Social contract theory in the context of "Stakeholder theory"

⭐ In the context of stakeholder theory, social contract theory is considered…

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⭐ Core Definition: Social contract theory

In moral and political philosophy, the social contract is an idea, theory, or model that usually, although not always, concerns the legitimacy of the authority of the state over the individual. Conceptualized in the Age of Enlightenment, it is a core concept of constitutionalism, while not necessarily convened and written down in a constituent assembly and constitution.

Social contract arguments typically are that individuals have consented, either explicitly or tacitly, to surrender some of their freedoms and submit to the authority (of the ruler, or to the decision of a majority) in exchange for protection of their remaining rights or maintenance of the social order. The relation between natural and legal rights is often a topic of social contract theory. The term takes its name from The Social Contract (French: Du contrat social ou Principes du droit politique), a 1762 book by Jean-Jacques Rousseau that discussed this concept. Although the antecedents of social contract theory are found in antiquity, in Greek and Stoic philosophy and Roman and Canon Law, the heyday of the social contract was the mid-17th to early 19th centuries, when it emerged as the leading doctrine of political legitimacy.

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👉 Social contract theory in the context of Stakeholder theory

The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory.

The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level. One common version of stakeholder theory seeks to define the specific stakeholders of a company (the normative theory of stakeholder identification) and then examine the conditions under which managers treat these parties as stakeholders (the descriptive theory of stakeholder salience).

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Social contract theory in the context of Crito

Crito (/ˈkrt/ KRY-toh or /ˈkrt/ KREE-toh; Ancient Greek: Κρίτων [krítɔːn]) is a dialogue written by the ancient Greek philosopher Plato. It depicts a conversation between Socrates and his wealthy friend Crito of Alopece regarding justice (δικαιοσύνη), injustice (ἀδικία), and the appropriate response to injustice. It follows Socrates' imprisonment, just after the events of the Apology.

In Crito, Socrates believes injustice may not be answered with injustice, personifies the Laws of Athens to prove this, and refuses Crito's offer to finance his escape from prison. The dialogue contains an ancient statement of the social contract theory of government. In contemporary discussions, the meaning of Crito is debated to determine whether it is a plea for unconditional obedience to the laws of a society. The text is one of the few Platonic dialogues that appear to be unaffected by Plato's opinions on the matter; it is dated to have been written around the same time as the Apology.

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