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Scientific Essay from the year 2010 in the subject Business economics - General, grade: 2,0, Griffith University, language: English, abstract: 1.4 Theory - Stakeholder ... ¿any group or individual who can affect or is affected by the achievement of the organization¿s objectives¿. Sharma and Starik (2004, p. 16) maintain that ¿Stakeholders [¿] exist at different organizing levels and according to Phillips (2003, p. 13), each organization identifies different stakeholders. Phillips (2003, p. 16) argues that stakeholder theory deals with moral principals and that it is important to pay attention to ¿the interests and well-being of those who can assist or hinder the achievement of the organization¿s objectives¿. Phillips (2003, pp. 28-29) distinguishes normative and derivative stakeholders: Normative stakeholders are those to whom the organization has a direct moral obligation to attend to their well-being [¿] such as financiers, employees, customers, suppliers, and local communities. Alternatively, derivative stakeholders are those groups or individuals ... 1.5 Identify stakeholders According to the Glossary of BMW Group, the company¿s stakeholders are ¿primarily customers, employees and shareholders and special interest groups, as well as municipalities worldwide where the BMW Group operates¿ (Sustainable Value Report, 2008). ...
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