In the traditional view of the firm, the shareholderview, the shareholders or stockholders are the owners of the company, and the firm has a binding fiduciaryduty to put their needs first, to increase value for them. Stakeholder theory argues that there are other parties involved, including employees, customers, suppliers,financiers, communities, governmental bodies, political groups,trade associations, and trade unions.

What do you think? Are corporations obligated to pursue the interests of shareholders, perhaps at the expense of other stakeholders? After all, the shareholders own the corporation, so shouldn't they come first? If so, that would agree with the traditional view of the firm: its mission is to increase the wealth of the shareholders. Or do corporations need to pay attention to other stakeholders as well? Does the firm need to be concerned with the welfare of its employees? What is the firm's responsibility to the community in which it operates?