Abstract

This article discusses issues in stakeholder management in distinguishing it from social activities, based on several research studies and stakeholder theories. It describes that the central a stakeholder group may be defined as any group whose collective behavior can directly affect the organization's future, but which is not under the organization's direct control. According to a research program undertaken by the Wharton Applied Research Center at the University of Pennsylvania, Pennsylvania, the central goal of stakeholder management is to achieve maximum overall cooperation between the entire system of stakeholder groups and the objectives of the corporation. The most efficient and effective strategies for managing stakeholder relations involves efforts which simultaneously deal with issues affecting multiple stakeholders. It is suggested that there is a considerable attitude gap between most activist group members and business leaders. The notion of stakeholder management does not suggest that managers must change their attitudes to conform with activists or visa versa.