Preview

stakeholder theory

Good Essays
Open Document
Open Document
1047 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
stakeholder theory
Stakeholder Theory
Defining it in relationship to Social Responsibility

Author note

This paper will help our class research the Stakeholder theories to come up with a framework to address the issues in the Niger Delta, defining principle of who or what really counts concerning the core, the fringe and other stakeholders; so that this project will be socially responsible and a win-win for all.

Abstract
This paper will explore and define the what, who and why of stakeholders, I have read a number of articles and looked for definitions of what is a stakeholder. We will explore the finding to help us frame the research the core stakeholders and fringes stakeholders and all in between looking what stakes in it for who and what. Those the definitions’ may differ and the degree of power with the scale influence or lack of influence on the outcome of project, corporation

Keywords: Corporate Social Responsibility (CSR); stakeholder approach; stakeholder theory; social and environmental responsibilities

The Oxford English Dictionary entry quotes probably the earliest recorded definition, dated 1708, of what it is to be a stakeholder, to have something to gain or lose by the turn of events, or to have an interest in an event or concern. Contemporary definitions of stakeholder range from the highly specific to the general. Freeman's now-classic definition of a stakeholder includes “any group or individual who may affect or be affected by the obtainment of the organization's goals, objectives, decisions, policies, practices and operations.
In recent years, the growing importance of the stakeholder concept has been highlighted by several academic forums. Along with two international conferences convened in 1993 and 1994 at the University of Toronto in Canada, NÄSI organized a conference in the summer of 1994 on stakeholder thinking at the University of Jyäskylä in Finland. In addition, the British ROYAL

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Bus 1101 Unit 4 Business

    • 291 Words
    • 2 Pages

    The text defines stakeholders as: “Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected by what the organization does.” Every organization has stakeholders.…

    • 291 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Stakeholder is a person or groups who have interest in the success of the organization. A stakeholder is mainly concerned with an organization delivering better results and meeting its financial objectives. There are two types of stakeholder.…

    • 1865 Words
    • 8 Pages
    Good Essays
  • Better Essays

    A stakeholder is a person, group or organization that has interest or concern in an organization (businessdictionary). Generally the common characteristics stakeholders might have are if they stand to gain or lose through the success or failure of the company. “A corporate stakeholder can affect the actions of a business as a whole” (businessdictionary). PharmaCARE is a well-reputed company whose number one goal is to produce quality care products across the world. PhramaCARE’s prime stakeholders include CompCARE, employees and the employers. Any decision PharmaCARE makes can either be a negative or positive…

    • 1463 Words
    • 6 Pages
    Better Essays
  • Better Essays

    Stakeholders: Large Firms

    • 972 Words
    • 4 Pages

    Yvon Pesqueux, Salma Damak-Ayadi, (2005),"Stakeholder theory in perspective", Corporate Governance, Vol. 5 Iss: 2 pp. 5 - 21…

    • 972 Words
    • 4 Pages
    Better Essays
  • Better Essays

    Stakeholder Salience

    • 1267 Words
    • 6 Pages

    Neville, B. A., Bell, S. J., & Whitwell, G. J. (2011). Stakeholder salience revisited: Refining, redefining, and refueling an underdeveloped conceptual tool. Journal of Business Ethics, 102(3), 357-378. doi:http://dx.doi.org/10.1007/s10551-011-0818-9…

    • 1267 Words
    • 6 Pages
    Better Essays
  • Good Essays

    A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. There are two different types of stakeholders; internal and external. Internal stakeholders are groups within the business e.g owner/workers and employees. External stakeholders are local and national communities and governments, these are groups outside of the business.…

    • 1031 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Tesco Stakeholders Essay

    • 574 Words
    • 3 Pages

    A stakeholder is a person, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization's actions, objectives, and policies. Key stakeholders in a business organization include creditors, customers, employees, government, owners, suppliers, unions and the community from which the business draws its resources.…

    • 574 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Buchholz, R.A., & Rosenthal, S. B. (2004). Stakeholder Theory and Public Policy: How Government Matters. [Academic Journal]. Journal of Business Ethics. Part 1, Vol. 51 Issue 2, p143-153. 11p, Database: Business Source Complete…

    • 1235 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    A stakeholder is anybody who can affect or is affected by an organization, strategy or project. They can be internal or external and they can be at senior or junior levels. Some definitions suggest that stakeholders are those who have the power to impact an organization or project in some way.…

    • 906 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Stakeholders are any person, crowd or professional with an entrusted concern in the victory of an association. A stakeholder is usually worried with an institute conveying proposed effects and gathering its monetary…

    • 1071 Words
    • 5 Pages
    Better Essays
  • Good Essays

    A stakeholder is someone who has an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of a business. Customers are arguably the most important stakeholder. This is because they are the main source of cash flow in a business.…

    • 739 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Meeting Stakeholder Needs

    • 2081 Words
    • 9 Pages

    A stake holder is a party or person that has an interest, direct or indirect stake in an enterprise or project, Eden and Ackermann (1998) described stake holders as “People or small groups with the power to respond to, negotiate with, and change the strategic future of the organisation” (Eden and Ackermann, 1998:117), a further reference by Heerkens (2006) stated that “a stakeholder can stand to gain or lose through the success or failure of the project, can provide funding for the project or has invested resources and is affected by the outcome and outputs of the project”. Based on my reading thus far on the subject, I have diagrammed below (figure 1) the relevant stakeholders present in an organisation or enterprise.…

    • 2081 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    rere

    • 490 Words
    • 2 Pages

    The presentation below highlights and explains the different objectives of different stakeholder groups and begins to discuss the the influence of different stakeholder groups…

    • 490 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Unit 1 P4

    • 1188 Words
    • 5 Pages

    Stakeholders are extremely important to a business. A stakeholder is basically a group of individuals or a particular organisation that have an interest in the company’s decisions. Stakeholders can be categorised into two sections; internal and external. Internal stakeholders for example are employees within the company whereas external stakeholders are customers, suppliers, trade unions and much more.an example of a stakeholder is in KFC. Their job is to work within the company and ensure that it runs and can provide a service, without them there’ll be no one to serve customers and the business will have to inevitably shut down. That’s why it’s important for KFC to treat their employees with respect and to not underpay them.…

    • 1188 Words
    • 5 Pages
    Satisfactory Essays
  • Satisfactory Essays

    A stakeholder who is able to effectively parlay their power and influence can have a profound impact in how that particular organization conducts business on many levels which, in turn, may create some rethinking and reposturing of the mission, vision, and strategy of an organization. It is certainly in the best interest of the organization to build strong relationships with their many stakeholders so as to add value to their overall brand and image (Lawrence & Weber, 2011).…

    • 372 Words
    • 2 Pages
    Satisfactory Essays

Related Topics