The current diversity and disparate needs of stakeholders present significant challenges to academic libraries globally. The constructivist grounded theory presented in this paper recognizes the guiding role of the library director in responding to this problem and the need for different strategic mechanisms for engagement with various stakeholder groups. Key contributions of this work include establishing a strategic framework for engagement with stakeholders and tentative suggestions for various types of university libraries. The implications of this research include the need for outward-looking library directors, an evidence-based approach to stakeholder engagement, and the encouragement of a customer-focused organizational culture among staff.