Read the Insuring Uber’s App-On Gap case study in your textbook on page 23 (attached). Then, answer the following two questions: 

Which of the stakeholders mentioned do you think has the most salience, and why?
What do you think Uber should do in response to the bill introduced by Susan Bonilla, and why?

Need 2 pages about with peer-reviewed citations.2

law43665_ch01_001-024.indd 2 11/14/18 11:33 AM

C H A P T E R O N E

The Corporation
and Its Stakeholders
Business corporations have complex relationships with many individuals and organizations in society.
The term stakeholder refers to all those that affect, or are affected by, the actions of the firm. An
important part of management’s role is to identify a firm’s relevant stakeholders and understand the
nature of their interests, power, and alliances with one another. Building positive and mutually ben-
eficial relationships across organizational boundaries can help enhance a company’s reputation and
address critical social and ethical challenges. In a world of fast-paced globalization, shifting public
expectations and government policies, growing ecological concerns, and new technologies, manag-
ers face the difficult challenge of achieving economic results while simultaneously creating value for
all of their diverse stakeholders.

This Chapter Focuses on These Key Learning Objectives:

LO 1-1 Understanding the relationship between business and society and the ways in which business and
society are part of an interactive system.

LO 1-2 Considering the purpose of the modern corporation.

LO 1-3 Knowing what a stakeholder is and who a corporation’s market and nonmarket and internal and
external stakeholders are.

LO 1-4 Conducting a stakeholder analysis and understanding the basis of stakeholder interests and power.

LO 1-5 Recognizing the diverse ways in which modern corporations organize internally to interact with
various stakeholders.

LO 1-6 Analyzing the forces of change that continually reshape the business and society relationship.

Final PDF to printer

Chapter 1 The Corporation and Its Stakeholders 3

law43665_ch01_001-024.indd 3 11/14/18 11:33 AM

Amazon—which some have called the “Earth’s biggest store”—is an important part of
many of our lives. We browse on Amazon, watch on Amazon, and buy on Amazon. We
freely disclose to Amazon our wishes, interests, and willingness to pay. You may well have
purchased or rented this textbook from Amazon.

In 2018, Amazon was the largest Internet retailer in the world, measured both by annual
revenue ($178 billion) and market capitalization (more than $800 billion). It was the
second largest private employer in the United States (after Walmart), with more than
540,000 employees (not counting the additional 120,000 or so temporary workers the com-
pany brought on each year during the busy holiday season).1 From its start in 1994 as a
scrappy Seattle start-up selling books online, Amazon had grown at an astonishing pace; in
2017, Amazon was responsible for fully 70 percent of all growth in U.S. online commerce.2
By 2018, the company’s founder and CEO, Jeff Bezos, had become the world’s richest
person, with a net worth greater than $100 billion.3 Shareholders in the company had been
richly rewarded; in early 2018, the price of Amazon’s stock was more than 12 times




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