This document provides an overview of stakeholder theory. It discusses who stakeholders are, including shareholders, employees, suppliers, customers, and the community. Traditionally, corporations were managed in the interests of shareholders alone. However, stakeholder theory argues that corporations should consider the interests of all stakeholders, as each group has a stake or claim on the company's resources and activities. The document examines the stakes and expectations of different stakeholder groups and discusses how stakeholder interests may conflict. It argues that managing stakeholder relationships and seeking mutual benefit is key to long-term organizational viability.