Question: Because businesses use utilitarian principles when conducting a stakeholder analysis, you, as a decision maker, should:
1. Define how costs and benefits will be measured in selecting one course of action over another-including social, economic, and monetary costs and benefits as well as long-term and short-term costs and benefits. On what principle, if any, would you use to base your utilitarian analysis?
2. Define what information you will need to determine the costs and benefits for comparisons.
3. Identify the procedures and policies you will use to explain and justify your cost-benefit analysis.
4. State your assumptions when defining and justifying your analysis and conclusions.
5. Ask yourself what moral obligations you have toward each of your stakeholders after the costs and benefits have been estimated.