Darden Ideas to Action shares business knowledge — research, analysis and commentary — from faculty and experts of the University of Virginia Darden School of Business.
Stakeholder theory is based on the principle that a firm should create value for all stakeholders, not just shareholders. It stresses the interconnected relationships between a business and its customers, suppliers, employees, investors, communities and others who have a stake in the organization.
What does a formerly popular NBA franchise do when it sees a sheer drop in attendance and more than half its luxury suites go empty? It employs this technique to determine how much fans value different perks … and refills the arena with a strategic and inexpensive promotion.