It was disseminated electronically, by email and through stakeholder body networks and made available on the web.
Companies guided by the stakeholder perspective are typically those that hold themselves - and their employees - accountable for conducting business in a socially responsible manner.
A stakeholder is any person or group of people that affects or is affected by an organization.
Further, because the decisions that tend to be made in a culture characterized by the stakeholder approach are ones focused on long term success, in the long run shareholders ultimately benefit to an even greater extent.
In practice, a stakeholder philosophy of doing business results in decisions and actions often described as ones that exhibit corporate social responsibility.
Decisions also focus on doing what is in the best interests of employees, customers, the community where the business operates, other stakeholder groups.
A stakeholder approach to business ethics, on the other hand, focuses on doing what is right for all groups who are impacted by the organization.
Organizations with a high performance operational philosophy utilize a stakeholder approach to decision making.
There are two approaches to decision making: the shareholder approach and the stakeholder approach.
Short-term gains might not be as great when filtering decisions by considering stakeholder impact.
