Managerial Stakeholder Theory - Essay
Managerial Stakeholder Theory
To predict real-life phenomena we need theories. Similarly, stakeholder theory is a theory which is used to explain the phenomena of motivation for corporate social disclosures. This research work is based on the concept of stakeholder theory and its practical applications in predicting the phenomena of corporate social disclosures (van der Laan 2009).
Further there will be explanation of Managerial stakeholder theory. The concept of stakeholder theory has got popularity among corporate world, managers, media and academics. Concept of Stakeholder management theory is very much related to business ethics and it has dominated the literature of business ethics. In doing business values become a necessary part of the organization and stakeholder theory starts from this assumption. Stakeholder theory explains the behavior of managers towards their stakeholders and also tells us how the managers want to do the business. The theory also clears that what kind of relationship managers want with their stakeholders and what kind of relationship they should have (Aarhus School of Business 2004).
There will also be a brief history of stakeholder theory and its role in explaining the motivation for corporate social disclosures. There are two theories which are offered to describe the phenomena of motivation for the corporate social disclosures. First one is managerial stakeholder theory and another is legitimacy theory. Legitimacy theory is not our concern here as it says that corporate social disclosures are voluntary in nature and are part of process of legitimating (Crane & Ruebottom 2011).
An article “The role of theory in explaining motivation for corporate social disclosures: voluntary disclosures v/s solicited disclosure” from the journal “Australasian accounting business and finance journal” is considered to complete the assessment. The article is a good source of information for the topic stakeholder theory as it is currently
To predict real-life phenomena we need theories. Similarly, stakeholder theory is a theory which is used to explain the phenomena of motivation for corporate social disclosures. This research work is based on the concept of stakeholder theory and its practical applications in predicting the phenomena of corporate social disclosures (van der Laan 2009).
Further there will be explanation of Managerial stakeholder theory. The concept of stakeholder theory has got popularity among corporate world, managers, media and academics. Concept of Stakeholder management theory is very much related to business ethics and it has dominated the literature of business ethics. In doing business values become a necessary part of the organization and stakeholder theory starts from this assumption. Stakeholder theory explains the behavior of managers towards their stakeholders and also tells us how the managers want to do the business. The theory also clears that what kind of relationship managers want with their stakeholders and what kind of relationship they should have (Aarhus School of Business 2004).
There will also be a brief history of stakeholder theory and its role in explaining the motivation for corporate social disclosures. There are two theories which are offered to describe the phenomena of motivation for the corporate social disclosures. First one is managerial stakeholder theory and another is legitimacy theory. Legitimacy theory is not our concern here as it says that corporate social disclosures are voluntary in nature and are part of process of legitimating (Crane & Ruebottom 2011).
An article “The role of theory in explaining motivation for corporate social disclosures: voluntary disclosures v/s solicited disclosure” from the journal “Australasian accounting business and finance journal” is considered to complete the assessment. The article is a good source of information for the topic stakeholder theory as it is currently
References: Ruebottom, T & Crane, A 2011, Stakeholder theory and social identity: Rethinking stakeholder identification, J Bus Ethics, vol. 102, pp. 77-87. Laan, S 2009, The role of theory in explaining motivation for corporate social disclosure: voluntary disclosure vs ‘solicited’ disclosure, Australasian accounting business and finance journal, vol. 3, no. 4. Reed, D 1999, Stakeholder management theory: a critical theory perspective, Accessed on 3 august 2012, http://www.yorku.ca/dreed/pdf/Stakeholder-Mgmt-Critical-Theory.pdf Fonatine, C, Haarman, A & Schmid, S 2006, The Stakeholder theory, Accessed on 3 August 2012, http://www.yorku.ca/dreed/pdf/Stakeholder-Mgmt-Critical-Theory.pdf Colorado community colleges 2012, five criteria for evaluating web pages, Viewed on 3 August 2012, http://www.ccconline.org/Library_Resources/Evaluating_Sources/Five_Criteria Heath, J & Norman, W 2004, Stakeholder theory, corporate governance and public management, Journal of business ethics, vol. 53, pp. 247-265. Reynolds, S, Schultz, F & Hekman, D 2006, Stakeholder theory and managerial decision making: constraints and implications of balancing stakeholder interests, Journal of business ethics, vol. 64, no. 3, pp. 285-301. Phillips, R, Freeman, R, & Wicks, A 2003, what stakeholder theory is not, Business ethics quarterly, vol. 13, no. 4, pp. 479-502.