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Stakeholders Matter: A New Paradigm for Strategy in Society: Business, Value Creation, and Society

Autor Sybille Sachs, Edwin Rühli
en Limba Engleză Paperback – 21 aug 2013
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.
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Specificații

ISBN-13: 9781107624634
ISBN-10: 1107624630
Pagini: 298
Ilustrații: 25 b/w illus. 10 tables
Dimensiuni: 152 x 229 x 16 mm
Greutate: 0.4 kg
Editura: Cambridge University Press
Colecția Cambridge University Press
Seria Business, Value Creation, and Society

Locul publicării:New York, United States

Cuprins

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.

Notă biografică


Descriere

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