“"Stakeholder Management" as a concept, refers to the necessity for an organization to manage the relationships with its specific stakeholder groups in an action-oriented way.”

— R. Edward Freeman

Source: A stakeholder approach to strategic management, 1984, p. 52

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote ""Stakeholder Management" as a concept, refers to the necessity for an organization to manage the relationships with its…" by R. Edward Freeman?

R. Edward Freeman photo

R. Edward Freeman9

American academic 1951

Related quotes

“Lack of specificity around stakeholder identity remains a serious obstacle to the further development of stakeholder theory and its adoption in actual practice by business managers. Nowhere is this shortcoming more evident than in stakeholder theory's treatment of the constituency known as 'community.”

R. Edward Freeman (1951) American academic

Freeman (2001) "Enhancing Stakeholder Practice: A Particularized Exploration of Community," 2001, cited in: Enhancing Stakeholder Practice, Ten Years Later: Professor Ed Freeman on Community, Technology and Globalization http://www.justmeans.com/Enhancing-Stakeholder-Practice-Ten-Years-Later-Professor-Ed-Freeman-on-Community-Technology-Globalization/48445.html, in: Corporate social responsibility, April 15, 2011

“Stakeholder theory regards the firm as a nexus of stakeholders, commonly defined as groups or individuals who can affect or are affected by the achievement of the firm's goals (Freeman 1984). Depending on the ground for examining a firm's stakeholders, we can differentiate three approaches (Jones 1995):
The descriptive approach proposes an examination of firm-stakeholder relationships to provide an understanding of how the firm deals with different stakeholders.
The normative approach proposes an examination of firm-stakeholder relationships to discem stakeholders' interests and offer guidance on how to account for them using moral or philosophical principles.
The instrumental approach also proposes an examination of firm-stakeholder relationships to discem stakeholders' interests. However, in contrast to the normative approach, the instrumental approach involves the organizational performance consequences that stem from accounting for these interests.
The distinctive aspect of the instrumental approach to stakeholder theory is that it explicitly suggests linking stakeholder-directed activities (means) to corporate performance outcomes (ends) (Donaldson and Preston 1995; Freeman 1999).”

Christian Homburg (1962) German academic

Source: "Corporate social responsibility in business-to-business markets", 2013, p. 56; On Instrumental stakeholder theory

“A stakeholder in an organization is (by definition) any group or individual who can affect or is affected by the achievement of the organization's objectives.”

R. Edward Freeman (1951) American academic

Source: A stakeholder approach to strategic management, 1984, p. 46

“An organization's mission statement (1) should contain its reasons for existence and its most general aspirations, its ideals. (2) It should identify in very general terms the way(s) by which the organization will pursue its ideals, that is, the business it wants to be in. (3) It should formulate the ways by which it will attempt to serve each of its stakeholder groups. (4) It should meet the preceding requirements in a way that is exciting and challenging to all its stakeholders. Finally, (5) it should establish the uniqueness of the organization.”

Russell L. Ackoff (1919–2009) Scientist

Source: 1990s, Re-Creating the Corporation (1999), p. 83.

“The technique of management, in its human relationships, can be best described as the technique of handling or managing people, which should be based on a deep and enlightened human understanding. The technique of organization may be described as that of relating specific duties or functions in a completely coordinated scheme. This statement of the difference between managing and organizing clearly shows their intimate relationship. It also shows, which is our present purpose, that the technique of organizing is inferior, in logical order, to that of management. It is true that a sound organizer may, because of temperamental failings, be a poor manager, but on the other hand it is inconceivable that a poor organizer may ever make a good manager… The prime necessity in all organization is harmonious relationships based on integrated interests, and, to this end, the first essential is an integrated and harmonious relationship in the duties, considered in themselves.”

James D. Mooney (1884–1957) American businessman

Source: Onward Industry!, 1931, p. 14-15; As cited in: Morgen Witzel (2003) Fifty Key Figures in Management. p. 197-8

“The organization as a coalition of diverse stakeholders is a coalition with multiple goals.”

Gareth Morgan book Images of Organization

Source: Images of Organization (1986), p. 154

“The stakeholder concept was originally defined as "those groups without whose support the organization would cease to exist." The list of stakeholders originally included shareowners, employees, customers, suppliers, lenders and society. Stemming from the work of Igor Ansoff and Robert Stewart (in the planning department at Lockheed) and, later Marion Doscher and Stewart at SRI, the original approach served an important information function in the SRI corporate planning.”

Igor Ansoff (1918–2001) American mathematician

R. Edward Freeman (2010) Strategic Management: A Stakeholder Approach. p. 32

“The stakeholder concept was originally defined as "those groups without whose support the organization would cease to exist." The list of stakeholders originally included shareowners, employees, customers, suppliers, lenders and society. Stemming from the work of Igor Ansoff and Robert Stewart (in the planning department at Lockheed) and, later Marion Doscher and Stewart at SRI, the original approach served an important information function in the SRI corporate planning.”

R. Edward Freeman (1951) American academic

R. Edward Freeman (2010) Strategic Management: A Stakeholder Approach. p. 32

“[Key Account Management is] the extent to which an organization achieves better relationship outcomes for its Key Accounts than for its average accounts.”

Christian Homburg (1962) German academic

Source: "A configurational perspective on key account management", 2002, p. 46

“Project management is the planning, organizing, directing, and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives. Furthermore, project management utilises the systems approach to management by having functional personnel (the vertical hierarchy) assigned to a specific project”

Harold Kerzner (1940) American engineer, management consultant

the horizontal hierarchy
Source: Project management for executives (1982), p. 3

Related topics