1. Role of business in society
Secondly, stockholders rights to the profits are protected by contract amongst the various corporate stakeholders (customers, employees, managers, etc). ... Stakeholder theory A much-discussed alternative to the stockholder-centred concept of the corporation is the stakeholder theory, originally described by Edward Freeman. [17] Under the stakeholder approach, corporations operate for the benefit of all those who have a stake in the enterprise, including employees, customers, suppliers and members of the local community. ... If a business ignored the demands of customers or suppliers for v...
- Word Count: 2501
- Approx Pages: 10
- Grade Level: Undergraduate