Business Ethics, the Stakeholder Perspective and Circular Business Models

This chapter outlines the evolution of Corporate Social ResponsibilityCorporate Social Responsibility (CSR) and the stakeholder perspective as a response to the limitations of traditional linear business models. It highlights the emergence of the stakeholder model in the late 1980s, emphasizing the need to consider the interests of a broader spectrum of stakeholders beyond the primary groups. The chapter underlines the growing recognition of external influences and their impact on a company’s sustainability. It also addresses the transformation of business focus from solely serving owners and the market to considering sustainable outcomes and societal impacts. Additionally, it discusses the influence of landmark actions against specific industries, prompting a more holistic approach to business, considering its long-term societal and environmental effects.