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Stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization. It was originally detailed by Freeman in the book Strategic Management: a Stakeholder Approach, and identifies and models the groups which are stakeholders of a corporation, and both describes and recommends methods by which management can give due ...
Numerous articles and books written on stakeholder theory generally identify Freeman as the "father of stakeholder theory". [14] Freeman's Strategic Management: A Stakeholder Approach (1984) is widely cited in the field as being the foundation of stakeholder theory, [15] although Freeman himself refers to several bodies of literature used in the development of his approach, including strategic ...
The origin of stakeholder engagement can be traced back to the 1930s. [5] In 1963, the Stanford Research Institute first defined the concept of stakeholder. [5] In 1984, Edward Freeman’s book Strategic Management: A Stakeholder Approach was published.
In management, a stakeholder approach is the practice that managers formulate and implement processes that satisfy stakeholders' needs to ensure long-term success. [1] According to the degree of participation of the different groups, the company can take advantage of market imperfections to create valuable opportunities.
In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", [1] as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s.
The idea that upholding social responsibilities can help a company sustain its profits in the long term has been "part of mainstream management theory at least since the publication of Edward Freeman's 1984 classic, Strategic Management: A Stakeholder Approach", [3] according to an article by Wayne Norman and Chris MacDonald in 2004. [4]
"The Tyranny of Structurelessness" is an essay by American feminist Jo Freeman that concerns power relations within radical feminist collectives. The essay, inspired by Freeman's experiences in a 1960s women's liberation group, [1] [2] reflected on the feminist movement's experiments in resisting leadership hierarchy and structured division of labor.
In multistakeholder governance, there are three tiers of 'stakeholder' definitions: (1) the definition of the 'stakeholder category' (e.g. business); (2) the definition or the specification for selecting organizations or institutions within a 'stakeholder category' (e.g. micro-enterprises or women-owned businesses); and (3) the definition or ...