The discussion on stakeholders and how they should be given some level of consideration has been given much attention in business discussions since the 1980s, especially in relation to Corporate Social Responsibilities (CSR) (Pedersen, 2006). Such discussions have given an indication that different stakeholders have different types of relationships with the firm and with other stakeholders. This paper views such relationships as games that are engaged in by the different stakeholders who are regarded as players in these games. In every game there is a price at stake, which is what each player (in this case stakeholder), aims to win at the end of the game. The price could also be referred to as resources that are needed by the different stakeholders for their various purposes. The stakeholder who controls such resources seems to be the one in possession of the power and so controls the relationship.

As a result, this paper is a conceptual work that uses Resource Dependency and Game theories to discuss stakeholders and how they balance power in their relationship with each other. It is a conceptual paper so it comprises a literature review which will enable the theories to be explored. The conclusion is reached that every stakeholder relationship is a game that plays out with the power balance tilted in favour of the stakeholder that controls the resources, with this position being dynamic.