The Stakeholder Theory: The Case Of Wells Fargo

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Stakeholder theory is defined as “a conceptual framework of business ethics and organizational management which addresses moral and ethical values in the management of a business or other organization.” (Stakeholder theory, 2017) This framework has been interpreted several different ways and has been blamed to cause some unethical behavior thinking that the shareholder theory specifics that the manager's duty is to maximize the shareholder returns regardless of the means. However, those who misunderstand the meaning behind stakeholder theory, do not consider that the stakeholder theory should take all direct and indirect stakeholders into account. “The fundamental distinction is that the stakeholder theory demands that interests of all stakeholders be considered even if it reduces company profitability. …show more content…
Wells Fargo had a code of conduct that was against this kind of unethical behavior; however, management and the company culture did not follow the code of
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