophy by focusing on its unresolved issues. In effect, questions such as the social contract, equality, and social justice are inherent to stakeholder theory. Consequently, the theory is applied beyond the sphere of its original management environment to question philosophical categories, while at the same time acknowledging the differences between one field and another. For stakeholder theory, the firm is the center; for political and social philosophy, the construction of public life, of the common good, of the art of living together has no center, and if one does in fact exist, it has nothing to do with economic life. This section examines the borders established between political, social and moral philosophy, on the one hand, and management science on the other; in it, an attempt is made to highlight the concept of “porosity” (Bonnafous-Boucher 2006).