Professor Pushpika Vishwanathan is an eminent authority on how stakeholders are enfranchised in company activities. She studies criteria that legitimize stakeholders: transactions, community members, and even the natural environment. How do we know who is in and who is out? It really depends on a case-by-case analysis by managers of organizations, she says. She explains how managers are held true to the corporation’s purpose by employees, customers, regulators, and other stakeholders–at least ideally.In this thoughtful conversation, Pushpika reflects with Anita on the risks and benefits of this approach, and the emergence of new models of governance such as stewardship for assuring that managers are held to high standards in their orientation toward value creation for stakeholders.

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