Redefining the Corporation: Stakeholder Management and Organizational Wealth

James E. Post; Lee E. Preston; Sybille Sachs

Published by Stanford University Press 2002

Redefining the Corporation

Stakeholder Management and Organizational Wealth

James E. Post , Lee E. Preston and Sybille Sachs

https://doi.org/10.1515/9781503619692

Overview
Contents

About this book

The modern corporation is an institution of enormous economic power and social impact. Corporations have grown in size and numbers all over the world because of their ability to mobilize productive resources and create new wealth. The evolution of the corporation has given rise to new opportunities and challenges that require a redefinition of the corporation and its objectives. The legitimacy of the corporation as an institution, its "license to operate" within society, depends not only on its success in wealth creation but also on its ability to meet the expectations of diverse constituents who contribute to its existence and success. These constituencies and interests are the corporation's stakeholders—resource providers, customers, suppliers, alliance partners, and social and political actors. Consequently, the corporation must be seen as an institution engaged in mobilizing resources to create wealth and benefits for all its stakeholders. This book presents a stakeholder view of the corporation in both theoretical and practical terms. Its central proposition is that organizational wealth is created (or destroyed) through a corporation's interactions with its stakeholders. Effective stakeholder management develops and utilizes relationships between a corporation and its stakeholders for mutual benefit, thereby accomplishing the fundamental purpose of wealth creation. Following the empirical maxim that "Corporations are what they do," the authors examine the stakeholder management practices of three major corporations: Cummins Engine Company, Motorola, and the Royal Dutch/Shell Group. These companies are very different, and their current stakeholder management policies and practices have evolved in very different ways. However, they share a common commitment to humanistic values and to continuous learning. Their varied experiences illustrate some of the opportunities and challenges of stakeholder management, and confirm the appropriateness of the stakeholder view of the corporation as a basis for strategy and policy.

Topics

Frontmatter Publicly Available Download PDF	i
CONTENTS Publicly Available Download PDF	vii
List of Exhibits, Figures, and Tables Publicly Available Download PDF	xi
Acknowledgments Publicly Available Download PDF	xiii
Introduction Requires Authentication Unlicensed Licensed Download PDF	1
Chapter 1 What Is the Corporation? Requires Authentication Unlicensed Licensed Download PDF	7
Chapter 2 Organizational Wealth and the Stakeholder View Requires Authentication Unlicensed Licensed Download PDF	35
Chapter 3 Research Design and Critical Issues: Three Companies Requires Authentication Unlicensed Licensed Download PDF	57
Chapter4 The Strategic Role of Values Requires Authentication Unlicensed Licensed Download PDF	79
Chapter 5 Strategic Response to Competitive Challenges Requires Authentication Unlicensed Licensed Download PDF	113
Chapter6 Strategic Response to Societal Challenges Requires Authentication Unlicensed Licensed Download PDF	139
Chapter 7 Globalization: Multinationals in China Requires Authentication Unlicensed Licensed Download PDF	165
Chapter 8 Implementing Stakeholder Management: Learning and Responding Requires Authentication Unlicensed Licensed Download PDF	197
Chapter9 The Stakeholder View: Conclusions and Implications Requires Authentication Unlicensed Licensed Download PDF	229
CASE STUDIES Requires Authentication Unlicensed Licensed Download PDF	257
Case Study A: Cummins Requires Authentication Unlicensed Licensed Download PDF	259
Case Study B: Motorola Requires Authentication Unlicensed Licensed Download PDF	265
Case Study C: Shell Requires Authentication Unlicensed Licensed Download PDF	275
References Requires Authentication Unlicensed Licensed Download PDF	283
About the Authors Requires Authentication Unlicensed Licensed Download PDF	303
Index Requires Authentication Unlicensed Licensed Download PDF	305

(Deutsch)

Language: English
Publisher: Stanford University Press
Audience: College/higher education;
Pages
- Main content: 376
Keywords: Business -- Sustainability and Corporate Responsibility; Business -- Organizations and Management Theory

eBook

Published: April 16, 2002
ISBN: 9781503619692