There are two psychologies exist with company while taking care of stakeholders.
1) Instrumental View of stakeholders:
This view motivates company to take care of stakeholders because if not taken care then these stakeholders will affect our company’s profit/market price/reputation etc.
The responsibility towards the stakeholders does not come with any feeling of moral obligation.
2) The Normative view of stakeholders:
This view motivates company to take care of stakeholders because they think it’s their moral duty towards stakeholders and they should good for society.
They do what is right and what they should do as a social responsibility rather than just focusing on profits.