Stakeholder theory asserts that while there are other stakeholders in business, the most important is still the shareholder and their needs should take precedence of the needs of other stakeholders.

Stakeholder theory posits that all stakeholders of a business, including customers, employees, suppliers, communities, and shareholders, have a legitimate interest and should be considered in business decision-making. The theory does not prioritize the needs of one stakeholder over the others, but instead advocates for a balance of their interests.