Which stakeholders must companies satisfy? What role should stakeholders play in a firm's internal code of conduct?

What will be an ideal response?

Stakeholders include stockholders, employees, customers, and society at large. In the short term, the aims of these groups conflict. Stockholders want additional sales and increased productivity, which result in higher profits and larger returns going to them. Employees want additional compensation. Customers want lower prices. And society at large would like to see increased corporate taxes or corporate involvement in social functions. In the long term, all of these aims must be achieved adequately, or none will be attained at all because each stakeholder group is powerful enough to cause the company's demise. When developing an internal code of conduct, firms need to communicate company policies to employees, suppliers, and subcontractors to ensure that everyone involved understands what behavior is acceptable. External stakeholders should receive reports of how the code of conduct is functioning.