Stakeholders Matter : a New Paradigm for Strategy in Society.

Cover; Stakeholders Matter; Business, Value Creation, and Society; Title; Copyright; To Alexandra Sachs, for whom the paradigm shift matters; Contents; Figures; Tables; Foreword; Acknowledgments; 1 Challenges for a new paradigm in strategic management; The future of business in society: social and economic changes; Requirements for a new paradigm in strategic management; Historic nature of paradigms; Origin of the economic paradigm; Post-Enlightenment Capitalism; Multi-paradigm concepts to reflect reality; Our contribution to the stakeholder paradigm; Path toward a new stakeholder paradigm.

Part I Development of the basic assumptions of a new stakeholder paradigm2 The economic paradigm andits basic assumptions; The economic paradigm of the theory of the firm; What is the purpose of the firm and its underlying principle of value creation?; Who are the actors and who are the owners?; What are the main attributes of actors and their behavior?; What are the conditions of the environment?; Final remarks; The strategy theory: general remarks; The strategy theory: the "Industry Structure View of Strategy" (ISV).

What is the purpose of the firm and its underlying principle of value creation?Who are the actors and who are the owners?; What are the main attributes of actors and their behavior?; What are the conditions of the environment?; Final remarks on the ISV; The strategy theory: the "Resource-based View of Strategy" (RbV); What is the purpose of the firm and its underlying principle of value creation?; Who are the actors and who are the owners?; What are the main attributes of actors and their behavior?; What are the conditions of the environment?; Final remarks on the RbV.

The economic paradigm revisited3 Contribution of stakeholder theory to our understanding of the stakeholder paradigm; Descriptive dimension; Who are the stakeholders?; Empirical aspects; The strategic dimension in stakeholder definitions; Normative dimension of stakeholder definition; What is the interaction between the firm and its stakeholders?; Dyadic interaction; Stakeholder networks; Our understanding from a descriptive perspective; Instrumental dimension; Stakeholders impact value creation; Stakeholders create competitive advantage; Stakeholder relations pay off.

Our understanding from an instrumental perspectiveNormative stakeholder dimension; Economic normative foundation; Social/philosophical, normative foundation; Our understanding from a normative perspective; Final remarks; Donaldson and Preston claim that:; 4 The stakeholder paradigm; The stakeholder theory of the firm; What is the purpose of the firm and its underlying principles of value creation?; Who are the actors and who are the owners?; What are the main attributes of actors and their behavior?; What are the conditions of the environment?; Final remarks; Stakeholder Capitalism.

What is the purpose of the firm and its underlying principles of value creation?

Challenges the basic assumptions of the dominant shareholder-value model and develops a new understanding of value creation based on mutuality.

Includes bibliographical references and index.

Print version record.

English.

eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - Worldwide