Studi ini bertujuan untuk menganalisis praktek Stakeholder Mapping pemetaan pemangku kepentingan oleh perusahaan untuk menentukan siapakah ultimate stakeholder di dalam perusahaan. Objek penulisan ini adalah PT Arwana Citramulia, Tbk. yang bergerak di industri ubin keramik. Data diperoleh melalui wawancara dengan pihak yang bersangkutan di perusahaan, kuesioner, data sekunder, dan tinjauan literatur. Studi ini merupakan studi mengenai persepsi yang berarti bahwa penggolongan stakeholder oleh satu perusahaan bisa saja berbeda dengan perusahaan yang lain. Berdasarkan penilaian atas stakeholder salience ciri khas pemangku kepentingan , ketergantungan stakeholder dengan perusahaan, power dan interest stakeholder, power dan scope stakeholder, serta posisi stratejik stakeholder dapat disimpulkan bahwa stakeholder utama dari PT Arwana Citramulia, Tbk. adalah customer, supplier, distributor, dan tukang pasang keramik. Pengelolaan hubungan dengan stakeholder memberikan manfaat berupa peningkatan kinerja finansial maupun non finansial, seperti pertumbuhan profit, goodwill, positive customer perception, dan terhindar dari masalah hukum, serta reputasi yang penting bagi PT Arwana Citramulia, Tbk. di tengah persaingan industri ubin keramik yang sangat ketat.

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The objective of this research is to analyze the Stakeholder Mapping practice in order to be able to determine the ultimate stakeholder of the company. The object of this research is PT Arwana Citramulia, Tbk., a company operates in tiles industry in Indonesia. Data were obtained through interviews with the parties concerned in the company, questionnaire, secondary data, and literature review. This study is a study of perception which means that the classification of stakeholders in one company might be different from other companies. Based on the assessment of stakeholder salience, stakeholder interdependence, stakeholder power and interest, stakeholder power and scope, and the strategic position of the stakeholders, it can be concluded that the main stakeholders of PT Arwana Citramulia, Tbk. is customer, supplier, distributor, and handyman. Managing relationships with stakeholders has provide benefits for the company by improving financial and non financial performance, such as the profit growth, increase goodwill, positive customer perception, be spared from the legal problems, and increase competitiveness of PT Arwana Citramulia, Tbk. in the global tiles industry.