As we saw in this chapter, the BHP Billiton Sustainability Report 2012 , makes the following statement under the heading, ‘Our Stakeholders’:

We define stakeholders as those who are potentially affected by our operations or who have an interest in or an influence over what we do.

Our key stakeholders include the investment community, shareholders, customers, media, business partners, employees and contractors, local and Indigenous communities, industry associations, suppliers, governments and regulators, non-government organisations (NGOs), community-based organisations and labour unions.

Is the above definition of stakeholders consistent with the managerial or ethical branch of stakeholder theory?