Column A:

Stakeholder approach

Column B:

Description

(a) Descriptive stakeholder approach

(i) Identifies the relationships between the management of stakeholder groups and the achievement of corporate goals and objectives.

(b) Instrumental stakeholder approach

(ii) Examines the function of the corporation and the moral guidelines for the operation and management of the corporation.

(c) Normative stakeholder approach

(iii) Seeks a balance between two approaches to the stakeholder theory; it illustrates the possibility of developing morally sound ways of conducting profitable business.

(iv) Describes and explains the characteristics of the corporation, including aspects such as how it is managed, who the stakeholders are, how the corporate considers its constituencies and the way its management think about managing the corporate.