There is not much disagreement on what kind of entity can be a
stakeholder. Persons, groups, neighborhoods, organizations, institutions,
societies, and even the natural environment are generally thought to
qualify as actual or potential stakeholders. We find that it is the view 856 Academy of Management Review October
taken about the existence and nature of the stake that presents an area of
argument, because it is upon the basis of "stake" that "what counts" is
ultimately decided.