Stakeholder Theory

The Stakeholder Theory

Charles Fontaine Antoine Haarman Stefan Schmid

- December 2006 -

Stakeholder Theory of the MNC

Index
1. Introduction ........................................................................................3 2. Basic idea of the Stakeholder Theory and Definition ....................3
2.1. 2.2. 2.3. 2.4. 2.5. The stakeholder concept – popular and trendy..........................................................................4 Different definitions of Stakeholder .............................................................................................5 What is a Stakeholder? ..................................................................................................................6 Who are Stakeholders? ..................................................................................................................6 History of the Stakeholder Theory................................................................................................7

3. Contribution of Freeman to the stakeholder literature ..................9
3.1. 3.2. Freeman Strategic Management ...................................................................................................9 Freeman’s essential book: A stakeholder approach .............................................................. 10

4. Normative, instrumental, and descriptive stakeholder theory....13
4.1. Introduction................................................................................................................................... 13

4.2. Normative theory.......................................................................................................................... 14 4.2.1. Objective................................................................................................................................ 14 4.2.2. The action of a company should be ‘ethic’........................................................................... 15 4.2.3.

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