Purpose – The purpose of this paper is to explore the implications of stakeholder theory for organisational development and contribute to the knowledge of operational stakeholder management. Design/methodology/approach – The paper presents a case study in a micro-enterprise where data have been collected as participant observations. Findings – Stakeholder theory suggests that to be sustainable, organisations must find a balance between different stakeholder interests. The paper presents a case study where a stakeholder model has been tested in a micro-enterprise. Results include a revised model based on the experiences from the case. The stakeholder model has been adapted to accommodate a process approach and the PDSA-cycle. Practical implications – The model can be used when wanting to develop a structured management system based on stakeholder interests. Originality/value – The paper has a vast content of originality as not as much has been written about stakeholder management from an empirical point of view as from a theoretical.