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Theories of management require normative justification; that is, they rely on some conception of what is morally good, right, and just. This chapter examines some of the normative reasons for adopting a stakeholder theory of management and for rejecting the once, and perhaps still, “dominant” shareholder-centric approach. This chapter then surveys some of the prominent “normative cores” that are used to ground stakeholder theory, that is, Kantian, contractarian, feminist ethics, and ethical pragmatism, and the moral obligations that each normative approach generates. Some pressing questions are raised with respect to each normative approach. To what extent ought we to recognize imperfect obligations to shareholders? Are contractarian hypernorms morally substantive? How exactly should we care about stakeholders, and is care even an appropriate attitudinal response? Without some commitment to objective ethical standards, how can pragmatists resolve stakeholder conflict?

The purpose of this conceptual paper is to introduce a new governance model based on collaborative co-creation of value that leads to the strategic integration of football clubs and their community trusts. This paper also introduces a new process framework that can be instrumental to practitioners and can be operationalised by researchers.

The paper is underpinned by social strategy literature, the service-dominant (S-D) logic framework of value co-creation, stakeholder thinking and the creating shared value (CSV) framework. The process framework is based on the P.A.S.C.A.L. (perception, analysis, synthesis, choice, action and learning) decision-making process introduced by Goodpaster (1991).

Although the evidence that we have presented shows that some clubs are already applying some of the strategies that are part of our process framework, the paper highlights further opportunities particularly for clubs with less-developed social schemes.

This paper is a conceptual paper based on an ongoing multi-case study of four English Premier League clubs. The evidence we introduce is to bring our proposed process framework to life. As implications for future research, the process framework can be tested empirically. Future studies might also focus on how the international footprint of the community trusts influences their strategic integration with the rest of the club. Lastly, the leader plus team might be used as a new unit of analysis in future research.

This conceptual paper can mitigate the separation fallacy that decouples social schemes from football and commercial objectives. Our process framework illustrates how stakeholder relationships are governed and lead to value creation. The strategies within the CSV framework are a roadmap for expanding social and economic value co-creation.

Our process framework for collaborative value co-creation can guide practitioners on how to develop and implement their social strategies.

The originality of this paper is in the application of the S-D logic and the CSV framework to social strategies in football clubs and the introduction of a process framework that may be operationalised by researchers and applied by practitioners as they develop and implement their social strategies.

This chapter suggests that there are at least five main challenges to the development of stakeholder theory as it currently stands. We need more research on understanding what counts as the total performance of a business; accounting for stakeholders rather than accounting only for investors; explaining real stakeholder behavior; formulating smart public policy given stakeholder theory; and rethinking the basics of ethical theory. The chapter explains the issues involved in each challenge and suggests ways to meet the challenge. It is a preliminary report of research in progress as well as a blueprint for how others may join the conversation to develop a more useful stakeholder theory.

Stakeholder theory (ST) argues that providing value to external stakeholders is the best way to ensure long-term business health. However, when the theory was formed, information technology (IT) played a small role in organizational operations and strategy. Although IT research recognizes stakeholders, the theoretical underpinnings of ST are rarely recognized within this context. The purpose of this paper is to remedy this issue by reviewing ST through the lens of technology adoption and training and presenting propositions for business alignment and organizational success.

This paper conducted a comprehensive literature review to examine all extant research at the intersection of ST, IT and information systems (IS). A total of 25 papers were retained, published between 1993 and 2016, using multiple sources for search.

Too little IT research has recognized the theoretical foundations of ST. These theoretical foundations have the potential to expand the focus of research and practice to recognize the wider impacts of technological developments. A total of six propositions are presented to highlight the need for a greater focus on external stakeholders throughout all stages of IS design, development and implementation to improve the performance of IT-related projects and IT-business units.

The paper addresses the research gap by integrating ST with IT and IS, providing theory-based recommendations to improve their functions within organizations. A review of all extant research at the intersection of these topics is provided.

Stakeholder theory research identifies changes in language as one possible mechanism to overcome the deficiencies of current accounting practices with regard to social aspects. This study aims to examine the effects of the terms used for specific accounts on company internal decision-making, drawing on the example of “value creation accounting”.

The study uses a survey based-experiment to analyze the effects of terms used for specific accounts on decision-making, with a focus on social aspects (in particular expenditures for staff) in cost reduction and expenditure decisions.

The findings indicate that wordings, which more closely relate to value creation than to costs, decrease cost reductions and increase the priority ascribed to the social aspect of reducing staff costs in times of financial shortage. The effects of terms used on cost reductions are stronger among female decision makers.

The analysis suggests that conventional accounting language best suits organizations that aim at incentivizing decision makers to primarily cut costs. By contrast, if an organization follows an approach that puts importance on social aspects in times of financial shortage and on not doing too sharp cost reductions, value creation-oriented language is the more effective approach.

The study suggests that the specific terminology used for accounts should be chosen more carefully and with awareness for the possible effects on cost reduction decisions as well as on social consequences.

This study contributes to a better understanding of the relevance of language in accounting. It suggests that the terms used for accounts should be chosen purposefully because of their far-reaching potential consequences for stakeholders as well as for the organization.

Grey target decision-making serves as a pivotal analytical tool for addressing dynamic multi-attribute group decision-making amidst uncertain information. However, the setting of bull's eye is frequently subjective, and each stage is considered independent of the others. Interference effects between each stage can easily influence one another. To address these challenges effectively, this paper employs quantum probability theory to construct quantum-like Bayesian networks, addressing interference effects in dynamic multi-attribute group decision-making.

Firstly, the bull's eye matrix of the scheme stage is derived based on the principle of group negotiation and maximum satisfaction deviation. Secondly, a nonlinear programming model for stage weight is constructed by using an improved Orness measure constraint to determine the stage weight. Finally, the quantum-like Bayesian network is constructed to explore the interference effect between stages. In this process, the decision of each stage is regarded as a wave function which occurs synchronously, with mutual interference impacting the aggregate result. Finally, the effectiveness and rationality of the model are verified through a public health emergency.

The research shows that there are interference effects between each stage. Both the dynamic grey target group decision model and the dynamic multi-attribute group decision model based on quantum-like Bayesian network proposed in this paper are scientific and effective. They enhance the flexibility and stability of actual decision-making and provide significant practical value.

To address issues like stage interference effects, subjective bull's eye settings and the absence of participative behavior in decision-making groups, this paper develops a grey target decision model grounded in group negotiation and maximum satisfaction deviation. Furthermore, by integrating the quantum-like Bayesian network model, this paper offers a novel perspective for addressing information fusion and subjective cognitive biases during decision-making.

This chapter highlights some of the tensions and most promising points of convergence between the strategic management and stakeholder theory literatures. We briefly examine the early development of both areas, identifying some of the background assumptions and choices that informed how the fields evolved, and how these factors led the two fields to engage in scholarly pursuits that seldom intersected for a period of years, followed by a renewal of interest among strategists in themes that are central to stakeholder theory. From this discussion, we develop a larger agenda with specific topics as examples of areas that offer promise for integrative research that can advance knowledge in both fields. Our vision of the future is one in which the larger aspirations of scholars in strategy and stakeholder theory are more fully realized with human purposes, broadly defined, as the focal point.