Relating to the role that the outer context and environment of organizations play in establishing and maintaining organizational legitimacy, this chapter deals with the relevant players that are part of the environment. Organizations face the challenge of understanding the varying interests of stakeholders, the topics and issues that drive a corporate-stakeholder relationship, and its value relevance. Being confronted with a range of societal issues while increasing societal awareness is developing, stakeholder relationships and dialogue “legitimize a ‘corporate license to operate’ ”