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Stakeholders Matter
A New Paradigm for Strategy in Society

$32.99

Part of Business, Value Creation, and Society

Edward Freeman
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  • Date Published: January 2014
  • availability: Available
  • format: Paperback
  • isbn: 9781107624634

$ 32.99
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  • The dominant shareholder-value model has led to mismanagement, market failure and a boost to regulation, as spectacularly demonstrated by the events surrounding the recent financial crisis. Stakeholders Matter challenges the basic assumptions of this model, in particular traditional economic views on the theory of the firm and dominant theories of strategic management, and develops a new understanding of value creation away from pure self-interest toward mutuality. This new 'stakeholder paradigm' is based on a network view, whereby mutuality enhances benefits and reduces risks for the firm and its stakeholders. The understanding of mutual value creation is operationalized according to the license to operate, to innovate and to compete. The book develops a vision for a strategy in society in which, rather than the invisible hand of the market, it the visible hands of the firm and the stakeholders that lead to an overall increase in the welfare of society.

    • Presents a new approach to strategic management that overcomes the obvious shortcomings of existing business models
    • Encourages readers to develop a new understanding of what stakeholders are and the role of the corporation, viewed in the context of a network
    • Equips readers with a solid theoretical base, enabling them to actively participate in the current and future development of strategy in society
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    Product details

    • Date Published: January 2014
    • format: Paperback
    • isbn: 9781107624634
    • length: 298 pages
    • dimensions: 229 x 152 x 16 mm
    • weight: 0.4kg
    • contains: 25 b/w illus. 10 tables
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    Foreword Edward Freeman
    1. Challenges for a new paradigm in strategic management
    Part I. Development of the Basic Assumptions of a New Stakeholder Paradigm:
    2. The economic paradigm and its basic assumptions
    3. Contribution of stakeholder theory to our understanding of the stakeholder paradigm
    4. The stakeholder paradigm
    Part II. Our Understanding of the Stakeholder Paradigm and its Operationalization:
    5. Our understanding of the stakeholder paradigm operationalized in the three licenses
    6. License to operate
    7. License to innovate
    8. License to compete
    9. Challenges resulting from a paradigm shift
    Appendix
    Glossary
    Notes
    Bibliography.

  • Authors

    Sybille Sachs, Hochschule für Wirtschaft Zürich (HWZ)
    Sybille Sachs is Professor and Head of the Institute for Strategic Management: Stakeholder View at the University of Applied Sciences Zurich (HWZ). In addition, she is an affiliate professor of the University of Zurich, where she established the module for Business and Society in 2000. She has published numerous articles and books in the fields of strategic management and stakeholder management and is co-author of the book Redefining the Corporation (2002).

    Edwin Rühli, Universität Zürich
    Edwin Rühli is Professor Emeritus for Business Administration at the University of Zurich. He is also Senior Advisor at the Institute for Strategic Management: Stakeholder View of the University of Applied Sciences in Zurich. He is the author of the groundbreaking German management book Unternehmungsführung I-III and has published more than 150 peer-reviewed publications in the fields of international management, corporate governance, strategic management and stakeholder management.

    Contributors

    Edward Freeman

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