Posted in Marketing and Strategy Terms, Total Reads: 1499
Definition: Intrinsic Stakeholder Commitment
It is a type of approach to take care of the stakeholder’s rights and interests in which due importance is given to the stakeholder while formulating the strategy of the company and their interests are considered before any other commitment.
Under this commitment it becomes the moral obligation for the organization to consider the stakeholders first before any other commitment
This is very beneficial for the stakeholder as the management has to take care of their interest and not use them just to make profits out of them.
In general this ethical practice gives the guideline to treat the stakeholders and protect their rights and for this practice to be implemented successfully management have to include this in their agenda while formulating the strategy.