The definition of stakeholder is “ Any group or individual who can affect or is affected by the achievement of the organizations objectives.” (Freeman, 1984). Three stakeholders that have been identified are old employees (50s-60s), young employees, and shareholders. These three stakeholders could be affected the most by the CEO’s decision.
Firstly, old employees who work for the company for many years should have larger proportion of the company’s employee wage than young employees. For the first option, this option will cause biggest impact for old employees as they already have high monthly salary, however they will have to reduce their wages to be hourly salary and might not be called for work. Furthermore, if old employees want to find new job, these people will have minimal chances to find a new job due to their age. Second option, this option have less impact than first option as their job will steady, but the reduction of wage will affect their quality of life similar to the first option. Third option will benefit for them. They will maintain their job and salary, also “natural wastage” is employee’s choice not by the company, therefore this will not affect the old employees.
Secondly, young employee, especially students will be affected by the decision less than old employees because their revenue is low as they have been worked for several years. First option will cause a financial problem for these young employees, but not as much as old employees due to low salary; on the other hand, part time job would be better choice for students because they will have more time to concentrate for their education. Second choice will have small impact for them in short term in financial aspect since they start ...
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...uffered from low budget in advertising and investing. These problems might lead to company’s losses in the future that might create heavier problems. For example, the company may experience financial problem that could lead to closing some of their pubs, which company also needs to lay off their employees. To laying off employees would consider to be unethical action.
In the trouble time, both shareholders and employees should helping each others to weather the storm. In this case, I think it is the time that employees should give the help back to the company. I believe that if the company perform better in the future, the company will reward back to the employees in the forms of yearly bonus or other benefits.
Ellis, E. 2014. Introduction to Business Ethics and CSR. LUBS5229M Management in Practice. 17 November, University of Leeds.
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