The Stakeholder Strategy

1Why Build Collaborative Stakeholder Relationships?

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To the extent the firm is able to recognize its interdependence, reflect upon the ethical standards appropriate to the situation, and react in a timely and responsive manner, it possesses a valuable, rare and nonsubstitutable strategic resource.

—Reginald Litz, 1996

Companies across North America are taking seriously the notion that as paradoxical as it seems, one way to succeed in a highly competitive globalized economy is to cooperate. In an economy where companies need to persuade investors to hold their stock, employees to work cooperatively with others, customers to buy a broader array ...