The Stakeholder Approach

The Stakeholder Approach is a way of thinking about decision-making that considers the interests and needs of all parties involved in an organization, not just shareholders. Stakeholders can include employees, customers, suppliers, communities, and investors. This approach emphasizes that organizations should create value for all these groups, rather than focusing solely on profits. By engaging with and understanding the perspectives of different stakeholders, organizations can make better decisions that promote sustainability, social responsibility, and long-term success. Ultimately, it’s about balancing various interests for the benefit of the whole system.