I enjoyed Ed Freeman’s lecture he managed to communicate many concepts and great examples in only an hour.
I would have asked him what he would suggest that simple consumers do in order to support organizations that value their stakeholders. I was curious what his views are about boycotting and protesting.
I believe the question has value due to the fact that not all of us want to be entrepreneurs (as seen after he asked the question to the audience). In our work we will undoubtedly have decisions to make that will impact the company’s shareholders, but we also have a role to play when we engage in consumption. Being aware of our impact would therefore help changing culture surrounding business.
Let me start off by saying by acknowledging how much I enjoyed Ed Freeman’s lecture. After reading several of his works I was definitely intrigued to listen to what he had to say, but in no way thought it was going to be as interesting as it was. I felt that his lecture was very down to earth and relatable. I especially enjoyed his use of examples of companies that I was familiar with.
Although I did not get to ask my question someone in the crowd asked a very similar one. I wanted to ask Ed Freeman how one identifies a company that prioritizes ethics and takes their stakeholders interests into serious consideration when making decisions. I found the question that most closely related to this was the one about when interviewing with companies how do you identify the ones that are more stakeholder oriented than shareholder. I found Freeman’s response to be very clear and wise. He said “look at what they do rather than what they say”. He acknowledged how companies will show you pamphlets of their company mission and more information about them. He said that’s when you ask to see their budget. By doing this you can see where they are REALLY allocating their resources and whether or not they are all talk or actually follow through with what they say they do. Being a younger adult who will soon venture into the professional business world I found this to be great advice to have in my back pocket and keep in mind when interviewing with companies.
I want to start off by saying, I expected Ed Freeman’s talk to be significantly educational, but wow….I didn’t know that he was going to have the most awesome beard. After reading many of the posts regarding Freeman’s speech, I wanted to take a bit of a different approach in regards to his theories of ethics for businesses. Continue reading School or Business?
Ed Freeman was much more down to earth than I anticipated him to be. I expected that he would be a more theoretical speaker, and that he would focus more on ideas from what he has written at a more in-depth level, or at least discuss more about shareholder versus stakeholder value theory. Continue reading Were you satisfied with Freeman’s talk?
Questions for Freeman before watching Stakeholder Theory
- Do you think the media typically has a negative impact on how the public views companies?
- How do you think the Internet and social networking sites changed the way companies operate both internally and externally?
- If Milton Friedman were alive today, what would you want to say to him?
Continue reading Stakeholderism and the lack of “good” work
I really enjoyed the overview of Stakeholder Theory video by Ed Freeman. I have realized over the past few weeks that I want to have my paper 1 focus on the benefits of stakeholderism, and how shareholderism can leave a company exposed to severe potential risks. Therefore, I found this Ed Freeman video to be very helpful, a strong supplement to enhance my paper. Continue reading Ed Freeman Reaction
My question to Ed Freeman was
“In your book “Managing for Stakeholders”, you write about a technique for managing your stakeholders “to convince the group to want the same thing as the firm”. My question for you is “In the internet age where companies in power can control what gets media attention and what consumers believe, is this an ethical strategy for businesses to implement?”
For some background on why I asked the question, I want to first explain what I thought when I read that passage from Ed Freeman’s book. My interpretation of this was that whatever goals a company has, whether they are to brainwash consumers into buying their products, or sending false information into the press to ignore the environment, etc. When I thought about companies convincing stakeholders to want the same thing as the firm wants, I tend to think of negative examples.
However, the example that Ed Freeman gave suggested a much different approach to this strategy. He believed that Amazon recommending a book that he ended up enjoying was a good example of this strategy being correctly implemented. He also went on to say that the “getting stakeholders on-board” strategy is meant to help stakeholders realize that the company’s goals are in the stakeholders’ best interest as well. This places the responsibility on the company to make decisions that will benefit stakeholders. Although I do not know whether Ed Freeman has clearly explained how companies can make decisions that are in the best interest of the stakeholder, I do think that; if possible, it would be acceptable “to convince the group to want the same thing as the firm”
Although the roundtable discussion and lecture with Ed Freeman was way more palpable than I was expecting, I felt slightly unsatisfied with many of Freeman’s answers to questions posed by students and audience members at the night lecture. Continue reading My conflict with conflict
A question I would ask Ed Freeman: Have your theories of stakeholderism changed over time because of events in the financial world/catastrophic global events? And a follow up question, do you think Stakeholder Theory will hold true in the next 50 years?
In terms of the way Freeman seemed to answer every question that was thrown at him– he seemed to say “my theory is perfect, but no company is perfect, so it is impossible to follow it”. Especially when Jordi himself questioned Walmart’s Stakeholder practices, Freeman answered in the aforementioned manner.
Is Freeman’s theory about Stakeholderism now impotent because even he believes it is impossible for any company to stay true to the theory? Or is Stakeholder theory just a soft guideline?
Overall, I thought Freeman kept his talk very concise and used real world examples, which I am a huge fan of.