Managing for Stakeholders

Managing for stakeholders means recognizing and balancing the needs, interests, and expectations of all individuals or groups affected by a company's actions. Stakeholders can include employees, customers, shareholders, suppliers, and the community. Effective management involves transparently addressing their concerns, ensuring fair practices, and making decisions that support long-term value for both the organization and those involved. It’s about creating a mutually beneficial relationship where the company’s success aligns with the well-being of its stakeholders.