Toward a Contemporary Conceptual Framework for Stakehgolder Theory

ABSTRACT. Atomic individualism is embedded in most definitions of stakeholder theory, and as a result, stakeholders are not integral to the basic identity of the corporation which is considered to be independent of, and separate from, its stakeholders. Feminist theory has been suggested as a way of developing a more relational view of the corporation and its stakeholders, but it lacks a systematically developed conceptual framework for undergirding its own insights. Pragmatic philosophy is offered as a way of providing this theoretical undergirding for.a relational understanding of the firm and its stake-holders. KEY WORDS: Stakeholder theory progmatism, business and societ