Build Better Businesses - Stakeholder Theory

Stakeholder Theory is a widely understood concept in Business today.

Its the joining of many different cohorts to ensure a healthy and sustainable future for a business and it's customers utilizing positive ethics and morals.

Bringing together these various parts helps achieve a firm's objectives, while being able to give back to the community and push forward social causes while decreasing income disparity.

Cohorts include:

Customers

Employees

Competitors

Communities

Financiers

Political Groups

Suppliers

Trade Associations

Trade unions

Environmental Organizations 

Instead of the old fashioned Shareholder/Stockholder theory which solely focuses on simply profits for the select few. Stakeholder theory focus's on creating as much value as possible for all parties involved.

We can all follow in the footsteps of @Mark Beinoff at Salesforce, In 2014 he donated $100 million to UCSF and Oakland Children's Hospital with the goal of significantly advancing children's healthcare worldwide.

Going forward I have adopted this, and I encourage this way of doing business as well for all Managers, Presidents, Chairman's and CEO's.

Let's all work together and build a better future. As modern leaders we have the ability, capacity, competence and duty to help benefit all of humanity.

Do you agree?