Method for Selection of Company Stakeholders

• Autorzy: Oleksiv I. , Shpak N.
• Języki publikacji: EN

Abstrakty

EN

At the moment the problem of dealing with external environment is an important issue of effective corporate strategic management in the enterprise. One of the factors of company interaction with external environment is company stakeholders. At the moment the theoretical basis of stakeholder analysis is researched insufficiently. The current research pursued the two goals: to show on which stage of strategic management process stakeholder analysis influences corporate activity and to provide effective theoretical and practical ground for the selection of stakeholders. In order to achieve the first goal the main aspects of stakeholder theory are reviewed in the paper. The place of stakeholder analysis in strategic management process is identified. It is argued that the interests of the most influential stakeholders should be considered in corporate goals, strategy and the strategic decision making process due to the “strategic necessity”. The latter means that consideration of the stakeholder influence leads to the increase of corporate performance effectiveness and fi nancial stability. The second objective is achieved through the review of possible techniques that could be used for stakeholder selection. The most appropriate for such purpose techniques are identifi ed by the analysis of their advantageous and disadvantageous. As the result of the review it is proposed to conduct the stakeholder selection basing on application of the Analytic Hierarchy Process (AHP). The example of application of such method for stakeholder selection is presented in the article.

Słowa kluczowe

EN

stakeholders; corporate strategy; system of corporate goals; analytic hierarchy proces

• Wydawca: Polish Academy of Sciences, Branch in Lublin
• Czasopismo: ECONTECHMOD : An International Quarterly Journal on Economics of Technology and Modelling Processes
• Rocznik: 2012
• Tom: Vol. 1, No 3
• Strony: 65–--74
• Opis fizyczny: Bibliogr. 46 poz., rys.

Twórcy

autor

Oleksiv I.

• Department of Management and International Entrepreneurship, Lviv Polytechnic National University, Ukraine

autor

Shpak N.

• Department of Management and International Entrepreneurship, Lviv Polytechnic National University, Ukraine

Bibliografia

• 1. Agle R.B., Mitchell R.K. and Sonnenfeld J.A. 1999. Who Matters to CEOs? An Investigation of Stakeholder Attributes and Salience, Corporate Performance, and CEO Values, Academy of Management Journal, 42:5, 507-525.
• 2. Atkinson A.A., Waterhouse J.H. and Wells R.B. 1997. A Stakeholder Approach to Strategic Performance Measurement, Sloan Management Review, 38:3, 25-37.
• 3. Berman S.L., Wicks A.C., Kotha S. and Jones T.M. 1999. Does Stakeholder Orientation Matter? The Relationship between Stakeholder Management Models and Firm Financial Performance, Academy of Management Journal, 42:5, 488-506.
• 4. Bhushan N. and Rai K. 2004. Strategic Decision Making, London et al.: Springer.
• 5. Bititci U., Carrie A.S. and McDevitt L. 1997. Integrated Performance Measurement Systems: an Audit and Development Guide, The TQM Magazine, 9:1, 46-53.
• 6. Bititci U.S., Suwignjo P. and Carrie A.S. 2001. Strategy Management through Quantitative Modelling of Performance Measurement Systems, International Journal of Production Economics, 69, 15-22.
• 7. Bourgon M., Weick K. and Binkhorst D. 1977.Cognitions in Organizations: and Analysis of Utrecht Jazz Opera, Administrative Science Quarterly, 22, 606-639.
• 8. Cho K.-T. and Kwon C-S. 2004. Hierarchies with Dependence of Technological Alternatives: A Cross-Impact Hierarchy Process, European Journal of Operational Research, 156, 420-432.
• 9. Condon E., Golden B. and Wasil E. 2003. Visualizing Group Decisions in the Analytic Hierarchy Process, Computers & Operations Research, 30, 1435-1445.
• 10. Dickinson T., Saunders I. and Shaw D. 1998. What to Measure about Organization Performance, Quality Magazine, 7, 71–78.
• 11. Donaldson T. and Preston L.E. 1995. The Stakeholder Theory of the Corporation: Concepts, Evidence and implications, The Academy of Management Review, 20:1, 65-91.
• 12. Eden C. 1988. Cognitive Mapping, European Journal of Operational Research, 36, 1-13.
• 13. Eden C. 1992. On the Nature of Cognitive Maps, Journal of Management Studies, 29:3, 261-265.
• 14. Eden C. and Ackerman F. 1998. Making Strategy: The Journey of Strategic Management, London et al.: SAGE Publications.
• 15. Freeman R.E. 1984. Strategic Management, Boston et al.: Pitman.
• 16. Freeman R.E. 2004. The Stakeholder Approach Revisited, Zeitschrift fur Wirtschafts- and Unternehmensethik, 5:3, 228-241.
• 17. Freeman R.E. and Evan W. 1990. A Stakeholder Theory of the Modern Corporation: Kantian Capitalism, in T. Beauchamp, and N. Bowie (eds.), Ethical theory and business, Englewood Cliffs: Prentice Hall.
• 18. Funk K. 2003. Sustainability and Performance, The MIT Sloan Management Review, 44:2, 65-70.
• 19. Garengo P., Stefano B. and Bititci U.S. 2005. Performance Measurement Systems in SMEs: A Review for a Research Agenda, International Journal of Management Reviews, 7:1, 25–47.
• 20. Goodpaster K. 1991. Business Ethics and Stakeholder Analysis, Business Ethics Quarterly 1, 53-73.
• 21. Gordon T. and Hayward H. 1968. Initial Experiments with the Cross Impact Matrix Method of Forecasting, Futures, 1:2, 100-116.
• 22. Hamilton G. 2005. The Pharmaceutical Market Outlook to 2015: Implementing Innovative, Long-term Strategies for Sustainable Future Growth, Business Insights, 131 p.
• 23. Hibon M. 1984. Naïve, Moving, Average, Exponential Smoothing, and Regression Methods, in S. Makridakis (eds.), The Forecasting Accuracy of Major Time Series Methods, Chichester et al.: John Wiley and Sons.
• 24. Huff A.S. 1990. Mapping Strategic Thought, in Anne S. Huff (eds.), Mapping Strategic Thought, Chichester et al.: John Wiley and Sons.
• 25. Jones T.M. and Wicks A.C. 1999. Convergent Stakeholder Theory, The Academy of Management Review, 24:2, 206-221.
• 26. Kaplan R.S. and Norton D.P. 1992. The Balanced Scorecard - Measures that Drive Performance, Harvard Business Review, 70, 71-80.
• 27. Kaplan R.S. and Norton D.P. 1996. The Balanced Scorecard: Translating Strategy into Action, Boston: Harvard Business School.
• 28. Maroczy L. and Goldberg J. 1995. A Method for Eliciting and Comparing Casual Maps, Journal of Management, 21:2, 305-333.
• 29. Maskell B.H. 1992. Performance Measurement for World Class Manufacturing: A Model for American Companies, Cambridge: Productivity Press.
• 30. Mendelow A.L. 1987. Stakeholder Analysis for Strategic Planning and Implementation, in W.R. King, and D.I. Cleland, Strategic Planning and Management Handbook, New York: Van Nostrand Reinhold Company.
• 31. Mintzberg H. 1994. The Rise and Fall of Strategic Planning, New York et al.: Free Press.
• 32. Mitchell R.K., Agle B.R. and Wood D.J. 1997. Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts, The Academy of Management Review 22:4, 853-886.
• 33. Mountinho L. 1993. The Use of the Analytic Hierarchy Process (AHP) in Goal Setting and Goal Assessment: the Case of Professional Services Companies, Journal of Professional Services Marketing, 8:2, 97-114.
• 34. Neeley A., Adams C. and M. Kennerly 2002. The Performance Prism: The Scorecard for Measuring and Management Business Success, London et al.: Financial Times Prentice Hall.
• 35. Pettigrew A. 1985. The Awaking Giant: Continuity and Change in ICI, Oxford: Blackwell.
• 36. Pfeffer J. 1981. Power in Organizations, Marshfield, MA: Pitman.
• 37. Rangone A. 1996. An Analytical Hierarchy Process Framework for Comparing the Overall Performance of Manufacturing Departments, International Journal of Operations & Production Management, 16:8, 104-119.
• 38. Saaty T.L. 1980. The Analytic Hierarchy Process: Planning, Priority Setting, Resource Allocation, New York: McGraw-Hill International Book Co.
• 39. Saaty T.L. 1990. Decision Making for Leaders, Pittsburgh: University of Pittsburgh.
• 40. Saaty T.L. 1996. Decision Making with Dependence and Feedback: The Analytic Network Process, Pittsburgh: RWS Publications.
• 41. Saaty T.L. and Vargas L.G. 2001. Models, Methods, Concepts and Application of the Analytic Hierarchy Process, Boston et al.: Kluwer Academic Publishers.
• 42. Sarkis J. 2003. Quantitative Models for Performance, International Journal of Production Economics, 86, 81-90.
• 43. Suwignjo P., Bititci U.S. and Carrie A.S. 2000. Quantitative Models for Performance Measurement System, International Journal of Production Economics, 64, 231-241.
• 44. Thompson A.A. and Strickland III A.J. 2001. Strategic Management. New York: McGraw-Hill Companies, Inc.
• 45. Walker, S.F. and Marr J.W. 2001. Stakeholder Power: A Winning Strategy for Building Stakeholder Commitment and Driving Corporate Growth, Cambridge: Perseus Publishing.
• 46. Williamson O.E. 1984. The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting, New York: Free Press; London: Collier Macmillan