A firm is never a means to its own end, rather, it must realise its business activities, which must provide a social benefit in active interaction with the most varied of stakeholders. These are represented in the outermost circle of the Management Model. On the left-hand side are stakeholders who provide the operating conditions or the resources. On the right-hand side are stakeholders who, in most cases, are relatively directly and deeply affected by the company’s value creation. Fundamental to the relationship with all stakeholders is the attempt to establish a fair balance of give and take.
KeywordsStakeholder Approach Regulative School Balance Consideration Fair Balance Stakeholder Demand
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