Stakeholder theory in perspective

Those who use stakeholder theory as a reference are both underlining the correlation between facts and a certain conceptualization thereof, and trying to make the necessary shift from a “panoptic” analysis akin to a panoramic vision of texts and positions, to an “in‐depth” one geared towards an understanding of their foundations. As a “theory of organizations”, stakeholder theory helps to nourish a relational model of organizations by revisiting questions about “who” is actually working with (and in) the firm. Stakeholder theory is part of a comprehensive project that views the organization‐group relationship as both a foundation and a norm.