Stakeholder Theory. The State of the Art
In 1984, R. Edward Freeman published his landmark book, Strategic Management: A Stakeholder Approach, a work that set the agenda for what we now call stakeholder theory. In the intervening years, the literature on stakeholder theory has become vast and diverse. This book examines this body of research and assesses its relevance for our understanding of modern business. Beginning with a discussion of the origins and development of stakeholder theory, it shows how this corpus of theory has influenced a variety of different fields, including strategic management, finance, accounting, management, marketing, law, health care, public policy, and environment. It also features in-depth discussions of two important areas that stakeholder theory has helped to shape and define: business ethics and corporate social responsibility. The book concludes by arguing that we should re-frame capitalism in the terms of stakeholder theory so that we come to see business as creating value for stakeholders.
This book offers a case-study approach to stakeholder theory that moves beyond theoretical analysis to the applied. As stakeholder theory has moved into the mainstream of management thinking in business ethics and a number of the management disciplines, there is an increasing need to explore the subtleties of stakeholder engagement via examples from practice. The case studies in this volume explore a number of aspects of the idea of stakeholder engagement, via the method of clinical case studies. Edited by leading scholars in the field of business ethics and stakeholder theory, this text affords a solid grounding in theory, brought to new levels of applied understanding of stakeholder engagement.
From the Preface by R. Edward Freeman, University Professor, Darden School of Business, University of Virginia:
This book is a terrific analysis of the issues and challenges of the modern
food and beverage industry. And, it breaks new theoretical ground in terms of Corporate Social Responsibility (CSR) and Stakeholder Theory (ST). However,
since the book is grounded in the practices of the industry it does not theorise at the expense of the real world. Rather it develops the ideas of CSR and ST in a reasonable way and shows how they can be understood through the industry.
Thus, we learn simultaneously about theory and practice. This book will repay a close reading in many practical and theoretical insights. It is a must read for all students of CSR and ST, and every executive in the food and beverage industry should gain the many insights that the author has developed.
Journal of Business Ethics (2017)
The paper considers two main cases of how the creative arts can inform a greater appreciation of human dignity. The first case explores a form of theater, Commedia dell’Arte that has deep roots in Italian culture. The second recounts a set of theater exercises done with very minimal direction or self-direction in executive education and MBA courses at the Darden School, University of Virginia, in the United States. In both cases we highlight how the creative arts can be important for promoting human dignity in organizations, and how they can lead to a more authentic conversation about values, ethics, and meaning.