The Role of Organisational Stakeholders in the Formulation of Values Statements

Krista Jaakson ()
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Krista Jaakson: Institute of Business Administration, University of Tartu

No 171, Working Papers from School of Economics and Business Administration, Tallinn University of Technology

Abstract: Although the literature on organisational values is plentiful, little is known about the process of formulating the statements that reflect those values in an organisation. Furthermore, the way that stakeholder groups are treated in the existing literature is dramatically different when it comes to their involvement in the values formulation process. There is no consensus on whether and who to consult when adopting values statements. The aim of the current paper is to offer a model for stakeholder involvement in the process of formulating organisational values statements. First, the categories of values are discussed in order to understand the subject matter. Next, the potential impact of values statements on different stakeholders is mapped and a basis for distinct levels of stakeholder involvement is formed. The model for stakeholder involvement presented in the final chapter rests on the idea that the higher the impact of the values statement on stakeholders the more they deserve to be involved in the process of formulating these values.

Keywords: organisational values; value statements; stakeholder involvement (search for similar items in EconPapers)
JEL-codes: J53 M14 L14 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse and nep-soc
Date: 2008
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Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 41-53

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