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Companies are operating in a constantly changing business environment where various stakeholders have different expectations of the company. Addressing these expectations requires complex business decisions and a broad knowledge of stakeholder management. With limited resources, companies may miss the possibilities to increase shareholder value through stakeholder management. This thesis work examines the stakeholder management of a case company in the manufacturing industry. The research problem deals with how should the case company manage its stakeholders to maximise its shareholder value. To support this, the first research objective is to identify the stakeholders that the case company’s management should focus on. The second objective is to provide recommendations for the case company to manage each stakeholder group. The empirical part of the thesis consists of an analysis of two Internet surveys and interviews with 27 stakeholders in Finland, Sweden, and the United Kingdom. Threat-cooperation and power, legitimacy, urgency typologies are tested by using them to analyse the twelve interviewed stakeholder groups. Both of the tested typologies are found suitable for analysing stakeholders of a large manufacturing company. On average, the interviewed stakeholder representatives perceive the environmental aspect of corporate responsibility the most important while confirming the importance of social and economic aspects. Fro