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Stakeholder Management Theory: A Critical Theory Perspective

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  • Reed, Darryl

Abstract

This article elaborates a normative Stakeholder Management Theory (SHMT) from a critical theory perspective. The paper argues that the normative theory elaborated by critical theorists such as Habermas exhibits important advantages over its rivals and that these advantages provide the basis for a theoretically more adequate version of SHMT. In the first section of the paper an account is given of normative theory from a critical theory perspective and its advantages over rival traditions. A key characteristic of the critical theory approach is expressed as a distinction between three different normative realms, viz., legitimacy, morality, and ethics. In the second section, the outlines of a theory of stakeholder management are provided. First, three basic tasks of a theoretically adequate treatment of the normative analysis of stakeholder management are identified. This is followed by a discussion of how a critical theory approach to SHMT is able to fulfill these three tasks.

Suggested Citation

  • Reed, Darryl, 1999. "Stakeholder Management Theory: A Critical Theory Perspective," Business Ethics Quarterly, Cambridge University Press, vol. 9(3), pages 453-483, July.
    • Handle: RePEc:cup:buetqu:v:9:y:1999:i:03:p:453-483_00
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    Cited by:

    1. G. Abord-Hugon Nonet & T. Gössling & R. Tulder & J. M. Bryson, 2022. "Multi-stakeholder Engagement for the Sustainable Development Goals: Introduction to the Special Issue," Journal of Business Ethics, Springer, vol. 180(4), pages 945-957, November.
    2. David Noack & Douglas R. Miller & Dustin Smith, 2019. "Let Me Make It Up to You: Understanding the Mitigative Ability of Corporate Social Responsibility Following Product Recalls," Journal of Business Ethics, Springer, vol. 157(2), pages 431-446, June.
    3. Nuno Calheiros-Lobo & José Vasconcelos Ferreira & Manuel Au-Yong-Oliveira, 2023. "SME Internationalization and Export Performance: A Systematic Review with Bibliometric Analysis," Sustainability, MDPI, vol. 15(11), pages 1-36, May.
    4. Dirk Gilbert & Michael Behnam, 2009. "Advancing Integrative Social Contracts Theory: A Habermasian Perspective," Journal of Business Ethics, Springer, vol. 89(2), pages 215-234, October.
    5. Neamtu Florentina, 2013. "Stakeholders, The Determinant Factors In Development And Operationalization Of E-Governance In Romania," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 595-604, December.
    6. Ana Clara Borrego & Francisco Alegria Carreira & Pedro Pardal & Rute Abreu, 2022. "Social Responsibility and SDG 8 during the First Wave of the COVID-19 Pandemic: The Role of Chartered Accountants in Portugal," Sustainability, MDPI, vol. 14(14), pages 1-22, July.
    7. Cedric Dawkins, 2014. "The Principle of Good Faith: Toward Substantive Stakeholder Engagement," Journal of Business Ethics, Springer, vol. 121(2), pages 283-295, May.
    8. David Weitzner & Yuval Deutsch, 2023. "Harm Reduction, Solidarity, and Social Mobility as Target Functions: A Rortian Approach to Stakeholder Theory," Journal of Business Ethics, Springer, vol. 186(3), pages 479-492, September.
    9. Zhe Ouyang & Xiaojiao Wang & Yang Liu, 2024. "The use of corporate social responsibility in response to product‐harm crisis: How do stock market reactions matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 3081-3097, July.
    10. Samantha Miles, 2012. "Stakeholder: Essentially Contested or Just Confused?," Journal of Business Ethics, Springer, vol. 108(3), pages 285-298, July.
    11. Mingers, John, 2011. "Ethics and OR: Operationalising discourse ethics," European Journal of Operational Research, Elsevier, vol. 210(1), pages 114-124, April.
    12. Rodríguez Fernández, José Miguel, 2006. "La responsabilidad social de la empresa: ¿un medio o un fin?," Revista de Dirección y Administración de Empresas, Universidad del País Vasco - Escuela Universitaria de Estudios Empresariales de San Sebastián.
    13. Christel Decock Good, 2001. "Les Determinants De L'Implication Mecenique Des Entreprises : Un Test De La Theorie Des Parties Prenantes," Post-Print halshs-00584620, HAL.
    14. Nicolae BIBU & Husein Saris, 2017. "Managing the Process of Stakeholders Involvement in Junior High-School in Arab Sector in Israel and Its Effect on Pupils, Teachers and Parents," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 18(2), pages 200-216, May.
    15. Lauren Purnell & R. Freeman, 2012. "Stakeholder Theory, Fact/Value Dichotomy, and the Normative Core: How Wall Street Stops the Ethics Conversation," Journal of Business Ethics, Springer, vol. 109(1), pages 109-116, August.
    16. Davide Giacomini & Anna Simonetto, 2020. "How Mayors Perceive the Influence of Social Media on the Policy Cycle," Public Organization Review, Springer, vol. 20(4), pages 735-752, December.
    17. Paulinus Woka Ihuah & David Eaton, 2016. "Operational framework for sustainable social (public) housing estate management in Nigeria," African Journal of Economic and Sustainable Development, Inderscience Enterprises Ltd, vol. 5(2), pages 103-118.
    18. Joseph, George, 2012. "Ambiguous but tethered: An accounting basis for sustainability reporting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 23(2), pages 93-106.
    19. Silvia Biraghi & Rossella Gambetti & Stefania Romenti, 2017. "Stakeholder Engagement beyond the Tension between Idealism and Practical Concerns," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(2), pages 1-14, January.
    20. Ploae Cătălin & Năstase Marian & Vălimăreanu Ileana, 2017. "The Internationalisation of Higher Education, as Keystone for Developement in Eastern Europe. A Case Study on Bucharest University of Economic Studies in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 63-68, June.
    21. Tariq Javed & Fareyha Said, 2022. "Business Response to Natural Disaster Mitigation (Covid-19): A Case From Pakistan," SAGE Open, , vol. 12(1), pages 21582440211, January.
    22. Louis Ndjetcheu, 2012. "An African critical interpretation of the positive theory of accounting of Watts and Zimmerman (1978, 1980, 1986)," African Journal of Accounting, Auditing and Finance, Inderscience Enterprises Ltd, vol. 1(1), pages 25-39.

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