Stakeholder theory has gained currency in the business and society literature in recent years in light of its practicality from the perspective of managers and scholars. In accounting for the recent … Expand. Evolution of the conception of business value management — resource-based , process-based and relational view. The objective of the paper is to present the key development stages of business value management. It is a theoretical study based on literature review that includes a resource-based, process-based … Expand.
Stakeholder value is … Expand. Stakeholder theory has evolved from a corporate-centric perspective into a more comprehensive research field which addresses business-society relations from various points of views.
To reflect on and … Expand. We use convergent elements of major ethical theories to create a typology of corporate stakeholder cultures—the aspects of organizational culture consisting of the beliefs, values, and practices that … Expand. Stakeholder Inclusion and Accounting for Stakeholders. Yet … Expand. View 2 excerpts, cites background. Associating the concept of civil society with stakeholder theory has become a common practice. The point of view put forward here attribute paternity of the stakeholder theory essentially to Freeman … Expand.
Highly Influenced. View 9 excerpts, cites background. Originating in the Anglo-American management literature, stakeholder thinking embraces a set of common reasoning and rests on a range of assumptions that pay little attention to the institutional … Expand. This article is intended to enhance the position of stakeholder theory as an integrating theme for the business and society field.
It offers an instrumental theory of stakeholder management based on … Expand. Strategic Management: A Stakeholder Approach. Part I. The Stakeholder Approach: 1. Managing in turbulent times 2. The stakeholder concept and strategic management 3. Time Traveler for stakeholder The first known use of stakeholder was in See more words from the same year. Style: MLA. English Language Learners Definition of stakeholder.
Legal Definition of stakeholder. Get Word of the Day daily email! Test Your Vocabulary. Test your visual vocabulary with our question challenge! A daily challenge for crossword fanatics. Love words? Need even more definitions? Merriam-Webster's Words of the Week - Jan. Ask the Editors 'Everyday' vs.
A stakeholder is an individual or entity that has an interest in a business because its decisions affect them. For instance, an employee is a stakeholder as their wages are dependent on how successful the company is. If the company does well, they may get a pay rise or a bonus.
However, if it is making loses — their job may be on the line. A stakeholder has an interest in the success or failure of a business as it will have a direct or indirect impact on them. This can come in the form of internal stakeholders — those who are under the control of the company, and external stakeholders — those who are not employed or own the company. Internal stakeholders include employees, owners, shareholders, and managers. They are simply anyone within the organization.
By contrast, external stakeholders include suppliers, governments, customers, trade unions, and creditors. These are people and organizations that are outside of the business. There are two main types of stakeholders — internal and external. Internal stakeholders refer to those who have a direct involvement in the company. This may be through employment or ownership. External stakeholders are those who have an indirect involvement with the company. This may be through a business agreement, an interest in the products, or an interest in its impact on the wider community.
Employees have a direct interest in how the business performs as it has a consequential impact on them. For instance, if business is bad, employees may be at risk of losing their jobs. When business is good, they may be in line for a nice pay increase or a bonus. The owners have many interests, but the number one is profit.
After all, without profit, the business would not be able to compete. In turn, the owner has an interest in factors that contribute to profit. For example, employee morale and productivity, and the long-term business plan. Is the business investing in the right areas, lowering costs, and improving profit margins. Company management in the form of executive managers and the board of directors have very different incentives from both the owners and employees.
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