This chapter provides elaboration of stakeholder theory, commencing with four general perspectives on stakeholder theory as identified by Donaldson and Preston (1995). This is followed by a discussion of how CSR or corporate social responsibility has influenced thinking about stakeholders and forms an integral part of the normative perspective. Carroll’s (1993) popular CSR model has been adapted and modified for this book, providing a more integrated and relevant approach.
Defining and classifying stakeholders is the third major topic covered, drawing first on generic stakeholder theory and commencing with a discussion of primary and secondary, active and passive stakeholders. Particularly attention is given to the framework provided by Mitchell, Agle and Wood (1997) that defines ‘stockholder salience’ as a combination of ‘legitimacy, power and urgency’. These terms are explored in detail. The chapter concludes with an examination of event and tourism stakeholders, including a diagram and research notes from the events and tourism literature.
