“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

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

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 "The stakeholder concept was originally defined as "those groups without whose support the organization would cease to e…" by R. Edward Freeman?
R. Edward Freeman photo
R. Edward Freeman 9
American academic 1951

Related quotes

Igor Ansoff photo

“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

“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

“"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 (1951) American academic

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

Joel Bakan photo

“The corporation was originally conceived as a public institution whose purpose was to serve national interests and advance the public good.”

Joel Bakan (1959) Canadian writer, musician, filmmaker and legal scholar

Source: The Corporation: The Pathological Pursuit of Profit and Power (2004), Chapter 6, Reckoning, p. 153

“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

Igor Ansoff photo

“The publication of the book, Corporate Strategy, by H. Igor Ansoff was a major event in the 1965 world of management. As early as it came in this literature, the book represented a kind of crescendo in the development of strategic planning theory, offering a degree of elaboration seldom attempted since.”

Igor Ansoff (1918–2001) American mathematician

Henry Mintzberg (1994), The Rise and Fall of Strategic Planning, Prentice Hall, Hemel Hempstead. p. 43

Russell L. Ackoff photo

“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 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

“For those that were originally vaccinated with vaccine A and then receive a vaccine B booster, the results are better than those vaccinated under an 'AA' or 'BB' plan.”

Gao Fu (1961) Chinese virologist and immunologist

Source: Gao Fu (2022) cited in " Threat of omicron keeps China walled off, as scientists search for more-effective vaccines https://www.washingtonpost.com/world/2022/01/10/omicron-china-covid-vaccines/" on The Washington Post, 10 January 2022.

Douglass C. North photo

“Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market. (footnote 4: The original contributions were those of Hayek”

Douglass C. North (1920–2015) American Economist

1937 and 1945)
Douglass North, in "Structure and Change in Economic History" (1981), p. 36

Related topics