The Stakeholder View
The widely discussed “Stakeholder View” framework by Post. Preston Sachs(2002) has been developed by analyzing cases of several international companies that demonstrated that stakeholder interactions contribute to firms’ value creation. Thereby “the stakeholders in a corporation are the individuals and constituencies that contribute, either voluntarily or involuntarily, to its wealth-creating capacity and activities, and are therefore, its potential beneficiaries and/or risk bearers” (2002: 19). The SHV aims to integrate insights from instrumental stakeholder theory into the business model of a firm and therefore to provide an interlinkage between strategic management and stakeholder management. It represents an innovative and comprehensive perspective on strategic management relying on established elements of strategy theory and emphasizing the roles of stakeholders in three perspectives: Industry Structure View, Resource Based View, and the Social-Political Perspective.
In traditional strategy research, there are two main streams of literature which explain why and how companies can gain competitive advantages in their markets; on the one hand the “Industry Structure View” (ISV) and the “Resource Based View” (RBV). The Stakeholder View builds on these two traditional views and adds a social-political perspective as a third dimension.
