1. Chapter 3 The Stakeholder Approach to Business, Society, and Ethics
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2. © 2012 South-Western, a part of Cengage Learning
Stakeholders
Stakeholder
Any individual or group who can affect or is affected by the actions, decisions, policies, practices, or goals of the organization.
Stakeholder is a variant of the concept of stockholder– an investor/owner of businesses.
© 2012 South-Western, a part of Cengage Learning

3. Who are Business Stakeholders?
Business Stakeholder Groups
Media
Suppliers
Special-Interest Groups
Society
General Public
Competitors
Customers
Community
Stockholders
Employees 3
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4. Production and Managerial Views of the Firm
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5. Stakeholder View of the Firm
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6. Who are Business Stakeholders?
Primary stakeholders
Have a direct stake in the organization and its success.
Secondary stakeholders
Have a public or special interest stake in the organization that is more indirect.
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Social Stakeholders
Primary social stakeholders
Secondary social stakeholders
Shareholders and investors
Government regulators
Employees and managers
Civic institutions
Customers
Social pressure groups
Local communities
Media and academic commentators
Suppliers and other business partners
Trade bodies
Competitors
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8. Nonsocial Stakeholders
Primary nonsocial stakeholders
Secondary nonsocial stakeholders
Natural environment
Environmental interest groups
Future generations
Animal welfare organizations
Nonhuman species
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9. Who Are Our Stakeholders?
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10. What Responsibilities Does a Firm Have to its Stakeholders?
What responsibilities does a firm have in its relationships with all stakeholders?
Responsibilities are
Economic
Legal
Ethical
Philanthropic
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11. The “Clarkson Principles” of Stakeholder Management
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