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Firms which adapt new manufacturing technologies, such as flexible manufacturing systems (FMS) or computer integrated manufacturing (CIM) and concepts such as just‐in‐time (JIT), can expect to exert a significant influence on various stakeholder groups. Additionally, innovative accounting systems which are currently being developed to monitor and evaluate the performance of manufacturing systems will have a direct impact on certain stakeholder constituencies. Uses stakeholder theory as a basis for explaining the complex relationships among the firm and various constituencies or stakeholders. Major stakeholder groups include educators, auditors, trainers, line managers, human resource managers, suppliers, customers, stockholders, labour unions, the financial community, government, local community organizations, environmentalists, employees, directors, management and bondholders. The needs of the various groups are placed in the context of the new global competitive environment.
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