stakeholder theory

Definition

A conceptual framework of business ethics and organizational management which addresses moral and ethical values in the management of a business or other organization. The stakeholder theory was first proposed in the book Strategic Management: A Stakeholder Approach by R. Edward Freeman and outlines how management can satisfy the interests of stakeholders in a business.

Use stakeholder theory in a sentence

  • I did not like the stakeholder theory because, like everything else, it was based in philosophy and not in truth.

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  • You may want to find a way to use the stakeholder theory for you so that you can grow your business quicker.

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  • The stakeholder theory was especially interesting because a corporations first responsibility is profit to its shareholders, according to Milton Friedman.

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