My interpretation of who a stakeholder is brought me to the root word, “stake”. In the context of a noun, the word stake is defined as a sum of money or something else of value gambled on the outcome of a risky game or venture in the world of gambling. In the context of a verb, it is defined as giving financial or other support to, or a person with an interest or concern in the success of a business, in the world of economics. To sum it up, no matter what context it is used in, it is an individual or a group of individuals ( governments, investors and shareholders, customers, employees, suppliers and vendors, and local communities) that either invest their time, money, or support into the success of a business or organization. Edward Freeman says it best by defining a stakeholder in an organization as any group or individual who can affect or is affected by the achievement of the organization’s objectives. (Chandler, D., 2016). Many believe that stakeholders need to be appointed by firms only. However, based upon my reading, I believe a stakeholder is self-appointed, as it is based on interests or concern. However, self-appointed stakeholders may not have the same authority, influence, or power, as one would that is appointed by the firm regarding decision making and strategic planning. Nevertheless, that does not mean that they are not influential at all.

Such is the case with the Pharma giant Johnson & Johnson, aspiring to a sustainable and healthier world. Johnson & Johnson has been a household name for as long as I can remember, and is notoriously known for producing baby products, such as powder, lotion, etc. However, Johnson & Johnson’s image took a huge hit, when it was determined that one of the ingredients in the baby powder, which was designed to protect infants from diaper rash,  contained talc and asbestos, which can cause cancer, and has been proven through major lawsuits. Even with the lawsuits, the government still has not banned those products. However, consumers and advocates from around America have taken it upon themselves to boycott Johnson & Johnson products due to their dishonesty. It was proven they were aware of the effects and still continued to produce more of it. Due to the many boycotts and information shared via social media, Johnson & Johnson’s unethical behavior was put at the forefront by the customers and now held accountable. In fact, due to the demands of the customers, communities, and advocacy groups, their image was severely tainted, that even with the mention of a Covid vaccine produced by this very company, it deterred people from wanting to have anything to do with that company. Fast forward to now, due to the billions of dollars spent on lawsuits,  Johnson & Johnson has announced it  will stop selling talcum-based baby powder in the United States and Canada. ( Romo, V. 2020).

I do not believe one category of individuals should solely be held responsible to guarantee the prosperity and wellbeing of society. I believe the whole society should be held responsible, and not just the government. Grant it, we may need authoritative figures to help maintain peace and to keep crime down, etc. However, the government is not the only one responsible for polluting the air. Every day people pollute the air by smoking or littering, and other things that are environmentally damaging. We as a society should all be held responsible and we as a society should take accountability and strive to do what is “good” socially, economically, and environmentally. 

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