Meaning ● Ethical Stakeholder Theory, within the SMB environment, emphasizes that a business’s success is tied to creating value for all stakeholders, including employees, customers, suppliers, and the community, not just shareholders. Strategic SMB leaders implementing automation must consider the ethical impacts on their workforce, ensuring retraining opportunities or fair transitions.
● For growth-oriented SMBs, embracing this theory means making responsible decisions that foster long-term relationships and build a trustworthy brand. The implementation phase requires transparency and open communication with all stakeholders about changes and potential benefits. Ethical conduct during automation can significantly improve a business’s reputation and attract conscientious investors. Furthermore, sustainable SMB scaling hinges on integrating ethical stakeholder management into core business operations and automated processes, promoting fairness and equity. Implementing automation ethically also ensures that customer data privacy is protected, fostering trust and long-term loyalty.
