My Own Book Review. Strategic Management: A Stakeholder Approach

Freeman, R. Edward

doi:10.37725/mgmt.v25.8519

Cited by 1,380 publications

(2,243 citation statements)

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“…Next, we build an initial understanding of how stakeholders can contribute to market creation of innovation and commercialization. According to the well-established stakeholder theory (Freeman, 1984), stakeholders include diverse groups or individuals involved in achieving an organization's objectives. Studies applying the stakeholder approach to innovation development (Driessen and Hillebrand, 2013) and commercialization have identified diverse contributive stakeholders.…”

Section: Stakeholders Contributing To Innovation Via Commercializatio...mentioning

confidence: 99%

Stakeholder contributions to commercialization and market creation of a radical innovation: bridging the micro- and macro levels

Engez

Aarikka‐Stenroos

2023

JBIM

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Purpose Successful commercialization is crucial to innovative firms, but further investigation is needed on how diverse stakeholders can contribute to the commercialization of a radical innovation that requires particular market creation support. This paper aims to, therefore, analyze the key stakeholders and their contributive activities in commercialization and market creation, particularly in the case of radical innovations. Design/methodology/approach This study relies on qualitative research design including interviews with key stakeholders, such as regulators, scientists, experts, licensing partners, core company representatives and extensive secondary data. This single-case study concerns a functional food product, which is a radical innovation requiring the development of a novel product category positioned between the food and medicine categories in global market settings. Since its market launch in 1995, the involvement of multiple stakeholders was needed for its successful commercialization in over 30 countries. Findings Results uncover the contributions of diverse stakeholders to commercialization and market creation, particularly of radical innovation. Stakeholders performed market creation activities such as regulating the marketing and labeling of food products, conducting safety assessments, revealing and validating the positive health effects of the novelty and raising awareness of healthy living and cardiovascular health. The commercialization activities included distributing the products overseas, applying the ingredient to different food products and making the products available for users. Research limitations/implications This single-case study provides an overview of the positive stakeholder activities with contributions to market creation and commercialization of functional food innovations. Although the user perspective was not included in the empirical part of this study because of our focus on B2B actors, users of the innovation can contribute to R&D activities to a great extent. Originality/value The developed framework of stakeholders’ contributive activities in radical innovation commercialization and market creation contributes to literature discussing market creation as well as commercialization within the marketing and innovation management research fields. This work also generates practical advice for managers who commercialize (radical) innovations.

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Section: Stakeholders Contributing To Innovation Via Commercializatio...mentioning

confidence: 99%

Stakeholder contributions to commercialization and market creation of a radical innovation: bridging the micro- and macro levels

Engez

Aarikka‐Stenroos

2023

JBIM

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“…We adopt a stakeholder framework to explore the awareness of sand substitutes in the construction industry to determine whether there are differences among stakeholder types. A general definition of stakeholders in a business context is "any group or individual who can affect, or be affected by, the achievement of a corporation's purpose" [47]. A definition of stakeholders specific to project management is included in the PMBOK Guide: "A stakeholder is an individual, group, or organization who may affect, be affected by or perceive itself to be affected by a decision, activity, or outcome of a project" [48].…”

Section: Stakeholders In Construction Sustainability Projectsmentioning

confidence: 99%

Sustainable Sand Substitutes in the Construction Industry in the United States and Canada: Assessing Stakeholder Awareness

et al. 2022

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The United Nations has declared a global sand crisis, called for reduced sand consumption, and proposed solutions to address the crisis, including adopting sustainable substitutes for sand. The construction industry is a major consumer of sand, yet a recent study found a very low level of awareness by stakeholders of the crisis. The purpose of this study is to assess the familiarity of construction industry stakeholders with 27 sand substitute materials, grouped into five components that emerged from a factor analysis. Data were collected using a survey designed by the authors. Respondents consisted of 156 construction industry professionals located in 35 US states and 7 Canadian provinces. Stakeholders were classified according to a framework considering the level of power and interest of each stakeholder in sustainable construction projects. Hypotheses of no differences in awareness for two types of stakeholder groups were generally supported. First, no differences were found for decision makers responsible for ordering sand vs. non-decision makers. Second, for professional roles, academics were more familiar with some substitutes than those in other roles. The article concludes with implications for research and practice, with recommendations on how to increase awareness of sand substitutes among stakeholders in the construction industry.

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“…This paper for the definition of the transformation of scientific and technological achievements using the law of the People's Republic of China on promoting the transformation of scientific and technological achievements of its interpretation: in order to improve the level of productivity of scientific research and technology development of the followup test, development, application, promotion until the formation of new products, new technology, new materials, the development of new industries and other activities. Freeman (1984) defines stakeholders as "a group or individual who can affect the realization of or is affected by organizational goals", a concept that covers all the subjects related to organizational goals and is too broad for this study [1]. On this basis, Clarkson (1994) proposed that stakeholders are the groups that invest manpower, capital and other factors and bear certain risks [2], based on the reality of China is defined as follows: those that can directly participate in each link of the transformation of scientific and technological achievements, or invest manpower, capital and other factors to bear certain risks.…”

Section: Literature Reviewmentioning

confidence: 99%

Policy Optimization Strategy of S&T Achievement Transformation from Stakeholder Perspective

Ma¹,

Pang²

2022

IJEH

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At present, China has built an independent transformation mechanism of scientific and technological achievements. Although each subject has a strong desire to transform scientific and technological achievements, how to promote the operation of the transformation mechanism of scientific and technological achievements is particularly critical.This paper analyzes the needs of each subject in the transformation of scientific and technological achievements from the perspective of stakeholders, and according to the actual situation from scientific research institutions, enterprises, governments and relevant departments, financial institutions, policy optimization strategies, in order to provide countermeasures for improving the efficiency of scientific and technological achievements transformation.

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My Own Book Review. Strategic Management: A Stakeholder Approach

Cited by 1,380 publications

References 0 publications

Stakeholder contributions to commercialization and market creation of a radical innovation: bridging the micro- and macro levels

Stakeholder contributions to commercialization and market creation of a radical innovation: bridging the micro- and macro levels

Sustainable Sand Substitutes in the Construction Industry in the United States and Canada: Assessing Stakeholder Awareness

Policy Optimization Strategy of S&T Achievement Transformation from Stakeholder Perspective

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