Stakeholder theory, a theory that identifies and models the groups which are stakeholders of a corporation or project
It was originally detailed by R. Edward Freeman in the book Strategic Management: A Stakeholder Approach, and identifies and models the groups which are stakeholders of a corporation, and both describes and recommends methods by which management can give due regard to the interests of those groups.
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The political philosopher Charles Blattberg has criticized stakeholder theory for assuming that the interests of the various stakeholders can be, at best, compromised or balanced against each other.
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Freeman also provided the chapters on stakeholder theory and stakeholder management for the world's first "Dictionary of CSR", the Institute for Corporate Culture Affairs "A to Z of Corporate Social Responsibility"