Fernando's Business Ethics and Corporate Governance, 3rd Edition

72

Part 1

 Business Ethics

this might include political prisoners, abused children, minorities and the homeless. However, a

more seriously conceived and yet contested list of stakeholders would generally include employ-

ees, customers, suppliers, the government, the community, assorted activist or pressure groups,

and of course, shareholders. Some writers of the theory opine that where there are too many

stakeholders, it is better to categorize them as primary and secondary stakeholders ‘in order to

clarify and ease the burden it places upon directors’. Clive Smallman says: ‘The case for includ-

ing both the serious claimants and the more