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Strategicstakeholdertheory3

Identificationofstakeholders4

Differentmethodsofclassifyingshareholders5

Multidimensionaltaxonomy6

Mitchelltaxonomy6

Normativestakeholdertheory7

Theproposalofenterprises’socialresponsibility8

Conclusion9

Reference9

Enterprises’stakeholdersandsocialresponsibility

Introduction

Stakeholdersinfluenceenterprisestogreatextentsinceenterprises’operationactivitieshavetobetestedbystakeholders.Therefore,itisverymeaningfulforenterprisestostudystakeholdersanditsmanagementissues.Incomplexcommercialcontext,thesurvivalanddevelopmentofenterprisesmustdependontheactiveinvolvementofstakeholders.Speakingofstakeholders,stockholdersareonlyoneofitsmembers.Stakeholderscouldbedividedindetail,anddifferenttypesofstakeholdershavedifferentlevelsofinfluencesonenterprises;

similarly,stakeholdersareinfluencedbyenterprisesatdifferentlevels.Atthesametime,enterprisescannotsatisfytherequirementsofallstakeholderssincetheresourcesofenterprisesarelimited.Moreover,theinterestsofstakeholdersmaybeconflicting,companiesthereforehavetoevaluateandweighinterestsofdifferentstakeholders.Tobalancetheinterestsofdifferentstakeholders,itisnecessarytoclassifystakeholdersbasedondifferentdimensions,thatis,tomanagestakeholders.

Inaddition,socialresponsibilityofenterprisesisalwaysahottopicfocusedbythetheoreticalworldandpracticalworld.Withtheglobalizationofeconomyandfirmmanagement,enterprisesperformtheirsocialresponsibilitynotonlybecausetheyhavetodoitbuttheytrytoseekforlong-termandsustainabledevelopment.Peoplewillnotarguethatwhetherenterprisesshouldimplementtheirsocialresponsibility,buttheydowonderhowenterprisesperformtheirsocialresponsibility.Formtheviewofstakeholdertheory,thispaperbelievesthatsocialresponsibilityofenterprisesistohandletherelationshipbetweenenterprisesthemselvesandstakeholderandtosatisfystakeholders’requirementsandexpectationssoastoobtaintheirsatisfaction,trustandloyalty.Fromthislevel,thispapertakesforthatthecoreofcorporatesocialresponsibilitymanagementisthemanagementofstakeholder.

Thisarticledemonstratedtherelationshipbetweenstakeholdersandenterprisesthroughstudyingandanalyzingstakeholdertheory,analyzingtheclassificationofstakeholdersandrecognitionsonsocialresponsibilityandanalyzingstrategicandnormativestakeholdertheory.Asaresult,thispapergetsaconclusionthatcompaniesandstakeholdersarecloselyrelated,andthemanagementofstakeholderscouldpromotethelongrunofcompanies.

Stakeholdertheory

Businessethicsandorganizationalmanagementarethethemesofstakeholdertheorywhichdealswithvaluesaswellasmoralsinthemanagementoforganizations.Inhisbook‘StrategicManagement:

AStakeholderApproach’,R.Edwardfirstlydetailedthistheory.Heidentified,modeledpeoplewhoarestakeholdersofcompanies,andhenotonlydescribedbutalsoproposedapproachesthroughwhichstakeholdermanagementisabletogiveconsiderationtothesegroups’interests.

Intraditionalmeaningandfromtheviewofshareholders,stockholdersorshareholdersaretheactualpossessorofafirm;

therefore,companieshavedutyofconsideringtheirinterestsfirstsoastocreatemorevalueforstakeholders.Nevertheless,sincestakeholdertheorycameintobeing,supportersofthistheoryarguedthatnotonlystakeholders,butalsosuppliers,customers,employees,governmentalbodies,communities,politicalgroups,tradeunionsandemployeesarestakeholdersofcompanies.What’s’more,somepeopleevenarguedthatcompetitorscouldbetakenasstakeholdersoffirms.Tillnow,thereareplentifuldefinitionsofstakeholdersinacademicworld（Miles,2011）.

Market-basedview,resource-basedviewandsocial-politicalviewcomposestrategicstakeholderview.Theviewofanenterpriseisutilizedtodefinespecificstakeholdersofthiscompanyandtestsituationsunderwhichthegroupshavetobetakenastheirshareholders.

Strategicstakeholdertheory

Strategicstakeholdermanagementputforwardthatmanagershastohighlighttherelationshipbetweenkeystakeholdersinordertoensurethemaximumofshareholders’interestsinlongterm.

Everyactionofacorporationhasdirectrelationswitheachstakeholder,therefore,itisnecessaryforcompaniestomanagetheiroperationenvironmentcarefully;

especially,itseemstobemeaningfulforexcellententerprisestohandletherelationshipbetweenthemselvesandstakeholders.Forcompanies,thevaluegeneratedfromaddressingrelationshipamongstakeholdersissignificant.

Itcouldbeseenthatthemanagementmodelisbasedonthehypothesisthattheultimategoalofcorporationdecisionsistoachievemarket.Companiesviewstakeholdersasapartofoutsidemarketenvironment,tocompanieshavetomanagestakeholdersinordertoensuretheirownreturnsandinterestsofstakeholders.Ifcompaniesfullyconsiderforstakeholders,itcouldbeavoidedthatcorporationdecisionsareobstructedbystakeholdersduetoweakconsideration.Sincestakeholderscontrolcertainresourceswhatareneededbycorporationdecision,companiesshouldnotmakedecisionsarbitrarilyregardlessthevoiceofstakeholders（Pfeifer&

Salancik，1978）.Allinall,stakeholdermanagementisanapproachtoachievecompanies’goalofoperation.

Stakeholdermanagementisonlyasmallsectionofcorporatestrategy,anditwillnotbecomethedrivingforceofcorporatestrategy.Strategicstakeholdermanagementindicatesthesameconception.Themanagementclaimsthatenterpriseswillabandonmanagingthegroupofstakeholderswhencertainresourcesofstakeholdersdonotmatteranymoreormanagementmodelsusedareprovedtobeuselessforthecompanies’interests.Onlywhenstakeholdersarevaluableforcompanieswillstakeholdermanagementbecontainedintheprocessofcorporatedecision.

Tobringstakeholdersintocorporategovernancesoastomakeenterprisesconcentrateonthelongtermdevelopment;

besides,opportunisticbehaviorscanbereducedsincestakeholderswillpaymoreattentiontothedevelopmentofenterprises.Therefore,companiescanformalong-termcollaborativerelationshipwithstakeholderbasedontrust,whichisabletoreducetransactioncostsandcostsbroughtbyinformationasymmetry.Meanwhile,cooperativerelationshipbuiltbetweenthemselvesandclients/suppliesshapescomposesthecorecompetivenessoffirms.

Howtodefinestakeholders?

Differentmethodsandtheoriesexistatthesametimeinacademicworld.ClassificationmethodsputforwardbyClarksonandMitchellwillbemainlyintroducedinthispaper.Thedefinitionofstakeholderwillbedemonstratedbyillustratingthesetwoacademics’theoriesandsomeothertheoreticalsupports.

Identificationofstakeholders

Theterm‘stakeholder’isactuallydefinedin1960s.inspiredbytheterm’shareholder’,academicsofStanfordUniversitymadeuseof‘stakeholder’todescribegroupsorindividualswhohavecloserelationswithenterprises.Accordingtothem,thereexistseveralinterestgroupswhichdeterminethesurvivalofenterprisessinceenterprisescouldnotsucceedwithoutthesegroups’support.Thedefinitionmadepeoplerealizethattheperformanceofenterprisesisnotonlymatterstoshareholdersbutmanyinterestsgroupsaroundthecompaniesthoughthisdefinitionisnarrow.

Since1970s,stakeholdertheoryhasbeenbroadlyacceptedanddeveloped.Ansoff,arepresentativeofsocialresponsibility,pointedoutthatconflictinginterestsofvariousstakeholdersmustbecomprehensivelyconsideredwhenmakingidealcorporategoalswhilestakeholdersmayincludeemployees,shareholders,managers,suppliersaswellasclients.

Theacademicworlddefinesstakeholderfrombroadandnarrowsense.Stakeholdersincludenon-socialindividualsandgroupsaccordingtothebroadmeaning.Forinstance,Wheeler,anAmericanmanagerialisttookforthatnon-socialgroupsandindividualssuchasdeteriorationofnaturalenvironment,descendantofhumansandinhumanbandarestakeholdersofenterprises.Itisbecausecorporateactivitiesinfluencetheseindividualsorgroupsthatthesenon-socialgroupsandindividualsandinhumanbandarelistedinstakeholders（Starik，1994;

GeorgeSteiner&

JohnSteiner,1997,2002）.Asfornarrowmeaningofstakeholder,itonlytakesthoseindividualsorgroupswhohavegreatinfluenceofthesurvivalofenterprisesintoaccount.

Manyindividualsandgroupsarestakeholdersofcompaniesundersuchacompetitiveandglobalizedenvironment.Fromtheviewofcorporatemanagement,thereindividualsandgroupshavetheirownlegitimaterights,andtheypossessreasonableandlegitimateinterestsandrequirementsintheoperationoffirms.

Differentmethodsofclassifyingshareholders

Regardingtoclassificationstudyonstakeholders,thereexistvariousresearchachievementinacademicworld.Everyclassificationofstakeholdersisstudiedfromdifferentangles,andeverystudyhastheoreticalandpracticalmeanings.Itistheseresearchesthatpromotethedevelopmentandinnovationofstakeholdertheory.Thereisstillnotaunifiedstandardfortheclassificationofstakeholdersduetothebroaddefinitionofstakeholders.Theresearchresultswillnotbeconvincibleifstakeholdersarestudiedasawholebasedonthedefinitionofstakeholders.Stakeholdersarenothomogenizedgroupbuttheunionofdifferentvarieties;

itneedstobefurtherclassifiedbasedoncertaincriteriaanddimensions.Survival,developmentoffirmscouldnotbeachievedwithoutthesupportofstake