Evolution of stakeholder management approach in business: a literature review
by Shireesh; Sushil Kumar
International Journal of Business and Emerging Markets (IJBEM), Vol. 10, No. 2, 2018

Abstract: Stakeholder management approach gained ground after R. Edward Freeman popularised the term and concept as a strategic management tool for business. Later, business ethics literature described stakeholder approach from a normative theory perspective and CSR theorists used the concept as a basis to describe a firm's social responsibility. Hence, we review the existing literature in the development of stakeholder management approach as a strategy for business and also as a normative concept. The paper reviews corporate social responsibility (CSR) literature to explore linkages between CSR and stakeholder management approach. CSR literature points to a direct link between stakeholder-oriented thinking and a firm's commitment to CSR programs. Contemporary scholarly work highlights the omnipresence of stakeholder management approach. Stakeholder approach continues to inspire businesses to behave responsibly and contribute towards welfare of communities however, theoretical inadequacy and lack of consensus among business and ethics scholars limit a wider adoption of the concept.

Online publication date: Fri, 13-Apr-2018

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Business and Emerging Markets (IJBEM):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com