Who are the non-shareholder constituencies Bagley refers to, and what are their interests?

Question

Business Ethics

Answer 1

Non-shareholder constituencies would be employees, vendors who have interest or connections to the company, or even the community where the company is located.

An employee has interest in a company so he/she can have job security.

A vendor has interests with a company it is doing business with because of reputation, volume of product they move, etc.

A community has interest in a company for economic outlook, growth of the community, jobs, pollution, etc.

P.S. When you refer to Bagley, I assume you are talking about Constance Bagley, business professor at HBS.