Nike's use of "sweatshop labor" in Southeast Asia led to a wave of protests against the company in the United States. Not only did this hurt Nike's reputation, but it also adversely affected demand for the company's products. Today the company is a leader in incorporating ethical issues into its strategic decision making.

(i) Define stakeholder and state clearly the importance of taking stakeholders into account and how to evaluate the same stakeholders' claims.

(ii) Define "Business ethics", " Ethical dilemmas" and list down and elaborate on the seven factors which a business and its managers must take into consideration to make sure that ethical issues are being followed whilst making business decisions.

(iii) Define and state with examples the term "Corporate Social Responsibility" and describe what is meant by the "Friedman Doctrine"