Stakeholders Matter: A New Paradigm for Strategy in Society (Business, Value Creation, and Society) - Softcover

Sachs, Sybille; Rühli, Edwin

Softcover

ISBN 10: 1107624630 ISBN 13: 9781107624634

Publisher: Cambridge University Press, 2013

Synopsis

The dominant shareholder-value model has led to mismanagement, market failure and a boost to regulation, as spectacularly demonstrated by the events surrounding the recent financial crisis. Stakeholders Matter challenges the basic assumptions of this model, in particular traditional economic views on the theory of the firm and dominant theories of strategic management, and develops a new understanding of value creation away from pure self-interest toward mutuality. This new 'stakeholder paradigm' is based on a network view, whereby mutuality enhances benefits and reduces risks for the firm and its stakeholders. The understanding of mutual value creation is operationalized according to the license to operate, to innovate and to compete. The book develops a vision for a strategy in society in which, rather than the invisible hand of the market, it the visible hands of the firm and the stakeholders that lead to an overall increase in the welfare of society.

About this title

Book Description:

The dominant shareholder-value model has led to mismanagement, market failure and a boost to regulation. This book challenges the basic assumptions of this model and develops a new understanding of value creation based on mutuality rather than self-interest.

About the Author:

Sybille Sachs is Professor and Head of the Institute for Strategic Management: Stakeholder View at the University of Applied Sciences Zurich (HWZ). In addition, she is an affiliate professor of the University of Zurich, where she established the module for Business and Society in 2000. She has published numerous articles and books in the fields of strategic management and stakeholder management and is co-author of the book Redefining the Corporation (2002).

Edwin Rühli is Professor Emeritus for Business Administration at the University of Zurich. He is also Senior Advisor at the Institute for Strategic Management: Stakeholder View of the University of Applied Sciences in Zurich. He is the author of the groundbreaking German management book Unternehmungsführung I-III and has published more than 150 peer-reviewed publications in the fields of international management, corporate governance, strategic management and stakeholder management.

About this edition

• Publisher: Cambridge University Press
• Publication date: 2013
• ISBN 10: 1107624630
• ISBN 13: 9781107624634
• Binding: Paperback
• Number of pages: 298