ABSTRACT
In this chapter, the author considers the stakeholder theory is a curse that lies heavily upon all our organizations. Many suppliers are even more dependent upon the organizations they serve than some employees and customers are, yet Britain's leading food retailer, Sainsbury's, lists only four stakeholders: the local community, the customer, employees and shareholders. Everyone agrees that it should fall to the management to hold the balance between the various stakeholders, to act in 'the interests of all the community', for the good of all, and to ensure everyone receives their just deserts. One of the alleged stakeholders is 'the community'. Most companies claim to be working for the community. The author looks most statements proclaiming that the community is an important stakeholder as little better than humbug. But the community is not the only spurious stakeholder. The author also considers a number of wholly evil consequences flow from the stakeholder theory.
