Every business has stakeholders, whether or not it thinks of them that way. Conscious businesses understand this thoroughly. They treat satisfying the needs of all their major stakeholders as ends in themselves, while traditional businesses often treat their stakeholders other than investors as the means to achieving their ultimate goal of profit maximization.
A key difference between a traditional business and a conscious business is that in the former, managers routinely make trade-offs among stakeholders. A good manager is seen as one who makes trade-offs ...
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