Difference between revisions of "Stakeholder Theory"
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− | + | Business Dictionary defines Stakeholder Theory as "a conceptual [[framework]] of [[Business Ethics|business ethics]] and [[Organizational Management|organizational management]] which addresses moral and ethical values in the management of a business or other [[organization]]."<ref>Definition of Stakeholder Theory [http://www.businessdictionary.com/definition/stakeholder-theory.html Business Dictionary]</ref> | |
+ | In 1984, R. Edward Freeman originally detailed the Stakeholder Theory of organizational management and business ethics that addresses morals and values in managing an organization. His award-winning book 'Strategic Management: A Stakeholder Approach', identifies and models the groups which are [[Stakeholder|stakeholders]] of a corporation, and both describes and recommends methods by which [[Management|management]] can give due regard to the interests of those groups. | ||
− | + | The theory has become a key consideration in the study of business ethics and has served as a platform for further study and development in the research and published work of many scholars. Since the 1980s, there has been a substantial rise in the theory’s prominence, with scholars around the world continuing to question the sustainability of focusing on shareholders’ wealth as the most fundamental objective of business.<ref>Background of Stakeholder Theory [http://stakeholdertheory.org/about/ StakeholderTheory.org]</ref> | |
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− | The theory has become a key consideration in the study of business ethics and has served as a platform for further study and development in the research and published work of many scholars | ||
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− | Since the 1980s, there has been a substantial rise in the theory’s prominence, with scholars around the world continuing to question the sustainability of focusing on shareholders’ wealth as the most fundamental | ||
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== References == | == References == | ||
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<references/> | <references/> |
Revision as of 19:18, 3 November 2021
Business Dictionary defines Stakeholder Theory as "a conceptual framework of business ethics and organizational management which addresses moral and ethical values in the management of a business or other organization."[1]
In 1984, R. Edward Freeman originally detailed the Stakeholder Theory of organizational management and business ethics that addresses morals and values in managing an organization. His award-winning book 'Strategic Management: A Stakeholder Approach', identifies and models the groups which are stakeholders of a corporation, and both describes and recommends methods by which management can give due regard to the interests of those groups.
The theory has become a key consideration in the study of business ethics and has served as a platform for further study and development in the research and published work of many scholars. Since the 1980s, there has been a substantial rise in the theory’s prominence, with scholars around the world continuing to question the sustainability of focusing on shareholders’ wealth as the most fundamental objective of business.[2]
References
- ↑ Definition of Stakeholder Theory Business Dictionary
- ↑ Background of Stakeholder Theory StakeholderTheory.org