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STAKEHOLDERS MATTER A New Paradigm for Strategy in Society Sybille Sachs & Edwin Rühli
Published 15 September 2011 by Cambridge University Press
For more information on the book and a direct link to amazon.com please visit our blog. |
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 particualr 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 vlaue 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 is the visible hands of the firm and the stakeholders that lead to an overall increase in the welfare of society.
"Stakeholder management is an idea whose time has come. This book articulates and further develops a new stakeholder paradigm in strategic management. It contributes both to research scholarship and to management practice."
Joe Mahoney, Caterpillar Chair in Business, College of Business, University of Illinois at Urbana-Champaign
"Few concepts are as central to the study of corporate strategy and business responsibility as that of stakeholders. As this book makes clear, stakeholders matter! Professors Sybille Sachs and Edwin Rühli show that stakeholders are at the heart of a twenty-first-century strategic management paradigm. As they show, a firm's ability to operate, innovate, and compete in the modern economy requires a deep understanding of its critical relationships. Stakeholders Matter is a valuable reference for business leaders and an essential text for students of strategy, business, and society."
James E. Post, John F. Smith, Jr. Professor in Management, Bosten University, School of Management
"Stakeholders Matter provides a comprehensive and persuasive argument for stakeholder capitalism and strategic stakeholder collaboration. It is a thoughtful look at how the short-comings of shareholder-based capitalism can be addressed through mutual value creation. On one hand, the discussion of economic theories and strategic management in light of stakeholder thinking is remarkable for its insights. On the other hand, the discussion of how a stakeholder-based capitalism is warranted by three licenses provides new directions for those serious about why and how stakeholders matter. In short, anyone interested in strategic management and stakeholder thinking will find this a valuable resource for their personal libraries."
Grant T. Savage, Co-Director, Healthcare Leadership Academy, and Professor of Management, University of Alabama at Brimingham
Chapter Overview
Chapter 1: Challenges for a new paradigm in strategic management
Chapter 2: The economic paradigm and its basic assumptions
Chapter 3: Contribution of stakeholder theory to our understanding of the stakeholder
paradigm
Chapter 4: The stakeholder paradigm
Chapter 5: Our understanding of the stakeholder paradigm operationalized in the three
licenses
Chapter 6: License to operate
Chapter 7: License to innovate
Chapter 8: License to compete
Chapter 9: Challenges resulting from a paradigm shift
(Source: Sachs, S & Rühli, E (2011), Stakeholders Matter: A New Paradigm for Strategy in Society, Cambrigde University Press, Cambrigde, UK)
| SUSTAINABLE SUCCESS WITH STAKEHOLDERS
The Untapped Potential Sybille Sachs, Edwin Rühli, Isabelle Kern
Who are your stakeholders, what do they expect from you and how can your firm benefit from them? This book provides answers to these questions and shows you how strategically important partners can be included into your firm's value creation, how you and your stakeholders can benefit from each other and how you can achieve sustainable success in a competitive environment.
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Within EABIS, stakeholders have always been identified as an important theme, both for the multi-national companies and leading business schools in our network. As a result, in 2005, the Corporate Founding Partners of EABIS – IBM, Johnson & Johnson, Microsoft, Shell and Unilever – agreed to co-fund the HWZ-led project behind this book as one of their first priority initiatives.
The results of the extensive research done with seven Swiss firms - most of which are either global players themselves or are subsidiaries of global corporations – were initially presented at a 2007 conference in Zurich, but are further elaborated in this book.
Many firms confirm that stakeholders are important to them. But - as the book title "Sustainable Success with Stakeholders - The Untapped Potential" suggests - firms often lack a systematic approach to stakeholder management. They lack experience in defining their strategically important stakeholders, in engaging their stakeholders in value creation initiatives, and particularly in understanding the potential benefit that stakeholders can bring to their own firm.
This book shows managers in a very hands-on manner how they can identify their stakeholders and cooperate with them in a way that is mutually successful and satisfying. The book includes numerous examples from the case studies and from international companies, illustrating the stepping stones to a comprehensive stakeholder management framework. This makes it an indispensible companion for managers of small and large firms.
In addition, the book is also well suited for management education and MBA courses as it illustrates the theoretical concepts of the Stakeholder View and their application in practice. It thus bridges the gap between theory and practice in a convincing manner. It shows how the narrow shareholder value thinking can be overcome and be replaced by a comprehensive theory of the firm. |
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LIZENZ ZUM MANAGENMit Stakeholdern zum Erfolg:Herausforderungen und Good PracticesSybille Sachs, Edwin Rühli, Isabelle Kern
«Schriftenreihe für Betriebs- und Bildungsökonomie» Band 5. Erschienen im Mai 2007
If you are interested in this book, please download the Flyer to order. |
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REDEFINING THE CORPORATION
Stakeholder Management and Organizational Wealth Post, J. E., Preston, L. E., & Sachs, S. 2002 Stanford: Stanford University Press 376 Seiten
ISBN 978-0804743105 |
