Stakeholders Matter

A New Paradigm for Strategy in Society

Business & Finance, Management & Leadership, Planning & Forecasting, Management
Cover of the book Stakeholders Matter by Sybille Sachs, Edwin Rühli, Cambridge University Press
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Author: Sybille Sachs, Edwin Rühli ISBN: 9781139152624
Publisher: Cambridge University Press Publication: September 15, 2011
Imprint: Cambridge University Press Language: English
Author: Sybille Sachs, Edwin Rühli
ISBN: 9781139152624
Publisher: Cambridge University Press
Publication: September 15, 2011
Imprint: Cambridge University Press
Language: English

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 particular 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 value 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 the visible hands of the firm and the stakeholders that lead to an overall increase in the welfare of society.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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 particular 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 value 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 the visible hands of the firm and the stakeholders that lead to an overall increase in the welfare of society.

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