STAKEHOLDER APPROACH TO CORPORATE SUSTAINABILITY: A REVIEW

Venkataraman S (venkat@iimk.ac.in)
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Venkataraman S: Indian Institute of Management, Kozhikode

No 319, Working papers from Indian Institute of Management Kozhikode

Abstract: Stakeholder approach to management offers a distinctly different approach to managing corporations from the dominant “shareholder approach”, emphasizing the firm as balancing a confluence of co-operative and competitive interests representing an extended stakeholder base. This review examines the various dimensions that emerge in scholarly research associating stakeholder approaches to the theme of sustainable business. Stakeholder theory, particularly in its normative and instrumentalist approaches, is presented as a very naturally aligned theoretical framework for advancing the science and practice of sustainability. Nevertheless, risks also emerge in relying solely on a stakeholder approach to achieve sustainability. Gaps in research are identified.

Keywords: Stakeholder; Corporate Sustainability (search for similar items in EconPapers)
Pages: 17 pages
Date: 2019-03
New Economics Papers: this item is included in nep-cse
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