1.

Record Nr.

UNINA9910457502503321

Autore

Sachs Sybille

Titolo

Stakeholders matter : a new paradigm for strategy in society / / Sybille Sachs, Edwin Rühli [[electronic resource]]

Pubbl/distr/stampa

Cambridge : , : Cambridge University Press, , 2011

ISBN

1-107-22355-5

1-139-15262-9

1-283-34225-1

1-139-16009-5

9786613342256

1-139-15553-9

1-139-16109-1

1-139-15728-0

1-139-15904-6

1-139-02696-8

Descrizione fisica

1 online resource (xviii, 278 pages) : digital, PDF file(s)

Collana

Business, value creation and society

Disciplina

658.4/012

Soggetti

Strategic planning

Customer relations

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

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.

Sommario/riassunto

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.