This work underscores the importance of answering the question: who are organizational stakeholders? It argues that stakeholder theory is a normative management theory, and there is a need to differentiate between stakeholder and non-stakeholder firms. It further argues that the overall organizational stakeholder orientation indicates how narrowly or broadly organizations define their stakeholders. Therefore, this work attempts to provide a stakeholder salience scheme for stakeholder organizations, i.e., organizations with accommodative and proactive stakeholder orientations. In the process, this work reviews key (...) scholarly contributions and points out some potential weaknesses in these contributions with an aim to develop a new stakeholder typology. This work contributes to the existing literature by: introducing a contingent variable, i.e., organizational strategy, in a stakeholder typology scheme; reaffirming the normative aspect of stakeholder theory by placing normative considerations at the center of stakeholder salience typology; and improving the descriptive validity of stakeholder theory by adding a new stakeholder variable, i.e., organization, in the presented stakeholder salience typology scheme. (shrink)

Stakeholder theory is widely accepted but elementary aspects remain indeterminate as the term ‘stakeholder’ is an essentially contested concept, being variously describable, internally complex and open in character. Such contestability is highly problematic for theory development and empirical testing. The extent of essential contestability, previously unknown, is demonstrated in this paper through a bounded systematic review of 593 different stakeholder theory definitions. As an essentially contested concept, the solution does not lie in a universal stakeholder definition, but in debating the (...) boundaries of stakeholder identification. To this end, this paper presents the first major attempt at sorting, filtering and ordering stakeholder theory and stakeholder definitions to produce a comprehensive, multi-dimensional classification of stakeholder theory. The constructs of the classification model juxtapose existing stakeholder theories and contributions from across the multi-contextual applications of stakeholder theory, thereby providing an invaluable overview of what we know about stakeholder theory in one model. The classification model is then tested with positive results. The paper concludes with a comprehensive discussion of the implications of classification stakeholder theory definitions, which has for future research. (shrink)

The purpose of this article is to transcend the assumption that stakeholder engagement is necessarily a responsible practice. Stakeholder engagement is traditionally seen as corporate responsibility in action. Indeed, in some literatures there exists an assumption that the more an organisation engages with its stakeholders, the more it is responsible. This simple 'more is better' view of stakeholder engagement belies the true complexity of the relationship between engagement and corporate responsibility. Stakeholder engagement may be understood in a variety of different (...) ways and from a variety of different theoretical perspectives. Stakeholder engagement may or may not involve a moral dimension and, hence, is primarily a morally neutral practice. It is therefore argued that stakeholder engagement must be seen as separate from, but related to, corporate responsibility. A model that reflects the multifaceted relationship between the two constructs is proposed. This model not only allows the coincidence of stakeholder engagement with corporate responsibility, but also allows for the development of the notion of corporate irresponsibility. (shrink)

The problem of opportunity discovery is at the heart of entrepreneurial activity. Cognitive limitations determine the search for and the analysis of information and, as a consequence, constrain the identification of opportunities. Moreover, typical personal characteristics – locus of control, need for independence and need for achievement – suggest that entrepreneurs will tend to take a central position in their stakeholder environments and thus fail to adapt to the complexity of stakeholder relationships in their entrepreneurial activity. We approach this problem (...) by adopting a network perspective on stakeholder management. We propose a heuristic approach of stakeholder analysis, which requires two mappings of the entrepreneurial constituents. The first mapping focuses on current interactions between the entrepreneur and their stakeholders, while the second focuses on a specific issue and the stakeholders that constitute it. In effect, such a stakeholder analysis requires entrepreneurs to use the complexity of stakeholder relationships in order to go beyond their cognitive limitations and thus facilitate the discovery of new opportunities. As we will argue, this has clear implications for the ethics and activities of entrepreneurs. (shrink)

The present paper analyses how top managers construct the meaning of sustainable human resource management and its responsibility areas and how they identify and prioritize stakeholders in sustainable HRM. The empirical data were collected as part of the Finnish HR Barometer inquiry. A qualitative analysis reveals four dimensions of sustainable HRM: Justice and equality, transparent HR practices, profitability, and employee well-being. It also reveals four broader responsibility areas: Legal and ethical, managerial, social, and economic. Contrary to the prior green HRM (...) literature, ecological responsibility was largely ignored. The study also reveals a wide range of stakeholders, specifically, owners, managers, employees, customers, and employee representatives, as well as their special roles and requirements for sustainable HRM. These findings contribute to the literature of sustainable HRM by illustrating the dimensions and broader responsibilities of sustainable HRM as seen by top managers. Their conceptions of sustainable HRM are largely neglected in the prior literature despite their crucial role in legitimating HRM and thus sustainable HRM in companies. These results also contribute to the theory of stakeholder salience in the sustainable HRM context from the viewpoint of top managers. (shrink)