This chapter highlights some of the tensions and most promising points of convergence between the strategic management and stakeholder theory literatures. We briefly examine the early development of both areas, identifying some of the background assumptions and choices that informed how the...

Stakeholders often engage in actions aimed at either benefitting or punishing firms for their behaviour. Such behaviours can have very serious implications for various types of firm performance, including financial performance. Though one might expect that the investigation of possible...

Stakeholders are typically described as those who may affect or be affected by the actions of a firm. The purpose of this chapter is to present an argument that stakeholder theory should pay specific regard to what I term marginal stakeholders , that is, parties affected by a firm’s actions...

In this chapter, we update stakeholder salience research using the new lens of stakeholder work: the purposive processes of organization aimed at being aware of, identifying, understanding, prioritizing, and engaging stakeholders. Specifically, we focus on stakeholder prioritization work —...

The argument that applications of social network research tools and theories to stakeholder research will advance our understanding of how organizations should and do interact with their stakeholders and how stakeholders influence organizations has been well known for over 15 years. However, the...

This chapter assembles the key literature on value creation for consideration in relationship to stakeholder theory. The literature review identifies and explains the core topics concerning value creation and related ideas. The purpose is to stimulate research into the theory, practice, and...

Theories of management require normative justification; that is, they rely on some conception of what is morally good, right, and just. This chapter examines some of the normative reasons for adopting a stakeholder theory of management and for rejecting the once, and perhaps still,...

Stakeholder theory has been accused of being an umbrella concept rather than a distinct theory per se. Recognizing the stakeholder concept as an essentially contested concept subject to multiple competing interpretations, this chapter presents a systematic meta-level conceptual analysis. This...