Response Post on the Stakeholder Model

The video was very informative and gave some interesting points. Almost all companies want to make a profit- and as much profit as they can. However, I feel that if a company relies solely on the Shareholder method of wealth maximization it could be detrimental to the company itself. If employees feel that the company only is in business to make the Shareholders or Management money, then they could become resentful and leave. If the same company doesn't listen to the needs of its customers, then the customers will start to take their business elsewhere. Without customers or employees, the company will not thrive let alone survive.
The Stakeholder model, allows the company listen to the needs of the customers and the employees while still making money for the Shareholders and management. If for example, the company offers a profit share or bonus incentive for its employees; then the employees can "buy in" to the company's vision for the future. If employee morale is good then employees want to work and will do their best. This can result in more efficient work saving the company money. If the company listens to their customers, then those customer can become repeat customers and tell others in the industry their positive experiences and that in turn will bring in more new customers.
More orders, new customers and an efficiently working employees can all factor into increased profits for the company and its Shareholders.
References:
Alanis Business Academy. (January 6, 2014). Social responsibility perspectives: The shareholder and stakeholder approach [Video]. https://www(dot)youtube(dot)com/watch?v=vD9XJKZmXEs