Individual Rights vs Common Good

Conversation Both individual rights and basic great must be secured. In a perfect world, if a couple of individuals go enduring in a network, lion's share of individuals from such networks are more troubled than if many endure in so far a way puts (Fitzgerald, 21). Besides, people not just brain increasingly about individuals of their own networks, however keep up that they are legitimized in doing so.Advertising We will compose a custom paper test on Individual Rights versus Common Good †Essay with Examples explicitly for you for just $16.05 $11/page Learn More To secure the benefit of everyone, an individual has a more elevated level of commitment to his own locale than all others. In Beloved, Morrison inspects clearly the time of servitude and the enduring of dark slaves (Morison, 24). This paper analyzes how individual rights influence normal great. Singular rights and regular great are similarly reciprocal Relationship between Individual Rights and Common Good In old style sense, individuals ought to be kept up as holders of aggregate rights. Both great of an individual as an individual, and as an individual from network are the two products of one and same individual. These products can be separated yet ought not be isolated. Consequently, rights expected to make sure about every one of these products can't be isolated either. This happens despite the fact that they can be separated one from another. Both individual rights and normal great must be perceived if the privileges of the entire individual are to be regarded. This asserts a typical decent can't be isolated from singular privileges of an individual who is a piece of that society (Purdy, 50). A people share in the benefit of everyone is the most elevated appropriate great of that individual. Despite the fact that not an adequate condition for the advancement of the benefit of everyone, singular rights are in any case a vital condition (Fitzgerald, 25). Without singular rights, it is hard to s tart to advance the benefit of all. Therefore, there will be no insurance of individual’s share in the benefit of everyone without the assurance of individual rights. Therefore, there must be a perceived relationship of individual rights and basic great. This linkage ought to be tied down into law (Paine, 46). When Morison talks about connections that should exist of mother to little girl, this privilege must be comprehended as a component of more extensive normal great to give youngsters a childhood as indicated by the directs of their still, small voices. This happens in any event, when their inner voices are in blunder with respect to what, in explicit occasion, establishes what is acceptable, terrible or ugly.Advertising Looking for article on sociologies? How about we check whether we can support you! Get your first paper with 15% OFF Learn More Morrison cautiously constructs the story with foundation of servitude as supported by network as regular great (Morison, 47). S he grounds her story on authentic records. Dark ladies truly, wanted to kill their youngsters now and again instead of let them experience the brutalities of subjection. Though the slave proprietors defended women’s victimhood, examinations given among spouses and slaves is essential to recommend chauvinist and bigot abuse. Ladies will in general look for and find comfort in parenthood. For dark slaves, notwithstanding, it is a wellspring of improved trouble (Purdy, 23). Racial Victimization of Women Individual rights require people not to be oppressed by race. Infringement of the option to rise to racial acknowledgment thus influences the benefit of all in the public eye. Morison investigates the most excruciating period oppression blacks by whites in dark history (Morison, 105). Subjugation has in actuality been a racial-based establishment throughout the entire existence of USA, Morrison composes the book Beloved as a commitment to this savagery on the dark race. Dearest i s set previously and following liberation (Morison, 106). Singular right to training, in the wide sense, to kids is a characteristic right (Purdy, 27). This ought to be a need right of State. This doesn't imply that privileges of guardians to their youngsters are discretionary. Their entitlement to secure an instruction is subordinate to normal and perfect law. The execution of this privilege ought not involve concealment of this right. Morison upholds articulately refusal of instruction to dark slaves in America. Training was discovered a bit much, at more terrible, unlawful for dark individuals (Morison, 104). The individual privileges of blacks were totally abused; as they were viewed as creatures that were not cognizant (Morison, 193). Sex Victimization of a Woman Individual right to opportunity, in the more extensive sense, to dark ladies is an unavoidable right (Paine, 25). The state ought not have endorsed demonstrations of servitude. For example, singular privileges of peopl e to be liberated from servitude created the benefit of everyone of their liberation from subjugation. Singular rights straightforwardly influence the normal good.Advertising We will compose a custom paper test on Individual Rights versus Common Good †Essay with Examples explicitly for you for just $16.05 $11/page Learn More Slavery shortened opportunity of dark ladies (Morison, 23). It was simple for dark ladies to accomplish womanhood guidelines because of cultural limitations forced by State. Womanhood is the benefit of all that is unavoidable to each liberated individual. Slave proprietors didn't accord ladies opportunity and triumph since they were dark and were not male. The skin of dark ladies ordered them inside the section of a mediocre race. Their sexual orientation then again, kept them to be respected modest in the public eye. They are viewed as brainless even by dominant part of dark men. Dark guys endeavor consistently to stump their power over dark ladies to feel consoled of their masculinity. In these conditions, dark lady endures parenthood as the most excruciating period in her subjection life (Purdy, 234). Person’s have singular rights to be agreed security by divine law. Powerful numbness isn't permitted as a reason of infringement of the benefit of all (Purdy, 23). Insurance and wellbeing of youngsters is a typical decent which the state has the privilege and obligation to force. In Beloved Denver is a casualty of youngster misuse (Morison, 253). Her adolescence in starting years is gone through in jail alongside her mom. Her individual rights are outrightly abused She is derided by the general public for the wrongdoing submitted by her mom. She burns through the majority of her youth in dread of being murdered by her mom. She is a terrified mentally (Morison, 255). She wished to get a route from her mom who has been condemned by law and society which has denounced her on sins submitted by Sethe (Morison, 256). Morison portrays the impact of individual rights on the benefit of everyone (Morison, 6). Youngsters have singular option to mind and stable family. Every one of her youngsters were sold in early stages so she discovers Sethe’s act excessively glad and egocentric (Morison, 45) For Baby Suggs, Sethe has thought little of her luck.Advertising Searching for article on sociologies? We should check whether we can support you! Get your first paper with 15% OFF Find out More She has her entire family with her and gets the opportunity to see her posterity grow up while she has dubious recollections of her own kids, sold in their incredible larger part before their weaning time (Morison. 5). Truth be told, Sethe in her need to bind together her family is gotten by her slave proprietor. She will not let him tarnish them as he has done to her, so she executes her third youngster, an infant young lady and damages the two seniors. Her solid emotions are in opposition to the slave morals as it is expressed by Paul (Morison, 45). In any case, Sethe has decided; she won't let the white men tarnish her kids like they have just finished with her (Morison. 251). End Indeed, white and male discourteousness has driven ladies to end as dangerous like Sethe. Sethe for example, rather than letting her youngsters come back to Sweet Home and afterward live later the barbarities of bondage, has decided to slaughter them individually before executing herself. She executes he r infant young lady before being halted and harms her two children (Morison, 203). At that point, singular rights don't, on each situation fill in as a methods for seeking after the benefit of everyone. Singular rights are assumed in quest for the benefit of all. The benefit of everyone is the benefit of society overall and every one of it segments, that is; of all people who make up that society (Purdy, 64). Accordingly, singular rights upgrade the benefit of all to the degree that every individual in that network is a holder of those rights. Also, it they elevate the benefit of everyone to the degree that their activity upgrades social congruity and equalization (Maachem, 300). The supremacy of the benefit of all over private products implies the significance of aggregate rights if and just if due insurance is given to singular rights (Paine, 46). Works Cited Fitzgerald, Scott. The Great Gatsby. New ork: Wiley Sons, 2008. Maachem, Jan. American Gospel. New York: Wiley Sons, 2007) Morrison, Tony. Dearest. New York: Signet, 1987. Paine, Thomas. The Age of Reason. Cambridge: Cambridge University Press, 2006. Purdy, T. A bearable Anarchy. New York: Routledge, 2009. Purdy, T. The Universal Nation. New York: Routledge, 2007. This paper on Individual Rights versus Common Good was composed and put together by client Adam Lott to help you with your own investigations. You are allowed to utilize it for research and reference purposes so as to compose your own paper; in any case, you should refer to it in like manner. You can give your paper here.

Family Recipe Essay

At the point when I was more youthful, I strolled into my grandmother’s house each Thursday late evening smelling the newly prepared natively constructed lasagna she constantly made. The formula she would follow has been passed down from numerous ages in our family. It is one of my preferred dinners to make, and it tends to be done in around an hour and thirty minutes. The way to making my family’s custom made lasagna can be summarized in three straightforward advances: choosing top-quality fixings, setting them up, and preparing the lasagna accurately. The initial phase in cooking my family’s hand crafted lasagna is to choose top-quality fixings. There are various prerequisites for this dish, and getting the modest brand of any of the fixings doesn't take into consideration the maximum capacity of the feast. You have to have one 16 oz. bundle of Barilla lasagna noodles, two pounds of the store’s new ground hamburger, one 24 oz. container of Prego Traditional tomato sauce, a large portion of a teaspoon of salt, two 16 oz. sacks of Kraft mozzarella cheddar, and one 16 oz. cup of Sargento ricotta cheddar. In the wake of buying these fixings, the ground hamburger, mozzarella cheddar, and ricotta cheddar should be set in the fridge until utilization. The subsequent advance in cooking my family’s custom made lasagna is to set it up. Lasagna has various fixings that must be cooked and combined at discrete occasions. In the first place, you have to preheat the stove to 375 degrees Fahrenheit or 190 degrees Celsius. Bubble two and one half quarts of water in a 5 quart pot of daintily salted water on medium high, include the noodles and cook them for roughly eight to ten minutes or until delicate. Channel the noodles and put them to the side. Next, put the two pounds of hamburger in a skillet and cook on medium high warmth until the entirety of the meat is uniformly earthy colored. When the hamburger is completely cooked, channel the oil and flush the meat with warm high temp water. After you have depleted and washed the meat, set it back into skillet and include one 24 oz. jar of Prego Traditional tomato sauce. Mix until the meat and sauce are blended uniformly, keeping the temperature on low or stew. When you have cooked the lasagna noodles, hamburger, and blended the tomato sauce and meat, you should join the entirety of the fixings to heat it appropriately. For this procedure, you should utilize a three quart rectangular container. To start with, place four lasagna noodles one next to the other down in the dish. Second, you have to include half of the meat and sauce to that layer and spread it equally over the dish. Third, utilize a spoon and spread a far layer of ricotta cheddar over the meat and sauce. When that is done, the fourth thing you do is include a moiety of the destroyed mozzarella cheddar to completely cover the layer until you don't see anything underneath. After those means are done, you should rehash this progression utilizing the remainder of the fixings. The third step in cooking my family’s natively constructed lasagna is to prepare it the right way. The stove needs to have been preheating on 375 degrees Fahrenheit while you are setting up the dish. When you have the skillet prepared to place in the broiler, take a major bit of aluminum foil and spread the top. Spot in broiler for twenty five to thirty minutes relying upon the cheddar. At the point when the cheddar melts and turns somewhat earthy colored, remove the skillet from the broiler and evacuate the aluminum foil. Spot the skillet over into broiler for five to eight minutes. After the average five to eight minutes is up, evacuate the container and let it represent ten minutes before cutting. At the point when the ten minutes is up, you can slice and serve up to ten individuals with this dish. At the point when you wrap up the bits that you if it's not too much trouble make certain to cover the dish up with aluminum foil and spot it in the cooler. Setting up my family’s custom made lasagna formula is definitely not a troublesome errand, however it is very tedious. Numerous individuals attempt to surge and toss everything together to have a dinner in a convenient way, however the way to progress is tolerance. You should have the tolerance to cook and set up the dish before preparing it. The way to making my family formula is to choose top-quality fixings, set them up, and prepare them effectively. By following these bearings, your custom made lasagna feast will be an incredible accomplishment for you and whomever. (760).

School district reports test scores rise with mastery learning on Khan Academy

School district reports test scores rise with mastery learning on Khan Academy We’re happy to share new research results for mastery learning on Khan Academy and a new video that shows how mastery learning works.The Centennial School District in Warminster, Pennsylvania, reports that middle school students who spent at least 30 minutes per week doing mastery learning on Khan Academy had 33% higher growth on the NWEA MAP mathematics assessment than students who used Khan Academy for less than 15 minutes per week. Elementary school students had 19% higher growth.Kudos to the kids at Centennial for all their hard work!Mastery learning is an educational philosophy centered on self-paced learning. Unlike traditional learning, students in mastery-learning classrooms are not pushed ahead in lockstep, which can cause the accumulation of debilitating “Swiss-cheese” gaps in knowledge.In mastery learning, students learn at their own pace. They progress through questions and quizzes at just the right level for them. They get feedback as they learn and help when they need it most. Teachers track student progress, identify gaps, and give students one-on-one attention to help them succeed. Mastery learning is backed by decades of research. The noted researcher Benjamin Bloom first coined the term mastery learning in 1968 and published a seminal 1984 study that documented its promise. A 1994 analysis of nearly 300 studies on mastery learning found that mastery learning has a “positive effect on achievement at all levels and for all subjects and results in positive affective outcomes for students and teachers.”Mastery lessons on Khan Academy are available for Kâ€"12 math, grammar, high school biology, AP Calculus AB, AP Calculus BC, AP Physics 1, AP Statistics, AP Government and Politics, and AP Macroeconomics.We’ll add new subjects with mastery throughout the school year. Onward!

Film Review-Hunger Games - 3033 Words

The Hunger Games Review and Critique The Hunger Games is a fantasy adventure love story about a young girl from a poor district who volunteers to take her sister place to fight to the death in the 74th Annual Hunger Games in the country’s capitol city. â€Å"Every year in the ruins of what was once North America, the evil Capitol of the nation of Panem forces each of its twelve districts to send a teenage boy and girl to compete in the Hunger Games. A twisted punishment for a past uprising and an ongoing government intimidation tactic, The Hunger Games are a nationally televised event in which Tributes must fight with one another until one survivor remains.† (www.thehungergamesmovie.com) Prior to being a film, The Hunger Games was an†¦show more content†¦While he was in this alliance he convinced the members that he is on their side although he is purposely deceiving them and trying to protect her. The film also shows satire when Katniss mocks the organizers of the games by sarcastically repeat ing the infamous Hunger Games slogan. Again satire can be seen when Katniss and Peeta’s love during the games forces a shift in the rules of the games and allowed two winners versus one. When the new rules of the games got reversed, Katniss and Peeta decide to eat poisonous berries and kill themselves. They wanted to show that they were in control of their own lives even in their current situation. This affected the social and political change by changing the expectations of the game makers and citizens in the capital city. Academy Award nominee Jennifer Lawrence plays Katniss. She has established herself as one of Hollywoods most promising young actresses. She has also had roles in other films such as â€Å"Like Crazy†, â€Å"Silver Lining’s Palybook†, and â€Å"House at The End of the Street.† Her role in The Hunger Games made her extremely popular with the movie going public especially young girls and earned her the title ‘star actorâ€⠄¢. â€Å"A star is a distinctive screen persona, who is well–known and popular with the movie going public, often to the point that some avid movie fans become deeply curious about the actor’s privateShow MoreRelatedThe Hunger Games : Movie Review Essay984 Words   |  4 PagesThe Hunger Games 2012 movie Review The 2012 American science fiction film directed by Gary Ross is noted to be one of the most exciting motion pictures of its time. It became the first of a series of other films under the same name based on the fictional novels by Suzanne Collins, similarly using the same title. The film story is seen to take place in community where ferocity and atrocious behaviors are the only means by which members know. The hunger games movie is a thrilling, moving, intensely-feltRead MoreSociology of Hunger Games1719 Words   |  7 Pagesï » ¿ Sociology of â€Å"Hunger Games† By. Tom ************ Soc 101 11/17/13 Introduction The nation of Panem has risen out of the ravaged ruins of what was once known as North America. 74 years ago, the poverty-stricken districts of Panem rebelled against the wealthy, controlling the Capitol. After its crushing victory, the Capitol devised the Hunger Games as an annual reminder to the twelve districts of its authority, and as continuing punishment for the rebellionRead MoreAnalyzing the Hunger Games Essay1829 Words   |  8 Pagescontrolled by the powerful. 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The annual Hunger Games consist of twenty-four children ages twelve to eighteen, two from each of the twelve districts, who have to fight to the death. These Games occur in an arena which the game makers of the Capitol control with technology. The game makers design the arena to entertain the masses as wellRead MoreThe Inacurate Representation of the Cyclops Essay examples1421 Words   |  6 Pageslife in the middle of the forest or in the mountains; they possess no social manner or fear of gods. They work for Hephaestus in the heart of volcanic mountain Aetna. Society perceives Cyclopes as monsters because of the way they are portrayed in films and books. Hollywood depicts Cyclopes to be giant beasts incapable of love and emotion or have any social etiquette. Their only role in civilization is to be savages. In today’s media, every monster has evolved into a loveable character. Count Dracula

The Dominance Of Online Shopping - 1284 Words

The predominance of online shopping is becoming a fact beyond dispute. Many people agree that online shopping can be quick, handy and convenient. Tenacious shoppers find aggressive discounts online as many vendors compete to offer the best retail price and quality. According to McKeown and Brocca (2009), 13.4 million purchase transactions were made online in Canada in 2001.The enormous growth of technology and its hefty impact on online shopping have had a direct impact on the rapid popularity of e-commerce. Statistics show that 8.4 million Canadians at the age of 16 years and up made 70 million online orders in 2007 (p.8). Most of these transactions were implemented using popular shopping websites like eBay, Amazon, or Expedia, for instance. However, this unprecedented increase of online shopping has spawned an ongoing escalation of technological risks like scamming, hacking, cybercrimes, and fraud which put shoppers’ privacy in jeopardy. Consequently, the personal data that online customers impetuously disclose are closely monitored and sometimes misused by marketers or other data gathering agencies. Consumers’ awareness of the susceptibility of personal information security measures is alarmingly low. Privacy intruders can easily come up with tricks to track customers online shopping and internet surfing habits and build extensive personal profiles by simply observing the Internet Protocol (IP) address of their computers, and often through digital ‘cookies’ orShow MoreRelated A Comparison of Online Shopping at JCPenney and Kohls Essay589 Words   |  3 PagesJCPenney Dominates Over Kohl’s in Online Shopping Being a multi-billion dollar retailer comes with its perks. JCPenney’s dominance over catalog merchandising has now extended into the cyber world at www.jcpenney.com. This website is multi-functional and easy to navigate, but how would JCPenney’s new e-commerce site stack up against its toughest competitor, Kohl’s, on the web? The answer may surprise you. This is an intriguing look at how varied retail comparisons can be. While JCPenney is strugglingRead MoreAmazon Strategy Case Study1571 Words   |  7 PagesFor nonprofits, the strategy allows it to grow the donor database to those interests in shopping at the site, and also feel good about contributing to a more substantial cause. 4. 17% of primary household shoppers did not make an Amazon purchase in 2016. The top five reasons were: a) They have experienced a specific problem with shopping on Amazon. The best way to handle specific problems related to shopping on the site is to improve the platform navigation. 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Safety and Health Free Essays

|Title |HSC 027 Contribute to health and safety in health and social care | |Level |2 | |Credit value |4 | |Learning outcomes |Assessment criteria | |The learner will: |The learner can: | |1. Understand own responsibilities, and the |1. 1 Identify legislation relating to general health and safety in a health or social | |responsibilities of others, relating to health and |care work setting | |safety in the work setting |1. We will write a custom essay sample on Safety and Health or any similar topic only for you Order Now 2 Describe the main points of the health and safety policies and procedures agreed | | |with the employer | | |1. Outline the main health and safety responsibilities of: | | |self | | |the employer or manager | | |others in the work setting | | |1. 4 Identify tasks relating to health and safety that should not be carried out | | |without special training | | |1. Explain how to access additional support and information relating to health and | | |safety | |2. Understand the use of risk assessments in |2. 1 Explain why it is important to assess health and safety hazards posed by the work | |relation to health and safety |setting or by particular activities | | |2. 2 Explain how and when to report potential health and safety risks that have been | | |identified | | |2. Explain how risk assessment can help address | | |dilemmas between rights and health and safety | | |concerns | |3. Understand procedures for responding to |3. 1 Describe different types of accidents a nd | |accidents and sudden illness |sudden illness that may occur in own work setting | | |3. 2 Outline the procedures to be followed if an | | |accident or sudden illness should occur | |4. Be able to reduce the spread of infection |Demonstrate the recommended method for hand washing | | |Demonstrate ways to ensure that own health and hygiene do not pose a risk to others at| | |work | |5. Be able to move and handle equipment and other|Identify legislation that relates to moving and handling | |objects safely |Explain principles for moving and handling equipment and other objects safely | | |Move and handle equipment or other objects safely | |6. Know how to handle hazardous substances and |Identify hazardous substances and materials that may be found in the work setting | |materials |Describe safe practices for: | | |Storing hazardous substances | | |Using hazardous substances | | |Disposing of hazardous substances and | | |materials | |7. Understand how to promote fire safety in the |Describe practices that prevent fires from: | |work setting |starting | | |spreading | | |Outline emergency procedures to be followed in the event of a fire in the work setting| | |Explain the importance of maintaining clear evacuation routes at all times | |8. Be able to implement security measures in the |Use agreed ways of working for checking the identity of anyone requesting access to: | |work setting |Premises | | |Information | | |8. Implement measures to protect own security and the security of others in the | | |work setting | | |8. 3 Explain the importance of ensuring that others are aware of own whereabouts | |9. Know how to manage own stress |Identify common signs and indicators of stress | | |Identify circumstances that tend to trigger own stress | | |Describe ways to manage own stress | Additional information about the unit | |NOS ref |HSC 22 HSC 221 HSC 223 | | |Content recurs throughout HSC NOS knowledge requi rements | |Unit purpose and aims |This unit is aimed at those working in a wide range of settings. It provides the learner | | |with the knowledge and skills required to carry out their work safely. | |Assessment requirements or guidance |This unit must be assessed in accordance with Skills for Care and Development QCF | | |Assessment Principles. | | | | |LO 4, 5, and 8 must be assessed in a real work environment | |Additional Information |Others may include: | | |Team members | | |Other colleagues | | |Those who use or commission their own health or social care services | | |Families, carers and advocates | | | | | |Work setting may include one specific location or a range of locations, depending on the | | |context of a particular work role | | | | | |Policies and procedures may include other agreed ways of working as well as formal | | |policies and procedures | | | | |Tasks that the learner should not carry out without special training may include those | | |relating to: | | |Use of equipment | | |First aid | | |Medication | | |Health care procedures | | |Food handling and preparation | | | | | |Stress can have positive as well as negative effects, but in this unit the word is used | | |to refer to negative stress | How to cite Safety and Health, Papers

Shareholder and Stakeholder Approaches free essay sample

In this report, purposes of corporations are investigated under two different approaches on corporate value maximization: Shareholder Approach and Stakeholder Approach. So, firstly both approaches are defined briefly. Secondly, compare and contrast of shareholder and stakeholder approaches is made. Keywords: Purpose, Corporation, Value Maximization, Shareholder Approach, Stakeholder Approach. Shareholder Approach on Value Maximization. Shareholder approach on value maximization focuses the corporation’s purpose on maximizing the wealth of owners by maximizing the profit while minimizing the importance of the other roles of corporation in the society. The origins of the ideas shaping shareholder theory are more than 200 years old, with roots in Adam Smith’s (1776) The Wealth of Nations. Smith’s three ideas are followed by modern supporters of shareholder approach, 1. The importance of ‘free’ markets; The ‘invisible hand of self-regulation’ and 3. The importance of ‘enlightened self-interest’ Shareholder approach supporters defend the idea that excessive oversight and regulation of industry is unnecessary. We will write a custom essay sample on Shareholder and Stakeholder Approaches or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Members of the ‘Austrian School’ of economics were early supporters of the shareholder approach. They advocated the idea of ‘leave alone’ capitalism, which focuses on the importance of self-regulation among firms, with limited government intervention. Shareholder theory in its current form is linked most directly to the ‘Chicago School’ of economics, most notably to Milton Friedman and his colleagues, who have argued for nearly four decades that the overriding purpose of the firm is to maximize shareholder wealth. They believe solving social problems is the responsibility of the state. Friedman believed, in short, that the business of business is business. When firms become involved in social or public policy issues, wealth is diverted to issues outside the core expertise of their managers. This inefficient use of wealth will affect society in the long run. Friedman never argued that firms can act unethically, immorally, or illegally. Today, two influential schools of thought of shareholder approach are ‘transaction cost economics’ (TCE) and ‘agency theory’. TCE focuses on the importance of corporate hierarchies and monitoring employee behavior to minimize self-interested behavior. TCE focuses primarily on the principal vs. Agent (shareowner vs. Manager) relationship in publicly traded firms, and how to best align the competing interests of two parties to maximize firm value. Both TCE and agency theory assume that human beings are opportunistic, and, thus, will put their own interests before the firm’s. Stakeholder Approach on Value Maximization: The idea that a company should have an expanded role and responsibilities to other stakeholders besides its owners is much newer than shareholders theory. Both shareholder and stakeholder approaches are concerned with the purpose of the firm and strategies to improve its competitive position. Stakeholder approach does not view maximization of shareholder wealth as the most efficient way to generate competitive advantage for the firm. Approach holds that firms can best generate competitive advantage and wealth by taking more than just shareholders into account. In the late 1970s and early 1980s, researchers with backgrounds in philosophy, psychology, sociology, and management began putting foth a new theory of the firm that challenged some of the basic assumptions of classic economics and shareholder approach. In particular, Archie Carroll and Ed Freeman theorized that by taking the interests of all the firm’s stakeholders into account, the firm could do ‘better’ than by simply focusing on shareholder interests. Carroll noted that corporations have four major responsibilities: economic (to generate shareholder wealth), legal (to obey laws and regulations), ethical (to recognize that the firm is part of community, and thushas obligations to, and an impact on, others), and discretionary (to engage in philanthropy). Both Carroll and Freeman believe that if a firm creates value for its stake holders, it will create value for its shareholders, as well. Thus, unlike the assumptions of classical economics and shareholder theory (that a firm can only maximize value on one dimension), stakeholder theorists believe that taking all constituent groups into account is the better way to maximize oveerall firm performance. The stakeholder theorists smell blood. Scandals at Enron, Global Crossing, ImClone, Tyco International and WorldCom, concerns about the independence of accountants who are charged with auditing financial statements, and questions about the incentive schema and investor recommendations at Credit Suisse First Boston and Merrill Lynch have all provided rich fodder for those who question the premise of shareholder supremacy. Many observers have claimed that these scandals serve as evidence of the failure of the shareholder theory — that managers primarily have a duty to maximize shareholder returns — and the victory of stakeholder theory, which says that a manager’s duty is to balance the shareholders’ financial interests against the interests of other stakeholders such as employees, customers and the local community, even if it reduces shareholder returns. Before attempting to declare a victor, however, it is helpful to consider what the two theories actually say and what they do not say. Comparison of ShareholderApproach and Stakeholder Approach on Value Maximization: Both the shareholder and stakeholder theories are normative theories of corporate social responsibility, dictating what a corporation’s role ought to be. By extension, they can also be seen as normative theories of business ethics, since executives and managers of a corporation should make decisions according to the â€Å"right† theory. Unfortunately, the two theories are very much at odds regarding what is â€Å"right. † Shareholder theory asserts that shareholders advance capital to a company’s managers, who are supposed to spend corporate funds only in ways that have been authorized by the shareholders. As Milton Friedman wrote, â€Å"There is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it and engages in open and free competition, without deception or fraud. † On the other hand, stakeholder theory asserts that managers have a duty to both the corporation’s shareholders and â€Å"individuals and constituencies that contribute, either voluntarily or involuntarily, to [a company’s] wealth-creating capacity and activities, and who are therefore its potential beneficiaries and/or risk bearers. † Although there is some debate regarding which stakeholders deserve consideration, a widely accepted interpretation refers to shareholders, customers, employees, suppliers and the local community. According to the stakeholder theory, managers are agents of all stakeholders and have two responsibilities: to ensure that the ethical rights of no stakeholder are violated and to balance the legitimate interests of the stakeholders when making decisions. The objective is to balance profit maximization with the long-term ability of the corporation to remain a going concern. The fundamental distinction is that the stakeholder theory demands that interests of all stakeholders be considered even if it reduces company profitability. In other words, under the shareholder theory, nonshareholders can be viewed as â€Å"means† to the â€Å"ends† of profitability; under the stakeholder theory, the interests of many nonshareholders are also viewed as â€Å"ends. † Unfortunately, shareholder theory is often misrepresented in several ways. First, it is sometimes misstated as urging managers to â€Å"do anything you can to make a profit,† even though the shareholder theory obligates managers to increase profits only through legal, nondeceptive means. Second, some criticize the shareholder theory as geared toward short-term profit maximization at the expense of the long run. However, more thoughtful shareholder theorists often refer to a need for â€Å"enlightened self-interest,† which — if embraced — would lead a corporation’s managers to take a long-term orientation. Third, it is sometimes claimed that the shareholder theory prohibits giving corporate funds to things such as charitable projects or investing in improved employee morale. In fact, however, the shareholder theory supports those efforts — insofar as those initiatives are, in the end, the best investments of capital that are available. Similarly, the stakeholder theory is sometimes misunderstood. It is sometimes claimed that the stakeholder theory does not demand that a company focus on profitability. Even though the stakeholder theory’s ultimate objective is the concern’s continued existence, it must be achieved by balancing the interests of all stakeholders, including the shareholders, whose interests are usually addressed through profits. Also, because many stakeholder theory descriptions provide no formula for adjudicating among the stakeholders’ disparate interests, some have claimed that the theory cannot be implemented. While it is true that some versions of the theory provide no guidance in this regard, many stakeholder theorists have provided algorithms for trade-offs among stakeholders’ interests. For example, one might assess the level of risk that each stakeholder has embraced and rank their interests accordingly, or one might simply assert that one stakeholder group’s interests should always prevail, as Richard Ellsworth has recently argued.