Corporate stakeholders management in India: an empirical study of organisational decision-making criteria

Shashank Shah and A. Sudhir Bhaskar

International Journal of Indian Culture and Business Management, 2011, vol. 4, issue 2, 218-239

Abstract: Inspired by rich injunctions of the Indian culture that to ensure the welfare of all is the duty of every human being, and in the light of the current moral crisis across the globe, there is a need to identify a comprehensive and holistic approach to business management which ensures the welfare of all the business constituents. The desire for such an approach to corporate management has led to the emergence of the concept of Stakeholders Management. A detailed analysis regarding the priority organisations give to stakeholders management and parameters used by managers while making decisions with respect to stakeholders is presented here. The analysis is based on primary data collected by the authors from 700 managers of 344 companies across 18 industries from 18 metropolitan cities of India. Based on the above analysis, this paper provides appropriate observations and conclusions regarding organisational decision-making criteria relating to various stakeholders.

Keywords: Dharmic management; corporate stakeholders; stakeholder management; decision making; stakeholder welfare; universal welfare; moral crises; holistic approaches; corporate management; managers; Dharma; business ethics; ethical standards; India; Indian culture; business management. (search for similar items in EconPapers)
Date: 2011
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