Clarkson Principles

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Summary

The Clarkson Principles originate from four conferences that were hosted by the Centre for Corporate Social Performance and Ethics in the Faculty of Management [now: the Clarkson Centre for Business Ethics & Board Effectiveness or CC(BE)] between 1993 and 1998. 


In these conferences, management students gathered to share ideas on stakeholder theory, a then emerging field of study examining the relationships and responsibilities of a corporation to employees, customers, suppliers, society, and the environment.


The Clarkson Principles of Stakeholder Management represent an early stage general awareness of corporate governance concerns that have been widely discussed in connection with the business scandals of 2001-2003.


Principle 1

Managers should acknowledge and actively monitor the concerns of all legitimate stakeholders, and should take their interests appropriately into account in decision-making and operations.

Principle 2

Managers should listen to and openly communicate with stakeholders about their respective concerns and contributions, and about the risks that they assume because of their involvement with the corporation.

Principle 3

Managers should adopt processes and modes of behavior that are sensitive to the concerns and capabilities of each stakeholder constituency.

Principle 4

Managers should recognize the interdependence of efforts and rewards among stakeholders, and should attempt to achieve a fair distribution of the benefits and burdens of corporate activity among them, taking into account their respective risks and vulnerabilities.

Principle 5

Managers should work cooperatively with other entities, both public and private, to insure that risks and harms arising from corporate activities are minimized and, where they cannot be avoided, appropriately compensated.

Principle 6

Managers should avoid altogether activities that might jeopardize inalienable human rights (e.g., the right to life) or give rise to risks which, if clearly understood, would be patently unacceptable to relevant stakeholders.

Principle 7

Managers should acknowledge the potential conflicts between (a) their own role as corporate stakeholders, and (b) their legal and moral responsibilities for the interests of stakeholders, and should address such conflicts through open communication, appropriate reporting and incentive systems and, where necessary, third party review.


The Clarkson Principles should be regarded as "meta-principles", encouraging and requiring management to develop more specific stakeholder principles and then to implement those in accordance with the Principles.


Book: Jeffrey L. Seglin - The Right Thing

Book: Joseph W. Weiss - Business Ethics

Book: O. C. Ferrell - Business Ethics


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Who are your Stakeholders?

Clustering Stakeholders
Ian Mitroff, Emeritus Professor from the University of Southern California, identified seven categories of stakeholder p (...)

The Skills Needed to Spot Ethical Issues

Preventing Ethical Failures, Identifying Ethical Issues, Business Ethics
Bazerman provides some useful advice on both the challenges in noticing (potential) ethical issues and ways of overcomin (...)

The Maturity Stages of Corporate Responsibility

Organizational Development, Corporate Responsibility Maturity
Simon Zadek provides a useful best practice five-stage maturity model of how organizations deal with Corporate Responsib (...)

Spotting and Countering Ethical Issues

Ethical Leadership, Moral Leadership, Virtuous Leadership
Having the skills to spot and counter ethical issues is something in 'continual usage', especially in a world where 'rad (...)
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The Purpose of Business: Stockholder versus Stakeholder Theories

Stakeholder Analysis; Stakeholder Commitment
This presentation elaborates on the objectives and purposes of businesses according to different views: those of stockho (...)

Fundamentals of Business Ethics

Business Ethics, Corporate Ethics, Ethical Behavior, Corporate Responsibility, Stakeholder Management
Presentation about business ethics, including an explanation of its relation with economics and the law. It also include (...)

Issues in Improving Ethics in Multinational Corporations

Corporate Ethics, Business Ethics, Global Ethics, International Ethics, Corporate Social Responsibility
This presentation outlines ethical issues arising in global businesses, and the ways to improve those ethics in multinat (...)

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Compare with: Ashridge Mission Model  |  Stakeholder Analysis  |  Stakeholder Mapping  |  Intrinsic Stakeholder Commitment  |  Strategic Stakeholder Management  |  Seven Signs Of Ethical Collapse  |  Strategic Intent  |  Moral Purpose


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