“This theory maintains that the objectives of the firm should be derived by balancing the conflicting claims of the various 'stakeholders' in the firm: managers, workers, stockholders, suppliers, vendors. The firm has a responsibility to all of these and must configure its objectives so as to give each a measure of satisfaction. Profit which is a return on investment to the stockholder is one of such satisfactions, but does not receive special predominance in the objective structure”

—  Igor Ansoff

Source: Corporate Strategy, 1965, p. 34; Cited in: Russell L. Ackoff (1994), The Democratic Corporation. p. 37

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Igor Ansoff8
American mathematician 1918–2001

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