More companies focus on stakeholder-

Good news- If done right-

So many firms screwed a lot of people in name of profit-

Screw the community, contaminate the water-

Don’t clean up after closing the plant-

Blackmail cities to give more benefits and etc-

It is great that there is more focus on stakeholders-

However, one issue with this approach- Is the big question who are the stakeholders-

So in such case, it could just be a slight of hand-

A good PR campaign-

Or it could lead some special interest groups to blackmail the firm-

Some environmental group may claim to advocate the community and

force the firm to close the plant and decrease employment/ tax revenues-

Sometimes even communities may blackmail the firm and say you need

to build us a whole new park/ facilities and etc-

Unions can blackmail the firm and keep asking for wage increases and more perks-

So it can get messy-

It is good that firms care more about the community but the stakeholder approach is

not perfect-

Also, the shareholder focus still works. Any group can buy shares and exert influence on the firm.

Of course, it is hard to buy large amount of shares but still once a shareholder, they do have a voice-

Overall, nice to see more focus on community- But hope it works well-