The article, “Boom in Energy Spurs Industry in the Rust Belt”, from the New York Times truly illustrates the power of business to change and improve the economy of certain communities while it also serves its own interest in maximizing profits. This situation demonstrates the positive effect of Stakeholder Theory, as many parties, including the business itself, benefit from the actions of the business.
Unemployment is a rampant and problematic issue throughout the United States and, in many areas, it has positively debilitated the workforce. Therefore, as businesses start taking advantage of the resources in these areas, they not only bring in more profits, but they provide job opportunities and an overall boost to the areas’ economic infrastructure as well. This is also not just an intelligent move by the business in terms of resources, however, as their actions result in an image of patriotism and overall morality. Though the businesses may practice in ways that upset environmental advocates, their overall impact has not only served their own interests but the interests of the community. In this case, Stakeholder Theory holds and proves that a successful business need not ignore the interests of the people, for considering both can lead to optimal profits and overall economic well-being.