State the Hammond Postulate

question 24

Essay

State the Hammond postulate.

Recognize the ethical challenges and potential for unethical behavior within firms.

Grasp the concept of stakeholder orientation and its significance for business success.

Describe the normative and conceptual approaches to stakeholder theory.

Understand the role of shareholders and suppliers and what they offer to organizations.

---

Definitions:

Job Security

The assurance or probability that an individual will retain their job without the risk of becoming unemployed, contributing to employee satisfaction and loyalty.

Telecommuting

A flexible work arrangement allowing employees to work from remote locations, such as their home, through digital communication.

Employee Recognition

The acknowledgment and appreciation of an employee's work and contributions to the organization, often used as a motivational tool.

Globalization

The process by which businesses, cultures, and societies become more interconnected and interdependent through trade, communication, and technology on a global scale.