I am looking for the differences between stakeholder theory and Resource Dependence theory. I will greatly appreciate your feedback on this.
Stakeholder theory has been a popular heuristic for describing the management environment for years, stakeholders possess one or more of three relationship attributes: power, legitimacy, and urgency. Stakeholder theory development emphasizes the explaining and predicting how an organization functions with respect to the relationships and influences existing in its environment. Resource-dependence theory is a theory of organization(s) that seeks to explain organizational and inter-organizational behavior in terms of those critical resources that an organization must have in order to survive and function. The theory focuses on the following: resources; the flow or exchange of resources between organizations; those dependencies and power differentials created as a result of unequal resource exchange; the constraining effects such dependence has on organizational action; and the efforts by organizational leaders to manage dependence. With its emphasis on resource exchange, resource dependence represents a political-economy model of organizational and inter-organizational behavior.
Thanks Aida Mohammad Ali Bakeer for your feedback. I am still wondering where these theories overlaps and where they differ from each others.
Some researchers use both stakeholder theory and resource dependence theory. I am looking at the critical differences b/w these two theories.
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