ABSTRACT
Stakeholders have been at the forefront of sustainable development research because no organisation can face the changing environment by itself. The role of individuals, groups of people or organisations that might influence sustainable development is fundamental. Any organisation has its own unique stakeholders, who influence it and at the same time are affected by its actions and decisions. Therefore, it is necessary to identify the types of stakeholders, their needs and expectations, create a dialogue with them and manage stakeholder relations. Understanding their engagement in a broad sense might have a positive effect on the organisation. Gathering information from stakeholders and managing their interests can be a valuable source of knowledge and lead to value creation. Interacting and responsible collaboration with stakeholders allows them to be involved in the decision-making process and have positive outcomes for transparency, governance, accountability, and responsibility management.
Investigating collaboration with stakeholders, what it means to create value for them and how to measure it can be crucial to understanding their role and importance in sustainable development.
