Stakeholder approach

[1] According to the degree of participation of the different groups, the company can take advantage of market imperfections to create valuable opportunities.

[2] This approach is based on stakeholder theory, which arises as a counterpart to business practices and management that focus on shareholders satisfaction.

Even if there are limits in loyalty and reputation can be damaged, those two key elements can make a big difference creating barriers to other companies that may want to have information about stakeholder utility functions.

[5] Trying to satisfy a large number of players complicates governance[citation needed], and may make it difficult to reach consensus.

[8] Moreover, this approach has been criticized for implying that all stakeholders negotiate on a level playing field, ignoring potential disparities between the various interested parties.