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2009 | Buch

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Sustainable Success with Stakeholders

The Untapped Potential

verfasst von: Sybille Sachs, Edwin Rühli, Isabelle Kern

Verlag: Palgrave Macmillan UK

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This book shows managers how they can identify their stakeholders and cooperate with them in a mutually successful and satisfying way. It includes numerous examples from case studies and international firms, illustrating the stepping stones to a comprehensive stakeholder management.

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Inhaltsverzeichnis

Frontmatter

Introduction

Abstract

We all know the catchphrases of today’s management critics: short-term profit making, greedy managers, cold-blooded takeovers, scandals, cost pressure and layoffs dominate the discussion. A consequence of this are increased accusations against short-term profit thinking and market failures. Negligent boards of directors, arrogant managers, and indiscriminating advisers have plunged business as we know it into a crisis of confidence. Opinion polls in Europe and the USA show this, as for example the GfK Trust Index 2006 based on results in 19 countries. In this study, the most trustworthy persons are physicians and teachers while the least trustworthy are managers, journalists and politicians (see Figure I.1).

Sybille Sachs, Edwin Rühli, Isabelle Kern

1. Why put all your eggs in only one basket?

Abstract

Imagine you are organizing a concert. In doing so, you need the help of different people or groups. As the event organizer you may be convinced that the success of the concert depends only on finding strong financial sponsors. Some of your colleagues may disagree saying that the success depends on the musicians. Others may say that the best musicians mean nothing if one is unable to attract the right audience.

Sybille Sachs, Edwin Rühli, Isabelle Kern

2. Who are my fellow stakeholders?

Abstract

Many corporations think they know who their strategically relevant stakeholders are. In our studies, we found that this opinion has often come about accidentally without the benefit of systematic thinking. This chapter demonstrates why professional stakeholder mapping needs to be seen as being as essential as budgeting, since both managerial tools aim to allocate and disseminate resources efficiently. The follow-up question is who the most important stakeholders are. One is particularly interested to know whether and to what extent they could be useful or harmful.

Sybille Sachs, Edwin Rühli, Isabelle Kern

3. Shareholders are also stakeholders

Abstract

Shareholders are indisputably essential stakeholders of your corporation and should be treated as such by managers.

Sybille Sachs, Edwin Rühli, Isabelle Kern

4. Getting to know your customers

Abstract

We all know the saying: ‘the customer is king’. For this reason, meeting the customers’ needs is often mentioned as the raison d’être of a corporation. Here are some quotes from our case study interviews:

‘The customers are at the centre of what we do, and regardless of the situation we approach them with a positive attitude and with dedication.’

‘The first stakeholder for me, and for many of our activities, is the customer. We don’t do business if the customer is unsatisfied.’

Sybille Sachs, Edwin Rühli, Isabelle Kern

5. Employees as knowledge partners

Abstract

At present, a variety of aspects concerning the relationships of corporations to their employees are discussed. For example, the following story made the rounds on the Internet:

Sybille Sachs, Edwin Rühli, Isabelle Kern

6. The strategic core of your stakeholders

Abstract

If one compares the strategic management of similar corporations, like Coca-Cola and PepsiCo, for example, then one may ask oneself why the two corporations achieve completely different results. This is the key question of modern strategic management.

Sybille Sachs, Edwin Rühli, Isabelle Kern

7. The spider in the web

Abstract

On the basis of the previous chapter, you are in a position to know who your stakeholders are. We have already discussed where the benefit and risk potentials in the stakeholder relationship may be found. However, we have not dealt with the fact that stakeholders are not only in contact with your corporation, but that they also have relationships among themselves. Although this is not surprising, our studies show that at present relatively few corporations concern themselves with networking. After a closer look, they are therefore often surprised at the effects such indirect relations can have on their own value-creation processes. Let us look at the following example:

Sybille Sachs, Edwin Rühli, Isabelle Kern

8. The demands of society

Abstract

Corporations are increasingly exposed to a critical public, which at the same time is increasingly better informed. This means that new expectations are developing in society towards your corporation as well.

Sybille Sachs, Edwin Rühli, Isabelle Kern

9. Transparency and sustainability

Abstract

Now the question arises of how to communicate with one’s stakeholders. The following anecdote of Paul Watzlawick¹ illustrates how not to:

Sybille Sachs, Edwin Rühli, Isabelle Kern

10. Have your cake and eat it

Abstract

In the last chapters, we have shown how you can increase the success of your corporation as a whole by consciously paying attention to stakeholder relationships. In the long run, this is only possible by treating your stakeholders fairly. By this we mean that the stakeholders should be able to expect something in return for their engagement with the corporation. This is not compatible with giving preferential treatment to one stakeholder category, e.g. the top managers.

Sybille Sachs, Edwin Rühli, Isabelle Kern

Take aways

Abstract

If after reading this book you are interested in finding ways to implement stakeholder oriented management, then the following ten principles, and the working through of the questions associated with them, should be useful.

Sybille Sachs, Edwin Rühli, Isabelle Kern

Backmatter

Titel: Sustainable Success with Stakeholders
verfasst von: Sybille Sachs
Edwin Rühli
Isabelle Kern
Copyright-Jahr: 2009
Verlag: Palgrave Macmillan UK
Electronic ISBN: 978-0-230-27174-6
Print ISBN: 978-1-349-31051-7
DOI: https://doi.org/10.1057/9780230271746

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