Stakeholder capitalism
Stakeholder capitalism is an economic model that emphasizes the importance of considering the interests of all stakeholders, including employees, customers, suppliers, and the environment, in addition to shareholders. This approach is often seen as a more sustainable and socially responsible alternative to traditional shareholder capitalism. Proponents of stakeholder capitalism, such as Milton Friedman's critics, argue that it can lead to better long-term outcomes for both businesses and society as a whole. The concept is closely related to corporate social responsibility and Environmental (conservation) efforts. Stakeholder capitalism involves strategies that prioritize social belonging and behavioral well-being, alongside financial performance.