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Integration of stakeholder interests in housing companies’ strategic management: A process model for more sustainable value creation

Stephanie Heitel (Department of Real Estate and Construction Management, Technische Universität Darmstadt, Darmstadt, Germany)
Annette Kämpf-Dern (Department of Real Estate and Construction Management, Technische Universität Darmstadt, Darmstadt, Germany)
Andreas Pfnür (Department of Real Estate and Construction Management, Technische Universität Darmstadt, Darmstadt, Germany)

Property Management

ISSN: 0263-7472

Article publication date: 15 June 2015

Abstract

Purpose

In addition to financial returns, German housing companies are expected to achieve social and ecological outcomes. This achievement is challenging for management, as expectations from different stakeholders are only partly apparent and often conflicting. The paper aims to discuss these issues.

Design/methodology/approach

This paper presents a process model that supports the management of housing companies to systematically explore, evaluate, and integrate stakeholders’ interests into the company’s strategic targets.

Findings

The integrated process model improves sustainable value creation, as stakeholders’ interests are transparent and can thus be better satisfied.

Research limitations/implications

Due to the action research design, further research cycles and empirical testing with other companies are needed before findings can be generalised.

Practical implications

The process enables housing companies to focus on value-generating activities, to react timely to changing needs, and to improve their relationships with stakeholders. Management benefits from increased clarity and legitimacy for strategic decisions as stakeholder demands are made transparent and integrated into the strategic targets.

Originality/value

Compared to common participation approaches, all stakeholder groups are consulted, and their expectations are documented transparently within the suggested process model. This results in a better foundation for sustainable management planning and decisions.

Keywords

Acknowledgements

The authors thank the case company Bauverein AG for the valuable cooperation and for financing the scientific support during the implementation of the developed process.

Citation

Heitel, S., Kämpf-Dern, A. and Pfnür, A. (2015), "Integration of stakeholder interests in housing companies’ strategic management: A process model for more sustainable value creation ", Property Management, Vol. 33 No. 3, pp. 224-244. https://doi.org/10.1108/PM-05-2014-0026

Publisher

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Emerald Group Publishing Limited

Copyright © 2015, Emerald Group Publishing Limited