The Enlightened shareholder value approach can be said to embody the insight that the interests of the shareholders are not likely to be advanced if the company management conduct its business in a manner in which the employees are unwilling to work effectively, suppliers and customers refuse or are unwilling to engage with it and the company is at odds with the local community in which it operates and its ethical and environmental standards are regarded as lamentable. Critically discuss this statement taking into account the role of various stakeholder groups and the effectiveness of codes, principles and guidelines on the role of shareholders and stakeholders in corporate governance
