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The Stakeholder Model Refined

Yves Fassin UGent (2009) JOURNAL OF BUSINESS ETHICS. 84(1). p.113-135
abstract
The popularity of the stakeholder model has been achieved thanks to its powerful visual scheme and its very simplicity. Stakeholder management has become an important tool to transfer ethics to management practice and strategy. Nevertheless, legitimate criticism continues to insist on clarification and emphasises on the perfectible nature of the model. Here, rather than building on the discussion from a philosophical or theoretical point of view, a different and innovative approach has been chosen: the analysis will return to the origin of stakeholder theory and will keep the graphical framework firmly in perspective. It will confront the stakeholder model's graphical representation to the discussion on stakeholder definition, stakeholder identification and categorisation, to re-centre the debate to the strategic origin of the stakeholder model. The ambiguity and the vagueness of the stakeholder concept are discussed from managerial and legal approaches. The impacts of two major shortcomings of the popular stakeholder framework are examined: the boundaries and the level of the firm's environment, and the ambivalent position of pressure groups and regulators. Working pragmatically, with a focus on the managerial and organisational perspective, an attempt is made to clarify the categorisations and classifications by introducing new terminology with a distinction between stakeholders, stakewatchers and stakekeepers. The analysis will finally lead to a proposed upgraded and refined version of the stakeholder model, with incremental ameliorations close to Freeman's original model and a return of focus to its essence, the managerial implications in a strategic approach.
Please use this url to cite or link to this publication:
author
organization
year
type
journalArticle (review)
publication status
published
subject
keyword
stakeholder, stakewatcher, stakekeeper, stakeholder model, stakeholder theory, strategy, graphical framework, business ethics, Freeman's model, pressure groups
journal title
JOURNAL OF BUSINESS ETHICS
J. Bus. Ethics
volume
84
issue
1
pages
113 - 135
publisher
Springer
place of publication
Dordrecht
Web of Science type
Review
Web of Science id
000261186900009
JCR category
ETHICS
JCR impact factor
1.088 (2009)
JCR rank
10/34 (2009)
JCR quartile
2 (2009)
ISSN
0167-4544
DOI
10.1007/s10551-008-9677-4
language
English
UGent publication?
yes
classification
A1
id
666658
handle
http://hdl.handle.net/1854/LU-666658
date created
2009-05-26 14:07:43
date last changed
2009-05-28 10:16:39
@article{666658,
  abstract     = {The popularity of the stakeholder model has been achieved thanks to its powerful visual scheme and its very simplicity. Stakeholder management has become an important tool to transfer ethics to management practice and strategy. Nevertheless, legitimate criticism continues to insist on clarification and emphasises on the perfectible nature of the model. Here, rather than building on the discussion from a philosophical or theoretical point of view, a different and innovative approach has been chosen: the analysis will return to the origin of stakeholder theory and will keep the graphical framework firmly in perspective. It will confront the stakeholder model's graphical representation to the discussion on stakeholder definition, stakeholder identification and categorisation, to re-centre the debate to the strategic origin of the stakeholder model. The ambiguity and the vagueness of the stakeholder concept are discussed from managerial and legal approaches. The impacts of two major shortcomings of the popular stakeholder framework are examined: the boundaries and the level of the firm's environment, and the ambivalent position of pressure groups and regulators. Working pragmatically, with a focus on the managerial and organisational perspective, an attempt is made to clarify the categorisations and classifications by introducing new terminology with a distinction between stakeholders, stakewatchers and stakekeepers. The analysis will finally lead to a proposed upgraded and refined version of the stakeholder model, with incremental ameliorations close to Freeman's original model and a return of focus to its essence, the managerial implications in a strategic approach.},
  author       = {Fassin, Yves},
  issn         = {0167-4544},
  journal      = {JOURNAL OF BUSINESS ETHICS},
  keyword      = {stakeholder,stakewatcher,stakekeeper,stakeholder model,stakeholder theory,strategy,graphical framework,business ethics,Freeman's model,pressure groups},
  language     = {eng},
  number       = {1},
  pages        = {113--135},
  publisher    = {Springer},
  title        = {The Stakeholder Model Refined},
  url          = {http://dx.doi.org/10.1007/s10551-008-9677-4},
  volume       = {84},
  year         = {2009},
}

Chicago
Fassin, Yves. 2009. “The Stakeholder Model Refined.” Journal of Business Ethics 84 (1): 113–135.
APA
Fassin, Y. (2009). The Stakeholder Model Refined. JOURNAL OF BUSINESS ETHICS, 84(1), 113–135.
Vancouver
1.
Fassin Y. The Stakeholder Model Refined. JOURNAL OF BUSINESS ETHICS. Dordrecht: Springer; 2009;84(1):113–35.
MLA
Fassin, Yves. “The Stakeholder Model Refined.” JOURNAL OF BUSINESS ETHICS 84.1 (2009): 113–135. Print.