(c) Critically appraise the use of stakeholder approaches to performance evaluation, in contrast to shareholder approaches to performance evaluation, such as those referred to in parts (a) and (b) above, in light of the following statement:

In August 2019, the Business Roundtable issued a statement that 181 CEOs of top U.S. companies, including Apple and Walmart, signed. The letter included the statement, Each of our stakeholders is essential. We commit to deliver value to all of them, for the future success of our companies, our communities and our country.

This is a big deal. Its top CEOs acknowledging that business is not an exclusive exercise in delivering profit to shareholders. Instead, in many instances, there also is a responsibility to other stakeholders, including employees, customers, suppliers and the wider society.

CIMA Insights 2020, By Bryony Clear Hill, Associate Manager Ethics Awareness, Association of International Certified Professional Accountants