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Thesis Statement: Utility of Stakeholder Theory for Sustainable Business
Strategies employed by international companies to gain competitive advantage over their rivals differ from one company to another. One way of doing this is ensuring that they are environmentally conscious in how they partake their activities. In this modern age, they should not only focus on profit making but also consider how their activities affect the stakeholders of the business; hence the stakeholder model.
The Stakeholder Model
Unlike the traditional economic model that focused on the main goal of profit
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Their sensitivity to the environment they operate in and the people involved in their business attracts customer loyalty, which in turn keeps them in business thus creating profits.
This article had some informal fallacy in the sense that it appealed to the probability of the success for all companies that applied the stakeholder theory due to the success of the three examples given. The author does not look at the challenges that come with being on the international platform and trying to adjust to the different social or environmental laws that may apply to different locations.
The author could have focused on more than one theory that apply to different locations and companies other than the one theory presented in the article.
Information is power. In order to be the best and maintain this position, international companies should focus on acquiring information on their field of expertise. This kind of information should be that which is not easily available to the competitors or the kind that has not been keenly explored. Having the advantage of information always keeps the company a step ahead of its rivals. Information may be easy to obtain since all it needs is intensive research in to the target market or the investment in to development projects related to research. Whichever way a company opts to go,
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