With this topic of interest and influential groups (Eng. Stakeholders) as a factor of corporate governance, the author of this paper, wishes to present and promote a way of corporate governance and corporate culture that has imposed itself increasingly as an alternative to the current way of understanding corporate governance and economic activities. The author wishes to point out that present way of corporate governance has to be changed, not only on the management level, but also by changing global state of mind on the level of business owners. Focusing on profit, measuring performance in amounts of paid bonuses, ignorance of society and groups involved in economic activity, has become a rather limited model when it comes to their ability to their long term sustainability and success. Thanks to rapid development of society, globalization, individuals who are better informed, new competitors primarily expect the management to possess new knowledge and skills. The author believes in the Stakeholder theory to be one of the best alternatives because it recognizes and accepts the inevitable interaction between a business entity and its environment, that is, society. The author hopes to have explained the theory itself with his work and offered the possibility of an active implementation in the current economic market.