This theory maintains that the objectives of the firm should be derived by balancing the conflicting claims of the various 'stakeholders' in the firm: managers, workers, stockholders, suppliers, vendors. The firm has a responsibility to all of these and must configure its objectives so as to give each a measure of satisfaction. Profit which is a return on investment to the stockholder is one of such satisfactions, but does not receive special predominance in the objective structure.
Igor AnsoffRelated topics
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A mind does not receive truth as a chest receives jewels that are put into it, but as the stomach takes up food into the system. It is no longer food, but flesh, and is assimilated. The appetite and the power of digestion measure our right to knowledge. He has it who can use it. As soon as our accumulation overruns our invention or power to use, the evils of intellectual gluttony begin,- congestion of the brain, apoplexy and strangulation.
Ralph Waldo Emerson
It [knowledge] is clearly related to information, which we can now measure; and an economist especially is tempted to regard knowledge as a kind of capital structure, corresponding to information as an income flow. Knowledge, that is to say, is some kind of improbable structure or stock made up essentially of patterns - that is, improbable arrangements, and the more improbable the arrangements, we might suppose, the more knowledge there is.
Kenneth Boulding
To estimate the value of Newton's discoveries, or the delight communicated by Shakespeare and Milton, by the price at which their works have sold, would be but a poor measure of the degree in which they have elevated and enchanted their country; nor would it be less grovelling and incongruous to estimate the benefit which the country has derived from the Revolution of 1688, by the pay of the soldiers, and all other payments concerned in effecting it.
Thomas Malthus
Reason cannot desire for man any condition other than that in which not only every individual enjoys the most absolute, unbounded freedom to develop himself out of himself, in true individuality, but in which physical nature, as well, need receive no other shaping by human hands than that which is given to her voluntarily by each individual, according to the measure of his wants and his inclinations, restricted only by the limits of his energy and his rights.
Wilhelm von Humboldt
It cannot be too frequently emphasized that the behavior of any animal must depend upon on the nature of the stimulus which it meets, its anatomic and physiologic capacities, and its background of previous experience. Unless it has been conditioned by previous experience, an animal should respond identically to identical stimuli, whether they emanate from some part of its own body, from another individual of the same sex, or from an individual of the opposite sex.
Alfred Kinsey
