FACTOID # 6: Michigan is ranked 22nd in land area, but since 41.27% of the state is composed of water, it jumps to 11th place in total area.
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Encyclopedia > Stakeholder concept

The stakeholder concept states that a company's responsibilites are to all of its "stakeholders". Stakeholders are people who affect, and are affected by, the company. This means that a business has to fulfill the needs and wants of many different people ranging from the local population and customers to their own employees and owners. While this has an increased cost many firms are now switching to this concept because of the it is perceived that the concept improves the image of a firm and makes them less likely to be targeted by pressure groups. Its opposite is the shareholder concept.

  Results from FactBites:
Stakeholder - Wikipedia, the free encyclopedia (875 words)
Courts sometimes act as stakeholders, holding property while litigation between the possible owners resolves the issue of which one is entitled to the property, and trustees often act as stakeholders, holding property until beneficiaries come of age, for example.
An "escrow agent" is one kind of trustee who is a stakeholder, usually in a situation where part of the purchase price of property is being held until some condition is satisfied.
Post, Preston, Sachs (2002), in their theory called Stakeholder view, use the following definition of the term "stakeholder": "The stakeholders in a corporation are the individuals and constituencies that contribute, either voluntarily or involuntarily, to its wealth-creating capacity and activities, and that are therefore its potential beneficiaries and/or risk bearers."
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Stakeholder theory has progressed substantially in recent years and there are now several methodologies or models that can be used to understand or interpret the influence stakeholders have on the organization and/or the influence the organization has on the stakeholders.
Stakeholders in Quadrant C are the most challenging to maintain relationships with as despite their lack of interest in general, such a stakeholder might exercise its power in reaction to a particular event or corporate activity.
Stakeholder concept researchers are beginning to use social capital as another approach to understanding the relationships between the corporation and its stakeholders.
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