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A Relationship between Stakeholder Management and Business Performance in the Czech Republic

Author

Listed:
  • Ondrej Castek

    (Masaryk University, Czech Republic)

  • Martin Cenek

    (Masaryk University, Czech Republic)

Abstract

The quality of a relationship with stakeholders is often perceived as a way to a competitive advantage of a company. In other words, many authors have defended a hypothesis that the application of stakeholder management leads to a higher business performance. However, empirical verification of such a hypothesis is not trivial. In the first place, the operationalization of the stakeholder management, quality of the relationship towards stakeholders or the importance of stakeholders is a challenge by itself. This article therefore aims to review empirical research of the relationship between stakeholder management and performance of companies located in the Czech Republic. Unfortunately, the authors conclude that studies with factual results from the Czech Republic are almost none. Only two studies explicitly examine the relationship between stakeholder management and business performance. On top of that, both of these studies suffer from an inadequate research design.

Suggested Citation

  • Ondrej Castek & Martin Cenek, 2017. "A Relationship between Stakeholder Management and Business Performance in the Czech Republic," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 15(2 (Summer), pages 187-207.
    • Handle: RePEc:mgt:youmgt:v:15:y:2017:i:2:p:187-207
    DOI: 10.26493/1854-6935.15.187-207
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    References listed on IDEAS

    as
    1. Jeffrey S. Harrison & Douglas A. Bosse & Robert A. Phillips, 2010. "Managing for stakeholders, stakeholder utility functions, and competitive advantage," Strategic Management Journal, Wiley Blackwell, vol. 31(1), pages 58-74, January.
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    More about this item

    Keywords

    stakeholder management; stakeholder relationship; stakeholder importance; business performance; empirical research;
    All these keywords.

    JEL classification:

    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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