This paper presents a processual perspective on stakeholder modelling, developed through a systematic review of the stakeholder networking literature. The review followed the PRISMA (Preferred Reporiting Items for Systematic Reviews and Meta-Analyses) protocol and included searches across Scopus, Web of Science, and Business Source Complete, applying inclusion criteria focused on studies addressing stakeholder networks and their dynamics. This rigorous approach enabled the identification and synthesis of diverse theoretical insights, which informed the development of a processual viewpoint that moves beyond traditional static network models. By synthetically drawing on insights from different stakeholder networking perspectives, this paper concludes four characteristics inherent to the stakeholder networking process. The first characteristic is the temporal stakeholder–stakeholder relationship, indicating that the connection between two stakeholders is not enduring but exists within a specific timeframe. The second characteristic highlights the directional aspect of stakeholder interaction, where the interaction between two stakeholders can fluctuate in strength, being either weaker or stronger according to situational dynamics. The third characteristic pertains to stakeholder power multiplicity, suggesting that the collective power of the network surpasses the sum of the individual powers of its stakeholders. Lastly, the fourth characteristic is the issue-specific network lifecycle, which divides the network into different stages, from inception to maturity, and ultimately to expiration or stabilization. In light of the procedural perspective, this paper explores the practical implications for stakeholder management strategies in addressing the complexities of multi-stakeholder dynamics.