The Conscious Company Glossary

Stakeholder

A person, group, or organization that has a direct or indirect stake in an organization because it can affect or be affected by the organization’s actions, objectives, and policies. A key practice of conscious companies is considering and weighing the interests of all stakeholders — including customers, investors/shareholders, employees, suppliers, society, and the environment — and seeking win-for-all solutions when making decisions. The stakeholder theory of organizational management was first popularized by R. Edward Freeman with his 1984 book “Strategic Management: A Stakeholder Approach.”

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