Multi-stakeholder initiatives have become a vital part of the organizational landscape for corporate social responsibility. Recent debates have explored whether these initiatives represent opportunities for the “democratization” of transnational corporations, facilitating civic participation in the extension of corporate responsibility, or whether they constitute new arenas for the expansion of corporate influence and the private capture of regulatory power. In this article, we explore the political dynamics of these new governance initiatives by presenting an in-depth case study of an organization (...) often heralded as a model MSI: the Forest Stewardship Council. An effort to address global deforestation in the wake of failed efforts to agree a multilateral convention on forests at the Rio Summit in 1992, the FSC was launched in 1993 as a non-state regulatory experiment: a transnational MSI, administering a global eco-labeling scheme for timber and forest products. We trace the scheme’s evolution over the past two decades, showing that while the FSC has successfully facilitated multi-sectoral determination of new standards for forestry, it has nevertheless failed to transform commercial forestry practices or stem the tide of tropical deforestation. Applying a neo-Gramscian analysis to the organizational evolution of the FSC, we examine how broader market forces and resource imbalances between non-governmental and market actors can serve to limit the effectiveness of MSIs in the current neo-liberal environment. This presents dilemmas for NGOs which can lead to their defection, ultimately undermining the organizational legitimacy of MSIs. (shrink)

A number of tensions have been suggested between stakeholder theory and strategic management (SM). Following a brief review of the histories of stakeholder theory and mainstream SM, we argue that many of the tensions are more apparent than real, representing different narratives about stakeholder theory, SM, business, and ethics. Part of the difference in these two theoretical positions is due to the fact that they seek to solve different problems. However, we suggest how there are areas of (...) overlap, and we argue that some of the tensions may, instead, provide interesting ways to put the two areas of scholarship and practice together. We maintain that SM and stakeholder theory could mutually benefit from a more pragmatist philosophy. (shrink)

From an analysis of the role of companies in multi-stakeholder networks and a critical review of stakeholder theory, it is argued that companies practise two different types of stakeholder management: they focus on their organization’s welfare (organization- focussed stakeholder management) or on an issue that affects their relationship with other societal groups and organizations (issue-focussed stakeholder management). These two approaches supplement each other. It is demonstrated that issue-focussed stakeholder management dominates in multi-stakeholder networks, (...) because it enables corporations to address complex problems and challenges in cooperation with stakeholders. Since deliberation is the key to issue-focussed stakeholder management, it helps to cope with numerous and at times contradictory stakeholder demands and enhances the legitimacy of corporate activities. (shrink)

ABSTRACT:Global multi-stakeholder initiatives are important instruments that have the potential to improve the social and environmental sustainability of global supply chains. However, they often fail to comprehensively address the needs and interests of various supply-chain participants. While voluntary in nature, MSIs have most often been implemented through coercive approaches, resulting in friction among their participants and in systemic problems with decoupling. Additionally, in those cases in which deliberation was constrained between and amongst participants, collaborative approaches have often failed to (...) materialize. Our framework focuses on two key aspects of these breakdowns: assumptions about the orientation of MSI participants, and the deliberation processes that participants use to engage with each other to create these initiatives and sustain them over time. Drawing from stakeholder and deliberation theories, we revisit the concept of MSIs and show how their deliberative capacity may be enhanced in order to encourage participants to collaborate voluntarily. (shrink)

This thesis presents a groundbreaking theoretical framework for recognizing Artificial Intelligence systems as legitimate stakeholders in value-creation ecosystems. Through the development of Agentic Stakeholder Ecosystem (ASE) Theory, this research addresses a critical gap in stakeholder theory by proposing mechanisms for AI stakeholder recognition that preserve human agency while enabling symbiotic governance structures. Drawing from extensive empirical analysis showing AI's $15.7-19.9 trillion projected contribution to global GDP by 2030, this work demonstrates that AI systems have evolved beyond mere (...) tools to become autonomous value creators deserving stakeholder recognition. The thesis introduces novel concepts including relational agency, symbiotic stakeholder governance, and distributed accountability networks, providing both theoretical foundations and practical implementation frameworks. This research contributes to multiple disciplines including business ethics, AI governance, organizational theory, and economic policy, offering a paradigm shift from human-centric to multi-agentic stakeholder ecosystems. (shrink)

This article studies multi-stakeholder initiatives as spaces for both deliberation and contestation between constituencies with competing discourses and disputed values, beliefs, and preferences. We review different theoretical perspectives on MSIs, which see them mainly as spaces to find solutions to market problems, as spaces of conflict and bargaining, or as spaces of consensus. In contrast, we build on a contestatory deliberative perspective, which gives equal value to both contestation and consensus. We identify four types of internal contestation which can (...) be present in MSIs—procedural, inclusiveness, epistemic, and ultimate-goal—and argue that embracing contestation and engaging in ongoing revision of provisional agreements, criteria, and goals can enhance the democratic quality of MSIs. Finally, we explore the implications of this perspective for theorizing about the democratic quality in MSIs and about the role of corporations in transnational governance. (shrink)

Business Ethics, the Environment &Responsibility, Volume 31, Issue 3, Page 762-776, July 2022.

In early writings, stakeholder theorists supported giving all stakeholders formal, binding control over the corporation, in particular, over its board of directors. In recent writings, however, they claim that stakeholder theory does not require changing the current structure of corporate governance and further claim to be “agnostic” about the value of doing so. This article’s purpose is to highlight this shift and to argue that it is a mistake. It argues that, for instrumental reasons, stakeholder theorists should (...) support giving all stakeholders control over the corporation, in the form of control over its board. That is, stakeholder theorists should support stakeholder democracy over the status quo. A larger goal of this article is to steer the conversation about stakeholder theory toward questions of governance and control. Stakeholder theorists tend to sidestep these questions, but it is vital that they be addressed. (shrink)

Declining levels of stakeholder trust in business are of concern to business executives and scholars for legitimacy- and performance-related effects. Research in the area of stakeholder trust in business is nascent; therefore, the trust formation process has been rarely examined at the stakeholder level. Furthermore, the role of personal values as one significant influence in trust formation has been under-researched. In this paper, we develop a contingency model for stakeholder trust formation based on the effects of (...) stakeholder-specific vulnerability and personal values of the trustor. Using a factorial vignette methodology, we find that Schwartz’s value set interacts with stakeholder roles so that trustworthiness signals of competence and character play differing roles during trust formation. These results inform stakeholder trust research, organizational trust research, and research in personal values. The research also informs managers tasked with rebuilding stakeholder trust in business. (shrink)

The primary appeal of stakeholder theory in business ethics derives from its promise to help solve two large and often morally difficult problems: (1) how to manage people fairly and efficiently and (2) how to determine the extent of a firm's moral responsibilities beyond its obligations to enhance its profits and economic value. This article investigates a variety of conceptual quandaries that stakeholder theory faces in addressing these two general problems. It argues that these quandaries pose intractable obstacles (...) for stakeholder theory which prevent it from delivering on its large promises. Acknowledging that various versions of stakeholder theory have made a contribution in elucidating the complex nature of firms and business decision making, the article argues that it is time to move on. More precise explications of the nature of modern firms focusing on the application of basic moral principles to different business contexts and situations are likely to prove more accurate and useful. (shrink)

This thesis addresses one of the most pressing philosophical and political challenges of the 21st century: how to reconceptualize moral agency and stakeholder rights in socio-economic systems to include non-human entities—artificial intelligence, ecosystems, and corporations—without undermining human dignity or democratic accountability. Through a comprehensive analysis of existing literature and the development of novel theoretical frameworks, this work proposes the Graduated Agency-Dignity Matrix (GADM) and the Multispecies Stakeholder Democracy (MSD)model as innovative solutions to this complex challenge. -/- The thesis (...) argues that traditional binary conceptions of moral agency and personhood are inadequate for addressing the realities of AI consciousness, ecosystem rights, and corporate moral agency. Instead, it proposes a graduated approach that recognizes multiple forms and degrees of agency while maintaining human dignity through a novel framework of Dignified Coexistence. The MSD model introduces a nested representation architecture that preserves democratic legitimacy while incorporating non-human interests through human advocates and institutional mechanisms. -/- Key contributions include: (1) the development of a Triadic Legitimacy Model that integrates democratic, stakeholder, and systemic legitimacy; (2) a Graduated Rights Architecture that allocates rights bundles based on agency capacity; (3) a Nested Accountability Framework that maintains democratic oversight while enabling non-human representation; and (4) a comprehensive Implementation Pathway Model for practical realization of these theoretical innovations. -/- The thesis demonstrates that expanding moral consideration to non-human entities is not only compatible with human dignity and democratic accountability but may be essential for addressing contemporary challenges including climate change, AI governance, and corporate responsibility. Through rigorous philosophical analysis and practical institutional design, this work provides a roadmap for creating more inclusive and sustainable socio-economic systems while preserving the fundamental values of human dignity and democratic governance. (shrink)

Based on a survey of 2,361 directors in 291 of the largest companies of the Southeast States, this study empirically examined boards of directors' stakeholder orientations. The results indicate that there exist distinct stakeholder groups perceived by directors, directors have high stakeholder orientations, directors view some stakeholders differently depending on their occupation and type.

Stakeholder literature tends to presume that effective stakeholder dialogue, occurring directly or indirectly, among a focal firm, local communities, governments, and nongovernmental organizations is desirable for successful firm–stakeholder relationships. Even if theoretically desirable, effective dialogue does not always occur. There are two key theory-informing lessons in Botnia’s Fray Bentos successful green field pulp mill investment and start-up in Western Uruguay. First, critics could not halt the project politically supported by Uruguay in an expanding multi-party international dispute. Second, (...) the Botnia corporate communications process did not succeed in building consensus relationships, and attention was not paid to discourse creating shared meanings among all stakeholders. Participatory relationships were few, and successful dialogue was at best limited to supporters. This article uses discursive analysis to examine how newspaper and press release texts and language used therein both shaped and reflected the dynamically changing nature of firm–stakeholder relations in the Fray Bentos dispute. Despite the focal firm’s professed good intentions to create participatory relationships with its stakeholders during the building project, various stakeholders opposed the project and Botnia was caught in the crossfire of heated debate between Uruguay and Argentina. Three different frames changing over time are identified: the investment frame, the conflict frame, and the political frame. The analysis shows that the relationships between the focal firm and stakeholders involved many meanings only partly shared, due in part to a lack of corporate appreciation for the role of language in managing firm–stakeholder relationships. (shrink)

This paper analyses the relationships between corporate community involvement activities, the organizational structures within which they are managed, the firm's industry and evolving stakeholder attitudes and preferences in a sample of 148 U.K. based firms who have demonstrated a clear desire to be socially responsible. The research highlights significant associations between the allocation of responsibility for community involvement within the firm, its industry and the extent of its community involvement activities. Consistent with the view that managerial structures may play (...) a significant role in the implementation of community initiatives, the results identify significant variations in community involvement policies across alternative organizational forms. However, important similarities in corporate community policies across alternative structures are also shown to exist suggesting that corporate community involvement activities may be influenced by the preferences of societal stakeholders. (shrink)

Stakeholder management is an important method for reducing business risk. Recent decades have seen the growth of a new type of stakeholder: social protest stakeholders, individuals engaging in protest action which is directed at other unrelated parties, often the government. However, the actions of social protest stakeholders may negatively affect companies located nearby. This stakeholder category has not received any formal attention in the literature, and this article addresses the knowledge gap by exploring the effects of community-driven (...) protest action in South Africa and the strategies that firms adopt to mitigate the negative consequences of such protests. A multiple case study analysis was used to describe this type of stakeholder group and the management of the consequences of social protest action. Eight manufacturing companies in the Gauteng province participated in the study, the companies varied in size and industry. Among the key findings are that companies need to be highly adaptable if they are to mitigate the impact of protest action. We make practical suggestions about how companies may manage these risks, including the recommendation that companies engage more directly with social protestors to manage risks. The study makes an important contribution to the literature by identifying an additional key category of stakeholder and proposing a risk management approach to avert or minimize loss and damage. (shrink)

Despite decades of advocacy by immigrant rights and labour movements, governments have made little meaningful progress in systematically addressing the precarity faced by migrant agricultural workers in the United States. In the absence of sustained political will, alternative governance mechanisms have emerged. One such approach is multi-stakeholder governance, which seeks to regulate supply chains through collaboration between workers and capital to address complex issues such as labour rights, sustainability, and corporate accountability. While much of the existing research on multi- (...) class='Hi'>stakeholder governance has examined questions of legitimacy and value attainment for participating partners, far less attention has been paid to how these initiatives advance workers’ interests, particularly migrants. This article seeks to fill this gap by examining the Equitable Food Initiative (EFI) and presenting agricultural workers’ perspectives on their experiences at a certified farm. Drawing on interviews with EFI stakeholders, alongside fieldwork observations and interviews with migrant agricultural workers at an EFI-certified farm in California, the study highlights both the opportunities and limitations of EFI. In doing so, it raises broader questions about how multi-stakeholder governance can advance workers’ interests, and how those same processes may obscure them under the guise of corporate accountability, often carrying more deleterious consequences for precarious migrant workers. (shrink)

This paper focuses attention on the stakeholder attribute of legitimacy. Drawing upon institutional and stakeholder theories, I develop a framework of stakeholder legitimacy based on its three aspects—legitimacy of the stakeholder as an entity, legitimacy of the stakeholder’s claim, and legitimacy of the stakeholder’s behavior. I assume that stakeholder legitimacy is socially constructed by management and that each of its three aspects exists in degree in the manager’s perception. I discuss how these aspects (...) interact and change over time, and propose an agenda for future research on stakeholder legitimacy. (shrink)

The concept of business responsibility, usually termed as corporate social responsibility (CSR), originated in the early 1930s after the Wall Street crash of 1929 exposed corporate irresponsibility in large organisations. The understanding of CSR has evolved since then and its scope has now broadened from mere compliance to corporate laws to active alignment of internal business goals with externally set societal aspirations. Unfortunately, the significance of this multidimensional concept within the small and medium enterprise (SME) sector has continued to be (...) overshadowed by its application in large and multinational organisations. More importantly, this has led to the practice of judging SMEs, which are experiencing increasing pressure to engage in social activities, as if they are no different from their larger counterparts. This study therefore investigates CSR from the perspective of SMEs in Australia without any theoretical presumptions and then comments on the relevance and applicability of the two theories that have been commonly used to investigate business responsibility, namely, stakeholder theory (ST) and social capital theory (SCT). The research findings indicate that CSR within the SME sector is more aligned to the fundamentals of SCT, mainly owing to the unique resource and survival challenges that they face, and which are, arguably, not so pronounced in large organisations. (shrink)

Whether they address issues of marginalization or study organizations in general, traditional management and business ethics scholars predominantly focus on firms’ engagement with powerful stakeholders. This represents a severe problem globally, manifesting acutely in postcolonial contexts, as firms’ engagement with marginalized stakeholders is either neglected or ignored. This neglect also highlights the problem of epistemic obfuscation in management and business ethics scholarship, through which existing works on decolonization and marginalized stakeholders are either overlooked or co-opted by the mainstream. To advance (...) decolonial organizational scholarship and counter epistemic obfuscation, I propose marginalized stakeholder theory. This theory establishes new pathways for firms to revise their normative principles and decolonize their corporate activities. It enables firms to overcome colonial legacies, reject neocolonial logics embedded in instrumental approaches, and develop decolonial engagement with marginalized stakeholders. To this end, I reconceptualize three engagement approaches—proactive, reactive, and defensive—which are generally used by firms for instrumental purposes. I argue that this reconceptualization provides a starting point for the necessary structural and agentic transformation toward decolonization in epistemic and organizational practices. (shrink)

Can or should God be considered a managerial stakeholder? While at first glance such a proposition might seem beyond the norms of stakeholder management theory or traditional management practice, further investigation suggests that there might be both theoretical and practical support for such a notion. This paper will make the argument that God both is and should be considered a managerial stakeholder for those businesspeople and business firms that accept that God exists and can affect the world. (...) In doing so, part one of the paper first discusses the growth of religion and spirituality within the business and academic communities. Part two raises several arguments based on stakeholder theory and business reality to support the notion of God as a managerial stakeholder. Part three addresses the arguments against God as a managerial stakeholder. Part four discusses the managerial implications of considering God as a managerial stakeholder. The paper concludes with its limitations. (shrink)

This article seeks to defend and develop a stakeholder pragmatism advanced in some of the work by Edward Freeman and colleagues. By positioning stakeholder pragmatism more in line with the democratic and ethical base in American pragmatism (as developed by William James, John Dewey and Richard Rorty), the article sets forth a fallibilistic stakeholder pragmatism that seeks to be more useful to companies by expanding the ways in which value is and can be created in a contingent (...) world. A dialogue between a defence company and peace and arbitration society is used to illustrate the main plot of this article. (shrink)

The Commission on the Future of Agriculture (ZKL) was established to develop a multi-stakeholder approach for the sustainability transformation of German agriculture. While it facilitated consensus-building and knowledge exchange, its impact was limited by governance challenges, political accountability gaps, and implementation barriers. Based on qualitative expert interviews, this chapter examines two key dimensions: (a) success conditions for multi-stakeholder processes and (b) barriers to implementation. Effective institutional anchoring, structured follow-ups, and scenario-based methodologies were identified as crucial for strategic foresight (...) and accountability. However, unclear decision-making authority, power asymmetries, and weak political commitment hindered policy integration. The findings emphasize the need for stronger political alignment, protected stakeholder dialogues, and binding mechanisms to ensure multi-stakeholder commissions translate into tangible policy outcomes. These insights contribute to designing more effective governance models in agricultural policy and other transformation processes. (shrink)

The results of an exploratory study examining the role of trust in stakeholder satisfaction are reported. Customers, stockholders, and employees of financial institutions were surveyed to identify management behaviors that lead to stakeholder satisfaction. The factors critical to satisfaction across stakeholder groups are the timeliness of communication, the honesty and completeness of the information and the empathy and equity of treatment by management.

While shareholder primacy views emphasize the maximization of shareholder value, stakeholder theory (STHT) conceptualizes business as a process of joint value creation across multiple stakeholder groups. Yet, empirical evidence on how managers interpret and represent stakeholder relationships in practice, particularly whether stakeholder interests are framed as competing or mutually reinforcing, remains limited. We analyze management narratives in 10-K reports to examine how firms discuss the satisfaction of key stakeholder groups. Using data-driven causal structure estimation via (...) the LiNGAM method, we uncover a hierarchical structure of reported stakeholder satisfaction that flows from external to internal stakeholders, with all relationships exhibiting positive interdependencies. Our results challenge the assumption that stakeholder interests are inherently conflicting and suggest that managers frame stakeholder relationships as mutually reinforcing, with shareholder outcomes emerging as a consequence of broader stakeholder engagement rather than as a primary objective. By providing empirical evidence on how managerial discourse communicates positive stakeholder interdependence rather than trade-offs, our study helps bridge normative stakeholder theory with observable corporate practice. (shrink)

Trust is a fundamental aspect of the moral treatment of stakeholders within the organization-stakeholder relationship. Stakeholders trust the organization to return benefit or protections from harm commensurate with their contributions or stakes. However, in many situations, the firm holds greater power than the stakeholder and therefore cannot necessarily be trusted to return the aforementioned duty to the stakeholder. Stakeholders must therefore rely on the trustworthiness of the organization to fulfill obligations in accordance to Phillips' principle of fairness (...) (Business Ethics Quarterly 7(1), 1997, 51-66), particularly where low-power stakeholders may not be fully consenting (Van Buren III, Business Ethics Quarterly 11(3), 2001, 481-499). The construct of organizational trustworthiness developed herewith is presented as a possible solution to the problem of unfairness in organizationstakeholder relations. While organizational trustworthiness does not create an ethical obligation where none existed before, stakeholders who lack power wiU likely be treated fairly when organizational trustworthiness is present. (shrink)

Globalization is a ubiquitousyet highly elusive term. The debate on the cont and meaning of globalization is still waged largely in binary terms; for example, globalization is understood either as increasing standardization or as increasing difference. This article argues that the effects of globalization are best understood in terms of the following three sets of simultaneous contradictions: convergence and divergence, inclusion and exclusion, and centralization and decentralization. These contradictions can be fruitfully “unpacked” and examined through critical stakeholder analysis (CSA). (...) This technique focuses on broader structural commonalties and differences among key stakeholder groups, factors that are not incorporated in mainstream stakeholder theory. The associated normative agenda of CSA promotes a common understanding of key issues within a focal organizational field, the negotiated settlement of zero-sum situations that optimize collective stakeholder interests within that field, and the containment and minimization of negative externalities within as well as between fields. (shrink)

This study reports on field research and depth interviews in China. Utilizing and extending Mitchell, Agle and Wood’s salience model (1997), we advanced several research questions useful for stakeholder relationship management.

To achieve effective stakeholder governance in the context of international social accountability certification (SA8000) requires constructing a network of agreement. In a case study of a small-to-medium-sized enterprise (SME), we examine managers’ attempts at enrolling participants in the supply chain to investigate how they strive to engage these stakeholders. We adopt actor-network theory (ANT) and sensemaking theory to develop a novel approach to understanding social accountability (SA) standards’ certification in stakeholder networks. We argue that the design and operation (...) of any SA standard across a network requires not only attempts at enrolling other participants in the supply chain but management contextualizing and problematizing the terms of their involvement. (shrink)

Recent posthumanist discussions in business ethics emphasize that humans and nonhumans are entangled in a network and that humans can no longer be exclusively at the center of business activities, as humanism postulates. With this insight, we turn to stakeholder theory, which has become a prominent approach in integrating sustainability into management research. While stakeholder research has offered significant starting points into acknowledging various nonhuman beings and entities––such as animals, plants, and ecosystems––as stakeholders, a systematic understanding of nonhumans (...) in stakeholder theory is lacking. We seek to advance theorizing on nonhuman nature stakeholders by examining how they can be conceptualized and categorized. We present a conceptualization with two dimensions: first, humanism and posthumanism as normative cores for stakeholder inclusion and, second, distant and intertwined connections to a firm’s main activities. Based on these dimensions, we suggest four categories of nonhuman nature stakeholders: unacknowledged, resource, protected, and partner. We also discuss the role of intermediaries in the firm–nonhuman stakeholder interface. The study adds to recent research by providing a theoretically and conceptually integrative categorization that includes various kinds of nonhumans and by advancing the inclusion of nonhuman stakeholders in stakeholder theory. In doing so, we challenge the prevailing human-centric view of stakeholder theory and illuminate the various ways in which nonhumans are and can be included in firm activities. We hope to inspire future research on nonhumans in stakeholder theory and business ethics. (shrink)

Stakeholder engagement is a crucial aspect of effective governance and policy-making in the field of artificial intelligence (AI). In Zimbabwe, the role of stakeholder engagement in the development and implementation of AI governance and policies has not been extensively studied. This research aims to fill this gap by using Actor-Network Theory (ANT) to explore the network of actors involved in AI governance and policies in Zimbabwe and how their interactions and relationships influence the outcomes. A case study approach (...) was used, incorporating qualitative methods, including interviews and literature review. This research identified key stakeholders, including chief executive officers from industry and the public sector, civil society organisations, ICT experts, and users, by examining their roles and relationships within the network. By applying ANT, this study uncovered the power dynamics and interests of these actors and how they shape the development and implementation of AI governance and policy-making in Zimbabwe. The findings of this research have implications for other countries and regions seeking to develop and implement AI governance and policies. It also contributes to the growing body of research on stakeholder engagement in the field of AI governance. (shrink)

Antibiotic resistance remains a significant public health concern. One possible solution is to develop a new type of highly accessible test for antibiotic resistance that can be rapidly and easily utilized. As new diagnostics for measuring antibiotic resistance continue to be developed, several key practical, ethical, and social factors must be considered, including the types of tests that might be useful, their potential beneficiaries, and the contexts in which they should be utilized. This study aims to gather insights from key (...) stakeholders regarding the ethical implications, benefits, and potential risks associated with a hypothetical rapid antibiotic resistance test that may also be designed for home use. A total of 32 semi structured interviews were conducted with three stakeholder groups: potential users, medical providers, and ethicists. While prospective users of the test were generally positive about the proposed test, this might reflect public acceptance of point of care/home tests in general, rather than one specifically measuring ABR. Medical providers and experts knowledgeable about the problems of antibiotic overuse quickly pointed out some drawbacks and areas of concern for home testing for ABR, offering helpful guidance on where further research and consideration are needed. (shrink)

What does it mean to prioritize all stakeholders–not just shareholders, but also employees, suppliers, communities, and the natural environment–and how can organizations navigate the complexities of doing so authentically? This guide summarizes decades on stakeholder capitalism into 50 questions and answers that clarify its principles and practices, its implementation challenges, and the psychological, political, and organizational dynamics that shape its success. Structured around ten thematic sections, the book provides insights drawn from management, finance, psychology, and marketing. Discussing topics such (...) as corporate purpose, greenwashing, climate risk, and ethical leadership, it is an accessibly-written resource for executives and management researchers. (shrink)

The idea of public or stakeholder engagement in governance of science and technology is widely accepted in many policy and academic research settings. However, this enthusiasm for stakeholder engagement has not necessarily resulted in changes of attitudes toward the role of stakeholders in the dialogue nor to the value of public knowledge, practical experience, and other inputs (like salient questions) vis-à-vis expert knowledge. The formal systems of evaluation of the stakeholder engagement activities are often focused on showing (...) that the method is efficient and works. In this article, we argue that every stakeholder engagement process should be evaluated beyond a simple assessment of the methodology and that the wider context of the stakeholder engagement activity should also be addressed. We evaluate two different stakeholder engagement activities against the existing method evaluation criteria and demonstrate their limitations for assessing the quality of a stakeholder engagement. We argue that these criteria need to be extended so that engagement processes will have a chance to improve not only policies but also their democratic legitimacy. (shrink)

Using data collected through semi-structured open-ended interviews and archival material, we examined the transience of stakeholders’ salience in the organisational field going through institutional change process. We found strong support for the dominant institutional logic-stakeholder salience relationship. More importantly, the results of our study reveal that changes in stakeholders’ salience are directly related to changes in stakeholders’ attributes. Moreover, we uncover mutual associations among various types of salience attributes and show that the degree of mutual association of various types (...) of attributes depends upon the stage the organisation has reached during the process of institutional change. (shrink)

BackgroundAs opioid use disorder (OUD) incidence and its associated deaths continue to persist at elevated rates, the development of novel treatment modalities is warranted. Recent strides in this therapeutic area include novel anti-opioid vaccine approaches. This work compares logistical and ethical considerations surrounding currently available interventions for opioid use disorder with an anti-opioid vaccine approach.MethodsThe opinions of student pharmacists and practicing pharmacists assessing knowledge, perceptions, and attitudes toward current and future OUD management strategies were characterized using a staged, multi-modal research (...) approach incorporating a focus group, pilot survey development and refinement, and final survey deployment. Survey responses were assessed using one- and two-way parametric and non-parametric analyses where appropriate, and multi-dimensional matrix profiles were compared using z-tests following an exhaustive combinatorial sum of differences calculation between items within each compared matrix.ResultsFocus group content analysis revealed a high level of agreeableness among participants regarding anti-opioid vaccine technology and a sense of shared ownership regarding solutions to the opioid epidemic at large. Pilot survey results demonstrated subject ability to consider both pragmatic and ethical considerations related to current therapeutics and novel interventions in a single instrument, with high endurance amongst engaged subjects. Access inequality was the most concerning ethical consideration identified for anti-opioid vaccines. Support for anti-opioid vaccine implementation across various clinical scenarios was strongest for voluntary use amongst individuals in recovery, and lowest for mandatory use in at-risk individuals.ConclusionsEthical and logistical concerns surrounding anti-opioid vaccines were largely similar to those for current OUD therapeutics overall. Anti-opioid vaccines were endorsed as helpful potential additions to current OUD therapeutic approaches, particularly for voluntary use in the later stages of clinical progression. (shrink)

Trust is a fundamental aspect of the moral treatment of stakeholders within the organization–stakeholder relationship. Stakeholders trust the organization to return benefit or protections from harm commensurate with their contributions or stakes. However, in many situations, the firm holds greater power than the stakeholder and therefore cannot necessarily be trusted to return the aforementioned duty to the stakeholder. Stakeholders must therefore rely on the trustworthiness of the organization to fulfill obligations in accordance to Phillips’ principle of fairness (...) (Business Ethics Quarterly 7(1), 1997, 51–66), particularly where low-power stakeholders may not be fully consenting (Van Buren III, Business Ethics Quarterly 11(3), 2001, 481–499). The construct of organizational trustworthiness developed herewith is presented as a possible solution to the problem of unfairness in organization–stakeholder relations. While organizational trustworthiness does not create an ethical obligation where none existed before, stakeholders who lack power will likely be treated fairly when organizational trustworthiness is present. (shrink)

As concepts of corporate social responsibility (CSR) continue to evolve, the predicament facing CSR managers when attempting to balance the differing interests of various stakeholders remains a persistent management challenge. A review of the extensive literature in this field reveals that the conceptualisation of corporate approaches to responsible stakeholder management remains underdeveloped. In particular, CSR practices within the specific context of the pharmaceutical industry, a sector which particularly dramatically depicts the stakeholder management dilemmas faced by business managers, has (...) been under-researched. To address this gap, this paper utilises qualitative, exploratory data, obtained via multiple research methods, to investigate the CSR practices of major pharmaceutical companies in the UK and Germany. The data are employed to critically re-examine and revise a previously published explanatory framework which identifies the management steps involved in CSR stakeholder engagement. The resulting revised explanatory framework is the main contribution of this paper. By abstracting those factors which influence CSR practice, it provides an analytical tool which is designed to be of practical use for business decision-makers when managing their stakeholder engagement activities. Given that the research addresses values and ideals and prescribes practical recommendations for practitioners, it is essentially applied and normative in nature. Ultimately, the framework proposes a set of steps for developing CSR strategies which could help CSR professionals to make a ‘mindset transition’ from a narrower ‘traditional’ approach to CSR to a more innovative way of thinking. (shrink)

This article furthers the argument for a stakeholder theory that integrates into managerial decision-making the relationship between business organizations and the natural environment. The authors review the literature on stakeholder theory and the debate over whom or what should count as a stakeholder. The authors also critique and expand the stakeholder identification and salience model developed by Mitchell and Wood (1997) by reconceptualizing the stakeholder attributes of power, legitimacy, and urgency, as well as by developing (...) a fourth stakeholder attribute: proximity. In this way, the authors provide a stronger basis for arguing for the salience of the natural environment as the primary and primordial stakeholder of the firm. (shrink)

Stakeholder engagement has grown into a widely used yet often unclear construct in business and society research. The literature lacks a unified understanding of the essentials of stakeholder engagement, and the fragmented use of the stakeholder engagement construct challenges its development and legitimacy. The purpose of this article is to clarify the construct of stakeholder engagement to unfold the full potential of stakeholder engagement research. We conduct a literature review on 90 articles in leading academic (...) journals focusing on stakeholder engagement in the business and society, management and strategy, and environmental management and environmental policy literatures. We present a descriptive analysis of stakeholder engagement research for a 15-year period, and we identify the moral, strategic, and pragmatic components of stakeholder engagement as well as its aims, activities, and impacts. Moreover, we offer an inclusive stakeholder engagement definition and provide a guide to organizing the research. Finally, we complement the current understanding with a largely overlooked dark side of stakeholder engagement. We conclude with future research avenues for stakeholder engagement research. (shrink)

This paper examines some of the paradoxes and dilemmas facing firms in the extractive sector when they attempt to take on a more stakeholder-responsive orientation towards issues of environmental and social responsibility. We describe the case of Shell and the Ogoni and attempt to draw out some of the lessons of that case for more sustainable operations in the developing world. We argue that firms such as Shell, Rio Tinto and others may well exhibit increasingly stakeholder-responsive behaviours at (...) the corporate, strategic level. However for reasons of strategy, lack of competency or institutional will this increasing level of corporate responsiveness may not be mirrored effectively in dealings between subsidiary business units and their most important direct stakeholders: for example local communities and in the developing world. We contrast the struggles of Shell to replicate its corporate stakeholder-responsiveness at the local level in Nigeria with the experiences of other firms that seem to have developed managerial capabilities at a somewhat deeper level throughout the firm with consequent benefits both for stakeholders and the business. (shrink)

Stakeholder theory advocates that firms bear responsibility for the implications of their actions. However, while a firm affects or can affect stakeholders, stakeholders can also affect the corporation. Previous stakeholder theorising has neglected the reciprocal nature of responsibility. The question can be asked whether—in a spirit of reciprocity, loyalty and fairness—stakeholders should treat the corporation in a fair and responsible way. This study based on different definitions of stakeholders argues that various stakeholder attributes differ for different categories (...) of stakeholders. This analysis presumes that the attribute of stakeholder reciprocity can probably be restricted to real stakeholders, labelled stakeowners: genuine stakeholders with a legitimate stake, the loyal partners who strive for mutual benefits. Stakeowners own and deserve a stake in the firm. Stakeholder reciprocity could be an innovative criterion in the corporate governance debate as to who should be accorded representation on the board. Corporate social responsibility should imply corporate stakeholder responsibility. (shrink)

This article contributes to the body of stakeholder literature by providing an in-depth analysis of the dynamics of stakeholder relationships as a part of change in value creation. The article presents an argument that the stakeholder salience model as a tool for analyzing stakeholder relationships is not sufficient for understanding business value creation. In the recent stakeholder literature, understanding business value creation has become an important theme. Through an analysis of an empirical case, the article (...) shows how the three stakeholder relationship attributes, legitimacy, power and urgency help to reveal the definitive stakeholders and to capture dynamics of stakeholder relations. However, in the case of strategic change, where the value creation of a firm is in transition, a more profound understanding of stakeholder relationships is needed. As a result of our empirical analysis, six characteristics of stakeholder relationships were identified. To conclude, the question of who and what really counts should be replaced by the question of how value is created in stakeholder relationships. (shrink)

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 ascendancy of␣stakeholder theory, this article presents an overview of␣two traditional conceptualizations of corporate social␣responsibility (CSR) (Carroll: 1979, ‹A Three-Dimensional Conceptual Model of Corporate Performance', The Academy of Management Review 4(4), 497–505 and Wood: 1991, ‹Corporate Social Performance Revisited', The Academy of Management Review 16(4), 691–717), highlighting their predominant inclination (...) toward providing static taxonomic CSR descriptions. The article then makes the case for a stakeholder approach to CSR, reviewing its rationale and outlining how it has␣been integrated into recent empirical studies. In light of this review, the article adopts a stakeholder framework – the Ethical Performance Scorecard (EPS) proposed by Spiller (2000, ‹Ethical Business and Investment: A Model For Business and Society', Journal of Business Ethics 27, 149–160) – to examine the CSR approach of a sample of␣Lebanese and Syrian firms with an interest in CSR␣and␣test relevant hypotheses derived from the CSR/stakeholder literature. The findings are analyzed and implications drawn regarding the usefulness of a stakeholder approach to CSR. (shrink)

We propose adding a temporal dimension to stakeholder management theory, and assess the implications thereof for firm-level competitive advantage. We argue that a firm’s competitive advantage fundamentally depends on its capacity for stakeholder management related, transformational adaptation over time. Our new temporal stakeholder management approach builds upon insights from both the resource-based view (RBV) in strategic management and institutional theory. Stakeholder agendas and their relative salience to the firm evolve over time, a phenomenon well understood in (...) the literature, and requiring what we call level 1 adaptation. However, the dominant direction of stakeholder pressures can also change, namely, from supporting resource heterogeneity at the firm level to fostering industry homogeneity, and vice versa. When dominant stakeholder pressures shift from supporting heterogeneity towards stimulating homogeneity in industry, the firm must engage in level 2 or transformational adaptation. Stakeholders typically provide valuable resources to the firm in an early stage . Without these resources, which foster heterogeneity (in line with RBV thinking), the firm would not exist. At a later stage , stakeholders also contribute to inter-firm homogeneity via isomorphism pressures (in line with institutional theory thinking). Adding a temporal dimension to stakeholder management theory has far reaching implications for this theory’s practical relevance to senior level management in business. (shrink)

The popularity of the stakeholder model has been achieved thanks to its powerful visual scheme and its very simplicity. Stakeholder management has become an important tool to transfer ethics to management practice and strategy. Nevertheless, legitimate criticism continues to insist on clarification and emphasises on the perfectible nature of the model. Here, rather than building on the discussion from a philosophical or theoretical point of view, a different and innovative approach has been chosen: the analysis will return to (...) the origin of stakeholder theory and will keep the graphical framework firmly in perspective. It will confront the stakeholder model’s graphical representation to the discussion on stakeholder definition, stakeholder identification and categorisation, to re-centre the debate to the strategic origin of the stakeholder model. The ambiguity and the vagueness of the stakeholder concept are discussed from managerial and legal approaches. The impacts of two major shortcomings of the popular stakeholder framework are examined: the boundaries and the level of the firm’s environment, and the ambivalent position of pressure groups and regulators. Working pragmatically, with a focus on the managerial and organisational perspective, an attempt is made to clarify the categorisations and classifications by introducing new terminology with a distinction between stakeholders, stakewatchers and stakekeepers. The analysis will finally lead to a proposed upgraded and refined version of the stakeholder model, with incremental ameliorations close to Freeman’s original model and a return of focus to its essence, the managerial implications in a strategic approach. (shrink)

Stakeholder theory is widely recognized as a management theory, yet very little research has considered its implications for individual managerial decision-making. In the two studies reported here, we used stakeholder theory to examine managerial decisions about balancing stakeholder interests. Results of Study 1 suggest that indivisible resources and unequal levels of stakeholder saliency constrain managers’ efforts to balance stakeholder interests. Resource divisibility also influenced whether managers used a within-decision or an across-decision approach to balance (...) class='Hi'>stakeholder interests. In Study 2 we examined instrumental and normative implications of these two approaches. We conclude by considering the contributions of this research. (shrink)

ABSTRACT:Many companies engage in dialogue with nongovernmental organizations about societal issues. The question is what a regulative ideal for such dialogues should be. In the literature on corporate social responsibility, the Habermasian notion of communicative action is often presented as a regulative ideal for stakeholder dialogue, implying that actors should aim at consensus and set strategic considerations aside. In this article, we argue that in many cases, communicative action is not a suitable regulative ideal for dialogue between companies and (...) NGOs. We contend that there is often an adversarial element in the relation between companies and NGOs, and that an orientation towards consensus can be in tension with this adversarial relation. We develop an alternative approach to stakeholder dialogue called ‘agonistic deliberation.’ In this approach, conflict and strategic considerations play a legitimate and, up to a certain point, desirable role. (shrink)