It brought to existence a complete body of knowledge surrounding the ethical management of stakeholders.
[8] The Strategic Planning Society's magazine, Strategy, subsequently hosted a debate on Argenti's views.
[11] Donaldson and Preston's academic work [12] developed the normative approach, but while Berman et al. find empirical support for the financial benefits of effective stakeholder management, they have not identified any empirical basis for the normative model.
[10] It is well acknowledged that any given organization will have multiple stakeholders including, but not limited to, customers, shareholders, employees, suppliers, and so forth.
Stakeholder management within businesses, organizations, or projects prepares a strategy using information (or intelligence) gathered during the following common processes.