Stakeholder Approach
A management philosophy that argues businesses should be run for the benefit of all stakeholders — employees, customers,...
Real World
John Lewis Partnership is legally structured to serve employees (partners), customers, and the community, not external shareholders — a textbook stakeholder approach that consistently ranks among the UK's most trusted retailers.
Exam Focus
For 'evaluate' questions, weigh the long-run reputational benefits of stakeholder approach against the short-run cost of slower, more complex decision-making.
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