Practicability, Paradigms, and Problems in Stakeholder Theorizing

The author focuses on different perspectives concerning a proposed convergent stakeholder theory. He states that the theory should be practical both theoretically and have an applied difference. He suggests that relying on management to rely on moral grounds alone in doing the right thing is unrealistic. He mentions that the premise that the assumption that there are no sets of interests assumed to dominate others is not entirely valid as stakeholder groups can be varied. He comments that he doesn't see the new theory as being transformative but rather attempts to find common ground between differing ideas. He suggests that the theory deals more with an normative approach attempting to achieve legitimacy within the domain of organizational theory.