Organizations should take a stakeholder-centric approach, where they consider the interests and concerns of all stakeholders and strive to create value for them. This means that companies should not only prioritize the interests of shareholders but also take into account the needs of customers, employees, suppliers, the environment, and the community.

Effective stakeholder management involves identifying and prioritizing stakeholders, engaging with them to understand their needs and concerns, and developing strategies to meet their expectations. Organizations should also establish effective communication channels to keep stakeholders informed about their activities and to gather feedback.

In summary, a stakeholder-centric approach can help organizations build stronger relationships with their stakeholders, promote trust and loyalty, and ultimately lead to long-term success.