The Stakeholder Theory by Thomas Donaldson

Stakeholders are often defined as individuals or organizations that may be affected by the organization's performance. In Thomas Donaldson's Theory of Corporate Stakeholders: Concepts, Evidence, and Impacts, he cites Stanford's research institutions and stated that stakeholders are 'unsupported organizations'. A group that no longer exists. "Consequently, stakeholders can influence the organization and be considered an affected person. According to Greaseley (1999, p 9), there are three types of stakeholders: internal, relevant, external.

Donaldson and Preston (1995) identified the framework in academic literature: instrumental in normative, descriptive, and stakeholder theory. However, Agle, Mitchell, and Sonnenfeld claim that the normative basis of stakeholder theory is the starting point for promoting the creation of better theories, methods and tools. In addition, Jensen (2002) believes that maximizing stock prices is the goal of the organization. But according to Attas (2004), stakeholders are economically, socially or psychologically damaged by company failure.

According to the stakeholder theory, an enterprise can be viewed as a link with actors or stakeholders - they are motivated to participate in organizational activities through contradictory and sometimes contradictory interests (Donaldson and Preston 1995). Several of these stakeholders (eg, employees, managers) are directly involved in coordinating and implementing production activities. Some other stakeholders (investors, strategic partners, etc.) may support organizational activities indirectly or partially. The third category of stakeholders includes various actors that operate at the boundary of the abstract entities that make up the company and encounter organizations for various reasons. Other stakeholders include customers, regulators,

The second approach, the stakeholder theory (Freeman 1984; Donaldson and Preston 1995), is based on the need to respond to the demands of various stakeholders whose behavior (or inadequate behavior) It is rooted. Defining the performance "What is a stakeholder and what is a stakeholder" is always one of the scholar's concerns in this ideology and it is "able to answer various questions about stakeholder identity confirmation "Has arrived. , 1997). This idea is closely related to the concept of corporate social responsibility (CSR); 3 This concept is defined as "behavior" and it is defined as a specific social benefit that goes beyond the company's interests and legal requirements It seems to promote (McWilliams et al. People, 2006: 1 page, page 18)