To read the full version of this content please select one of the options below:

Stakeholder Management

Quality Management: Tools, Methods, and Standards

ISBN: 978-1-78769-804-8, eISBN: 978-1-78769-801-7

Publication date: 9 May 2019

Abstract

In this chapter, the evolution of the concept of stakeholder and how crucial is the company’s interaction and cooperation with them to achieve common goals has been studied. Initially stakeholder was considered a synonym of shareholder but throughout the years the category has expanded including managers, employees, suppliers, and other key actors, until the current meaning: stakeholder is “any group or individuals who can affect or is affected by the achievement of the organization’s objectives” (Freeman, 1994). Hence for running successful businesses, the companies need to acknowledge the existing stakeholders and provide them expected benefits, proportionally to their relevance, which is based on their power, legitimacy, and urgency. The chapter concludes by showing us the main principles that identify the management duties to all stakeholders and the necessity of increasing their involvement in decision-making processes.

Keywords

Citation

Atti, G., Galantini, V. and Sartor, M. (2019), "Stakeholder Management", Sartor, M. and Orzes, G. (Ed.) Quality Management: Tools, Methods, and Standards, Emerald Publishing Limited, Bingley, pp. 23-34. https://doi.org/10.1108/978-1-78769-801-720191002

Publisher

:

Emerald Publishing Limited

Copyright © 2019 Emerald Publishing Limited