Stakeholder Approach
A management philosophy that argues businesses should be run for the benefit of all stakeholders — employees, customers,...
Real World
Patagonia has embedded the stakeholder approach into its mission — capping executive pay, donating 1% of sales to environmental causes, and offering on-site childcare — while remaining a profitable business.
Exam Focus
In 'evaluate' questions, weigh long-run reputational and sustainability benefits against the short-run cost and decision-making complexity.
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