Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

An Introduction To Stakeholder Theory

67,189 views

Published on

Published in: Business, Economy & Finance
  • Download or read that Ebooks here ... ......................................................................................................................... DOWNLOAD FULL PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Doc Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... .........................................................................................................................
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • DOWNLOAD FULL BOOKS, INTO AVAILABLE FORMAT ......................................................................................................................... ......................................................................................................................... ,DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • DOWNLOAD FULL BOOKS, INTO AVAILABLE FORMAT ......................................................................................................................... ......................................................................................................................... ,DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

An Introduction To Stakeholder Theory

  1. 1. Stakeholder theory Stakeholder management and strategic planning
  2. 2. Two broad stakeholder theories <ul><li>Friedman </li></ul><ul><li>Freeman </li></ul>
  3. 3. Theory one <ul><li>Milton Friedman – focus on the shareholders as they only stakeholders who matter. The business of business is making a profit and building shareholder value the prime purpose. </li></ul>
  4. 4. Theory two <ul><li>* The quickest way to destroy shareholder value is to ignore stakeholders </li></ul>
  5. 5. Where did it start? <ul><li>R. Edward Freeman (1984) </li></ul><ul><li>Stakeholder theory is about identifying the groups who are stakeholders in a corporation and need to be managed </li></ul>
  6. 6. Why are stakeholders important? <ul><li>Corporations and organisations operate with the consent of the community. </li></ul><ul><li>Communities comprise groups of stakeholders </li></ul><ul><li>Winning the consent of these stakeholders provides a licence to operate </li></ul>
  7. 7. Who are stakeholders? <ul><li>The directly involved: </li></ul><ul><li>- investors </li></ul><ul><li>- employees </li></ul><ul><li>- suppliers </li></ul><ul><li>- customers </li></ul>
  8. 8. Other stakeholders <ul><li>Government </li></ul><ul><li>Political parties </li></ul><ul><li>Trade unions </li></ul><ul><li>Community groups </li></ul><ul><li>NGOs </li></ul><ul><li>Plant neighbours </li></ul>
  9. 9. A key question for you <ul><li>Is the media a stakeholder? </li></ul>
  10. 10. Why pay attention to stakeholders? <ul><li>Moral or philosophical reasons – corporate social responsibility </li></ul><ul><li>Practical reasons – licence to operate </li></ul><ul><li>Strategic planning reasons – identifying opportunities and threats </li></ul>
  11. 11. Some key management questions <ul><li>Why should specific companies pay attention to stakeholders? </li></ul><ul><li>Who are the organisation’s stakeholders? How do we identify them? </li></ul><ul><li>What is the basis for their interest/legitimacy? </li></ul><ul><li>What do they want? </li></ul>
  12. 12. Some key management questions <ul><li>Which stakeholders are most important? How do we set priorities? </li></ul><ul><li>Do we need separate strategies for different stakeholder groups? </li></ul><ul><li>Can we reach all stakeholder groups? </li></ul><ul><li>How do we balance stakeholder interests? </li></ul>
  13. 13. Managing stakeholders – a strategic context <ul><li>The quality of relationships with stakeholders are the key determinant of corporate reputation </li></ul><ul><li>Stakeholder management is the core of public affairs management </li></ul><ul><li>Symmetric and asymmetric communication theory is relevant to stakeholder management </li></ul>
  14. 14. Managing stakeholders – an communications approach <ul><li>Identify the stakeholders </li></ul><ul><li>Identify the relationship you want with them </li></ul><ul><li>Identify the urgency/timing need for communicating with them </li></ul><ul><li>Identify their information needs </li></ul><ul><li>Identify the best communication channel </li></ul>
  15. 15. Some practical examples <ul><li>Employees – face to face as frequently as possible </li></ul><ul><li>Investors – as laid down by ASX/ASIC regulations </li></ul><ul><li>Governments – building up goodwill for the future </li></ul><ul><li>The media – when and where appropriate </li></ul>
  16. 16. Managing stakeholders – a PA and issues management approach <ul><li>Craig Fleisher’s emerging PA model: </li></ul><ul><li>Managing PA and issues management on a year round process </li></ul><ul><li>Cultivating and maintaining enduring stakeholder relationships </li></ul><ul><li>Influencing stakeholders using refined information </li></ul><ul><li>Managing the grassroots </li></ul>
  17. 17. Fleisher model <ul><li>Communicating in an integrated manner </li></ul><ul><li>Continually aligning values and strategies with the public’s interests </li></ul><ul><li>Improving external relationships using contemporary management practices </li></ul>
  18. 18. Using PA planning techniques <ul><li>Identify stakeholder management needs as an integral part of: </li></ul><ul><li>Issues monitoring and environmental scanning </li></ul><ul><li>Analysing threats and being sceptical </li></ul><ul><li>Using standard analytical tools: SWOT, PEST, Porter model </li></ul>
  19. 19. Planning techniques <ul><li>Undertaking scenario planning: What ifs? </li></ul><ul><li>Constantly testing internal perception against external realities </li></ul><ul><li>Creating risk, opportunity and issues profile </li></ul><ul><li>Producing issues maps and stakeholder matrices </li></ul>
  20. 20. Setting priorities <ul><li>Categorise stakeholders by: </li></ul><ul><li>Stakeholders directly interested in your success </li></ul><ul><li>Allies and potential allies </li></ul><ul><li>Entrenched opponents </li></ul><ul><li>Independent monitors and opinion formers </li></ul><ul><li>Uninvolved </li></ul>
  21. 21. Management strategies <ul><li>Directly interested – recruit as advocates </li></ul><ul><li>Allies – encourage </li></ul><ul><li>Opponents – neutralise </li></ul><ul><li>Independents – maintain dialogue </li></ul><ul><li>Uninvolved – monitor and anticipate </li></ul>
  22. 22. Some conclusions <ul><li>Two theories – empirically one wrong and one right </li></ul><ul><li>Focus on identifying stakeholders and why they are important </li></ul><ul><li>Integrate stakeholder management into strategic planning </li></ul><ul><li>Set stakeholder priorities </li></ul>

×