Mgt 630 Stakeholder Management And Shared Utility (100 Points)

Stakeholder Utility AuthorDepartment, University Course code: Course title Instructor Due DateStakeholder UtilityThe classical purpose of business organization was to increase their owners' value, such as the shareholders. This definition gives the shareholder the highest say in the activities that the business should engage in such that it maximizes their return on investment. However, the concept of sustainable businesses remains new, and it emphasizes that all the stakeholder of the organization have equal claim to the business, thus they have equal entitlement (Carroll et al., 2017). Organizations must therefore align their operations with all the stakeholders' needs, such that the stakeholders have a shared utility to achieve success in the modern competitive business environment. Stakeholders provide services to the organization, thus allowing it to achieve its objectives. The community offers the market as well as labor. Businesses cannot operate without a market. Similarly, it requires labor to produce goods and services. It also needs investors to provide capital. Capital allows the company to pay for other production factors such as labor, land, and equipment. Lastly, it needs suppliers to provide raw materials. Most of the