stakeholder (noun, stake-hold-er, \ ˈsteɪkhoʊldər \) value (noun, val-ue, \ ˈvæljuː \) approach (noun, ap-proach, \ əˈproʊtʃ \)
Definition: is a management method that focuses on maximizing the interests of a company’s stakeholders (including shareholders, clients, workers, and the community) as its prime objective. The goal of this approach is to maximize the stakeholders’ value by implementing policies, which a) enhance cost control while raising the quality of the organization’s products, b) improve the skills and morale of the company’s employees, and c) secure the advancement of the community from where the organization gathers resources and sustenance.
In a Sentence:
- I believe that the only responsible choice for us, as a large corporation, is to adopt a stakeholder value approach. After all, we have more than enough resources to give back to the community, as well as to our owners and management.
- It seems that the board of directors forgot that A-B-L Pharmaceuticals follows a stakeholder value approach. Otherwise, they wouldn’t ignore the complaints made by their clients and customers, while focusing only on increasing the profitability of the enterprise.
Synonyms and related words: shareholder value approach, stakeholder theory, external stakeholder, management philosophy, stakeholder
