Numerous articles and books written on stakeholder theory generally credit Freeman as the "father of stakeholder theory. [28], According to Mansell (2013), by applying the political concept of a 'social contract' to the corporation, stakeholder theory undermines the principles on which a market economy is based. Simply select your manager software from the list below and click on download. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level. An interest- and identity-based model of stakeholder group mobilization, Treviño and Weaver’s reply to Jones and Wicks. Our answer is both “yes” and “no.” In the more than quarter-century since Freeman’s seminal contribution in 1984, this domain has acquired some of the administrative, social, and disciplinary trappings of an established field. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. In short, it attempts to address the "principle of who or what really counts. One common version of stakeholder theory seeks to define the specific stakeholders of a company (the normative theory of stakeholder identification) and then examine the conditions under which managers treat these parties as stakeholders (the descriptive theory of stakeholder salience). Exemplars of the Normative–Social Scientific Interplay. "Stakeholders and Quality Assurance in Education", Clarkson Centre for Business Ethics and Board Effectiveness, "Redefining the Corporation: Stakeholder Management and Organizational Wealth", Multistakeholder Processes for Governance and Sustainability, Politics at stake: a critical note on stakeholder analysis, Environmental, social and corporate governance, https://en.wikipedia.org/w/index.php?title=Stakeholder_theory&oldid=981945777, Articles with unsourced statements from October 2013, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 October 2020, at 09:30. [24] One influential definition defines a stakeholder in the context of higher education as anyone with a legitimate interest in education who thereby acquires a right to intervene. Stakeholder research has coalesced around a unique intellectual position: that corporations must be understood within the context of their stakeholder relationships and that this understanding must grow out of the interplay between normative and social scientific insights. Ethical views purport that firms hold soci-

[2], In fields such as law, management, and human resources, stakeholder theory succeeded in challenging the usual analysis frameworks, by suggesting that stakeholders' needs should be put at the beginning of any action. [26] In Europe, the rise of stakeholder regimes has arisen from the shift of higher education from a government-run bureaucracy to modern system in which the government's role involves more monitoring than direct control. Two … %PDF-1.3 [17], Donaldson and Preston argue that the theory has multiple distinct aspects that are mutually supportive: descriptive, instrumental, and normative. In the field of business ethics, Weiss, J.W. Sustainability reporting remains voluntary, but research suggests two distinct theories on why firms do it: ethical vs. economic. New login is not successful because the max limit of logins for this user account has been reached. 460 derive a typology of stakeholders based on the attributes of power (the extent a party has means to impose its will in a relationship), legitimacy (socially accepted and expected structures or behaviors), and urgency (time sensitivity or criticality of the stakeholder's claims). <>stream It is used as one of the frameworks in corporate social responsibility methods. This book identifies and models the groups which are stakeholders of a corporation, and both describes and recommends methods by which management can give due regard to the interests of those groups. In the traditional view of a company, the shareholder view, only the owners or shareholders of the company are important, and the company has a binding fiduciary duty to put their needs first, to increase value for them. Department of Marketing, Marquette University See all articles by this author. Mendoza College of Business, University of Notre Dame See all articles by this author. Normative Stakeholder theory contains theories of how managers or stakeholders should act and should view the purpose of organization, based on some ethical principle (Friedman 2006). This product could help you, Accessing resources off campus can be a challenge. Several case studies are offered to illustrated uses of these methods. <> Sharing links are not available for this article.
3 0 obj endobj 8 0 obj Click the button below for the full-text content, 24 hours online access to download content. Stakeholder theory instead argues that there are other parties involved, including employees, customers, suppliers, financiers, communities, governmental bodies, political groups, trade associations, and trade unions. <>stream Cybervetting job applicants on social media: the new normal?

US authors followed, for example, In 1983, Ian Mitroff published "Stakeholders of the Organizational Mind" in San Francisco. For more information view the SAGE Journals Article Sharing page. 10 0 obj Patrick E. Murphy. [22] Robert Allen Phillips distinguishes between normatively legitimate stakeholders (those to whom an organization holds a moral obligation) and derivatively legitimate stakeholders (those whose stakeholder status is derived from their ability to affect the organization or its normatively legitimate stakeholders). Normative and empirical business ethics: Separation, marriage of convenience, or marriage of necessity? [13], More recent scholarly works on the topic of stakeholder theory that exemplify research and theorizing in this area include Donaldson and Preston (1995),[14] Mitchell, Agle, and Wood (1997),[15] Friedman and Miles (2002),[16] and Phillips (2003). Johnson & Johnson’s retreat came days after one of the largest opioid manufacturers, Mallinckrodt, reached a $30m deal with the two Ohio counties. A related field of research examines the concept of stakeholders and stakeholder salience, or the importance of various stakeholder groups to a specific firm. 39–59. Our answer is both “yes” and “no.” In the more than quarter-century since Freeman’s seminal contribution in 1984, this domain has acquired some of the administrative, social, and disciplinary trappings of an established field. The nature of what constitutes a stakeholder is highly contested (Miles, 2012),[10] with hundreds of definitions existing in the academic literature (Miles, 2011).[11]. Does stakeholder theory constitute an established academic field? the site you are agreeing to our use of cookies.

Globalization, mental models, and decentering stakeholder approaches, Stakeholder mismatching: A theoretical problem in empirical research on corporate social performance, Stakeholder Theory: Seeing the Field Through the Forest, Social Issues in Management: The Distinction of Fields, Social Issues in Management as a Distinct Field: Corporate Social Responsibility and Performance, SIM as a Generator of Systematics and Theory Logics, and a Science of Design and Repair. "[20] Since the publication of this article in 1995, it has served as a foundational reference for researchers in the field, having been cited over 1,100 times.

14, p. 617; "Treccani - Portal", Social Sciences / economists / Biographies; Annual Meeting Bancoper, Bologna, 15.11.2008, Prefect Angelo Tranfaglia, "Profit and social responsibility", p. 12; "Finanza e Mercati", February 3, 2009, p. 11, Mara Consoli, "When ethics become a bargain"; New Chronicles, CNEL, Rome, 12.01.2009, Adelaide Mochi, "Socialis Prize and corporate social responsibility", sfn error: no target: CITEREFLeisyte2014 (. 2 0 obj Please check you selected the correct society from the list and entered the user name and password you use to log in to your society website. This article is part of the following special collection(s): Dialogue: Toward superior stakeholder theory, Toward a property rights foundation for a stakeholder theory of the firm, Trustworthiness as a source of competitive advantage, Stakeholders, reciprocity, and firm performance, The Toronto conference: Reflections on stakeholder theory, When competitive advantage doesn’t lead to performance: The resource-based view and stakeholder bargaining power, The stakeholder theory of the corporation: Concepts, evidence, and implications, Private security companies and institutional legitimacy: Corporate and stakeholder responsibility, A stakeholder theory of the modern corporation: Kantian capitalism, Moving to CSR4: What to pack for the trip, Practicability, paradigms and problems in stakeholder theorizing, Corporate and stakeholder responsibility: Making business ethics a two-way conversation, New academic fields as admittance-seeking social movements: The case of strategic management, Managerial discretion: A bridge between polar views of organizational outcomes, Toward a descriptive stakeholder theory: An organizational life cycle approach, An integrating framework for research in business and society: A step towards the elusive paradigm, Instrumental stakeholder theory: A synthesis of ethics and economics, Instrumental stakeholder theory and paradigm consensus in business and society: Advances on the methodological front, Proceedings of the Sixth Annual Meeting of the International Association of Business and Society, With greater power comes greater responsibility? &I��T�b��h�e}�7�����3iI�KL�Qg�RGD�3�� v�09v���Q�� 5���.0]B�\�sM ���tj��� ��@r_O(�/�&5u�*�=��X1j�)b�x�ھ��p��l�a����m�wD�OE��=)��kC
^ "Universal Biographical Encyclopedia" Treccani, 2007 Edition, Vol. Stakeholder Theory and Marketing: Moving from a Firm-Centric to a Societal Perspective Show all authors. An anticipation of such concepts, as part of Corporate Social Responsibility, appear in a publication that appeared in 1968 by the Italian economist Giancarlo Pallavicini, creator of "the decomposition method of the parameters" to calculate the results are not directly economic activity of enterprise, regarding ethical issues , moral, social, cultural and environmental. endobj


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