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 Initial reflections: What do the stakeholders think?

Abhishek Ramaesh- CNA


The debate for establishing which stakeholder does a business need to cater to has started in full swing, unfazed by technical issues. Even though the opening speeches helped establish the stance of the stakeholders, some failed to pack a punch. 


The delegate representing the employees made their point heard: loud and clear- with a confident and authoritative opening speech. They established their stance highlighting the importance of employees to a business, arguing that: “Firms should treat their employees fairly in order to benefit, for profit and long term sustainable growth”. Next came the business delegate, who did argue for their own benefit, but could not substantiate their points very well. Their stance was clear but their explanation was a bit generic - “A business should try to please the stakeholder since they are the backbone of the firm”.


The delegates for investors and partner firms were able to put across their points clearly and the committee argument did not seem one-sided, as each stakeholder had a different take on the topic. Even though the delegate for consumers did argue for their benefit, it seemed that their stance wasn’t very clear as it did change towards the GSL which caused  confusion among a few delegates. But, their willingness to speak and explain their stance is commendable.


The chairs moderating the debate were also observant but didn’t really seem to follow, while the deputy chairs also took a fair stance and seemed more composed throughout the committee session. 


Overall, the stakeholders have a stance but they are not very well developed for some such as the government and the business, which might lead them to a disadvantage further in the debate.

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