High performance stakeholder management: what is needed?

Abstract

Purpose Stakeholder management is often primarily seen as maintaining external relations. However, it also has specific consequences for the internal processes of an organization and the behavior of its people. The authors argue that an organization that is meeting the standards of the high-performance organization (HPO) is able to effectively maintain valuable relationships with its stakeholders. The authors discuss in this paper how high-performance stakeholder management can be achieved and applied to stakeholder relationships. Design/methodology/approach Based on a discussion of the stakeholder management and the HPO framework concepts the authors show that good stakeholder management requires strong communication and dialogue within an organization, which in turn requires a strong internal organization, which the HPO framework can offer. This paper is written from the assumption that the two theories reinforce each other in their aims and methodologies. This argument is based on a case study. Findings The authors illustrate the argument with the application of both concepts at a case company. The case study makes clear that an organization that develops stakeholder management will be wise to examine its own internal quality and strength, using the HPO framework. If the organization views the information that comes from stakeholder management as very valuable, then internal organizational consequences must follow. Originality/value The concepts of stakeholder management and HPO Framework have not been connected before, neither in a theoretical nor a practical way. This offers the opportunity for theorists to further deepen the connection between the two, and practitioners to benefit from strengthening their stakeholder management.

The Interaction Effect of Stakeholder Engagement on Managerial Competencies- Financial Performance Nexus; Empirical Evidence from Microfinance Institutions in Uganda

“…First, scholars concentrated on developed countries such as Pakistan (Khan et al, 2021& Javed et al, 2019, ignoring developing countries like Uganda. Second, studies (Ontita & Kinyua, 2020;Remme & de Waal, 2020) investigated stakeholder management as a predictor variable ignoring its differential effect on the managerial competencies-financial performance matrix. Besides, studies investigated the effect of stakeholder management in other fields such as green logistics practices (Baah et al, 2020), commercial banks (Ontita & Kinyua, 2020), ecological settings (Khojastehpour & Shams, 2020), leaving stakeholder management in a microfinance environment largely unexplored.…”

La Ética en los Negocios: Una Perspectiva Desde los Stakeholders

“…234), con lo que la relación de los administradores con los grupos de interés toma un carácter fiduciario (Freeman, 2007). En este sentido, los valores éticos son imprescindibles en los negocios (Freeman, Wicks, & Parmar, 2004) y deben guiar al gerente al plantear tanto los objetivos de la empresa como la clase de relaciones que le interesa y necesita generar con los grupos de interés para conseguir sus objetivos (Kreitner, 1983; Freeman, Wicks, & Parmar, 2004;Erkul, Yitmen, & Celik, 2019;Remme & de Waal, 2020).…”

“…Lo que los autores Freeman, Wicks, y Parmar (2004) plantean que en la teoría de los stakeholders los valores éticos son esenciales para determinar la manera en que se deben realizar los negocios. Así, orientan a los gerentes a tener claros sus propósitos con el negocio y sus grupos de interés: en cuanto a qué tipo de relaciones necesitan desarrollar para cumplir su propósito (Kreitner, 1983;Freeman, Wicks, & Parmar, 2004;Erkul, Yitmen, & Celik, 2019;Remme & de Waal, 2020). Los planteamientos anteriores permiten entender que dicha teoría puede ser utilizada para establecer la relación entre la ética corporativa y los negocios, tal como lo expresó Freeman en (1994).…”

Sustainable Business Model of Modern Enterprises in Conditions of Uncertainty and Turbulence

“…Methodical bases for assessing the relationship between enterprises and stakeholders are studied in the works of such scientists as: N. Butenko [21], P. Drucker [22], K. Govindan, K. Shankar [23], Kaminski, R.; Marcysiak, T.; Prus [24], I. Nesterova [25], J. Remme, A. De Waal [26], I. Oleksiv [27], K. Richter-Akulenko, G. Fyliuk [28], O. Seroka-Stolka, K. Fijorek [29], C. Temperli [30] and others.…”