No small, power elites managing things. It also changes over time as beliefs, values, institutions, and social processes evolve. Welfare of each stakeholder must be considered as an end in and of itself, not simply as a means to enrich shareholders. This model rejects the traditional view, which emphasizes profit making for stockholders. Market capitalism model is dominant in the thinking of a majority of managers, especially in smaller enterprises.
Most managers understand dynamic forces model.
Many critics of business, among others, hold both the dominance model and the stakeholder model.