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Values-Based Stakeholder Management: Concepts and Methods

In: Rethinking Strategic Management

Author

Listed:
  • Henning Breuer

    (UXBerlin – Innovation Consulting & University of Applied Sciences for Media, Communication and Management)

  • Florian Lüdeke-Freund

    (ESCP Europe Business School, Chair for Corporate Sustainability)

Abstract

Stakeholders have acquired an active and even pivotal role in strategic management decisions and collaboration formats due to ongoing substantial changes in the corporate world, impacting established management frameworks, concepts and methods. This chapter discusses some of these fundamental changes and demonstrates the impact of (missing) stakeholder engagement for the success of a strategy process. Based on the difference between interests and values a values-based reframing of the stakeholder concept and corresponding management methods is suggested and illustrated with exemplary cases. To support a values-based approach to stakeholder management, new conceptual distinctions and methodical implications are presented. Three forms of stakeholder management are proposed (defensive, integrative, overarching). Furthermore, this chapter shows how to clarify and develop stakeholder values (e.g. by means of ongoing values conversations) and exemplifies how to reframe and adapt methods of stakeholder analysis and management (e.g. as an element of values-based business modelling). A values-based approach to strategic stakeholder management ensures that the course of strategic decisions is not only determined by short-lived attitudes, interests and the best deal negotiators may get, but that it is driven by long-term objectives of diverse participants.

Suggested Citation

  • Henning Breuer & Florian Lüdeke-Freund, 2019. "Values-Based Stakeholder Management: Concepts and Methods," CSR, Sustainability, Ethics & Governance, in: Thomas Wunder (ed.), Rethinking Strategic Management, chapter 0, pages 217-239, Springer.
    • Handle: RePEc:spr:csrchp:978-3-030-06014-5_11
    DOI: 10.1007/978-3-030-06014-5_11
    as

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