Stakeholder Theory: A Model for Strategic Management by Maria Bonnafous-Boucher, Jacob Dahl Rendtorff

By Maria Bonnafous-Boucher, Jacob Dahl Rendtorff

This ebook offers a tutorial creation to, and presentation and defence of stakeholder idea as a version for the strategic administration of companies and companies, in addition to of public firms and associations. the concept that of the stakeholder is mostly utilized to events that have an effect on or are suffering from the actions of personal or public firms. special from shareholders, stakeholders are these participants, entities or groups that experience a reference to the actions of a company, an organization or a company. The proposal of the stakeholder is in detail associated with a perception of the company company as an entity based on negotiated governance, within which the maximization of price for the shareholder isn't the final criterion. during this version, concerns and pursuits that aren't without delay linked to shareholders and traders, yet which transcend capital to surround the troubles of civil society, are thought of to be of vital significance. This ebook offers a extensive assessment of stakeholder idea, featuring it as a moral method of strategic administration that's either pragmatic and acceptable to constructing democratic practices inside of organisations, whereas while suggesting ways that components of a social agreement could be elaborated in the context of globalization.

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If the expectations of stakeholders are taken into account, the corporation no longer has a single objective (profit) and it becomes impossible to manage by applying an approach based on economic rationality (Jensen 2000: 236). (To this it can be objected that, in spite of its complexity, stakeholder theory serves the cause of the maximization of corporate profit). Third, from an opposing viewpoint, the theory often provides a fragmentary vision of the relationship between stakeholders and the organization.

Representations of the Corporation in Strategic Management and the Emergence of Stakeholder Theory (1980–1990) Over the course of the years, the discipline of strategic management has gradually constructed a representation of the corporation and of the legitimacy of its action. The various representations of the corporation proposed in the field of strategic management outline power relations that fashion legitimacy (Martinet and Reynaud 2001) and which, rather than being associated with a specific, all-powerful industrialist, are linked to negotiations with public opinion and institutions (legal, social, political).

Stakeholders Matter: A New Paradigm for Strategy in Society (2011: 76)) predicting (fixing objectives, organizing resources) and monitoring (ensuring that objectives are met). In the 1970s, corporations in mass consumer goods industries were faced with a decline in the market. This decline prefigured trade competitiveness problems between 1975 and 1985 and, later, in the second decade of the third millennium. As early as 1984, strategic planning no longer exactly corresponded to the needs of large companies in which strategy was situated on two levels: the ensemble, or group (corporate strategy) and individual product-market divisions (business strategy).

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