Abstract
This paper distinguishes itself by addressing a subject often avoided due to its inherent complexities: stakeholders as a pivotal theme in strategic thought. It explores their general concepts, classifications, and perspectives, defining stakeholders as independent groups or entities linked to a business organization through a network of influential relationships with diverse dimensions and directions, where any imbalance in these relations could prove detrimental to all parties involved. The paper argues that an appropriate stakeholder classification must be broad in scope, taking into account the specific country’s traditions, laws, customs, and the prevailing administrative style governing its business organizations. Furthermore, while the paper provides a rigorous theoretical framework encompassing four primary perspectives—instrumental, descriptive/empirical, normative, and environmental—it identifies the environmental perspective as the most comprehensive; this is because it frames relationships and contemporary issues by integrating corporate governance, business ethics, strategic management, and organizational effectiveness, alongside other human, institutional, and structural dimensions.
DOI
10.33095/jeas.v13i48.1229
Subject Area
Managerial
First Page
1
Last Page
16
Recommended Citation
Al-Anzi, S. A. (2007). A Serious Attempt to Frame Stakeholder Theory in Business Management Studies. Journal of Economics and Administrative Sciences, 13(48), 1-16. https://doi.org/10.33095/jeas.v13i48.1229
