Organizations use the ISO/IEC 27001 standard to establish an information security management system (ISMS). This standard outlines specific security measures and requirements that organizations can implement to effectively manage their information assets. However, the effectiveness of the standard’s problem-solving capabilities has raised some questions. Consequently, there is a continuous development of new governance methods that demand fresh approaches to validate security operations and measures. In light of this, research is being conducted to examine the application and impact of ISO/IEC 27001, as well as to analyze the challenges and knowledge gaps through theoretical perspectives. By employing stakeholder theory, the focus shifts towards integrating business and social issues and exploring how non-business pressures can influence stakeholder motivations in implementing standards. Additionally, it investigates the impact of these standards on an organization’s reputation, performance, and operations. Therefore, the objective of this study is to investigate the output legitimacy of ISO/IEC 27001 from the perspective of stakeholder expectations. To accomplish this, an interview-based study was conducted, involving relevant stakeholders engaged in information security management within private organizations in Sweden. The findings reveal eight key information security objectives. The results indicate that the level of output legitimacy of the standard varies across these objectives, ranging from high to medium to low. To achieve a high level of output legitimacy for ISO/IEC 27001, stakeholders must understand that the standard is not solely a technical document. Furthermore, stakeholders need to possess the appropriate knowledge and skills in information security to effectively navigate their work while leveraging the support provided by the standard.