The Aristotelian Commutative Justice and The Management of the Firm’s Stakeholder Relations

Roberta Troisi () and Luigi Enrico Golzio
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Roberta Troisi: University of Salerno
Luigi Enrico Golzio: University of Modena and Reggio Emilia

Chapter Chapter 19 in Philosophy and Business Ethics, 2022, pp 487-512 from Springer

Abstract: Abstract Over the last 30 years, stakeholder theory has emerged as a new framework to replace the economic model of the firm’s behaviour. However, some central aspects still remain undetermined. Focusing on the normative approach, one of the main criticisms concerns its overall prescriptive indeterminacy in being unable to establish any criteria for the distribution of the benefits. Furthermore, the rules of conduct that can operationally define the management of the relationship with stakeholders remain somewhat unexplored. We propose analyzing the role of the organizations in distributing the stakeholders’ benefits within an exchange dynamic. We draw up a relational explanation that underpins the stakeholders’ benefits in the Aristotelian notion of an “exchange as an ethical action”. Along this line, we emphasize the rationale of commutative justice rather than the more widely used distributive justice. A greater understanding of a fair exchange according to commutative justice leads to: (i) a distribution of the benefits that is more consistent with the mutual power relations between organization and stakeholders; (ii) focusing on work relations—a theoretical coherence with the tenets of organizational justice. Further theoretical and practical implications on the stakeholders’ management are then discussed.

Keywords: Stakeholder theory; Fair exchange; Commutative justice; Organizational justice (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-97106-9_19

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DOI: 10.1007/978-3-030-97106-9_19

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