Stakeholder value approach,
Definition of Stakeholder value approach:
Management philosophy that regards maximization of the interests of its all stakeholders (customers, employees, shareholders, and the community) as its highest objective. Its objective is to maximize this value by following policies that (1) minimize cost and waste while improving the quality of its products, (2) enhance the skills and satisfaction of its employees, and (3) contribute to the development of the community from which it draws its resources and sustenance. Compare with shareholder value approach.
Meaning of Stakeholder value approach & Stakeholder value approach Definition