Stakeholder theory has been articulated in a number of ways, but in each of these ways stakeholders represent a broader constituency for corporate responsibility than stockholders. Discussions of stakeholder theory invariably present contrasting views of whether a corporation's responsibility is primarily (or only) to deliver profits to the stockholders/owners. Milton Friedman's (1912-) now-famous pronouncement that the only social responsibility of corporations is to provide a profit for its owners stands in direct contrast to those who claim that a corporation's responsibilities extend to non-stockholder interests as well.
One very broad definition of a stakeholder is any group or individual which can affect or is affected by an organization." Such a broad conception would include suppliers, customers, stockholders, employees, the media, political action groups, communities, and governments. A more narrow view of stakeholder would include employees, suppliers, customers,......

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Title: Stakeholder Theory
Approximate Word Count: 1088
Approximate Pages: 5 (250 words per double-spaced page)

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