Towards strategic stakeholder management? Integrating perspectives on sustainability challenges such as corporate responses to climate change (original) (raw)
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Climate change mitigation and its related reduction of greenhouse gas (GHG) emissions is one of the most important challenges facing society. The major cause of the problem and the key to its solution are GHG-intensive firms that emit vast amounts of anthropogenic GHG emissions. The study reported herein aims to increase our understanding of the climate change mitigation strategies of these firms, in particular their antecedents and effects. A comprehensive conceptual model is proposed and tested empirically based on a survey of 247 firms that participated in the European Union's Emissions Trading Scheme in the first two trading periods. We find that market pressures for reducing GHG emissions, perceived GHG-related regulatory uncertainty and environmental strategy focus are important determinants of corporate GHG reduction strategies which, in turn, enhance GHG-related performance. We also show that the results vary depending on the type of emissions.
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Developing corporate strategies dealing with the natural environment requires that the organization take into consideration a number of internal and external stakeholders. Whilst most firms understand this need, most do not have a process for examining the relevant stakeholders and including them in the environmental strategy development process. This paper discusses how firms can use the stakeholder management process to identify important environmental stakeholders. It also discusses how firms can use an expanded version of the stakeholder strategy matrix to incorporate stakeholders into the environmental strategy development process. Utilizing these tools would allow firms to develop more effective strategies to deal with the natural environment, thus reducing their vulnerability to external shocks caused by "unsatisfied" stakeholders.
2011
Purpose This paper is a critique of stakeholder theory, a critique that builds towards outlining how if sustainable development is a desired aim then stakeholder theory is a tool that may not be adequate and may require consignment to the archives. Consigning something to the archives is a similar argument to that which Freeman (1984) used to introduce stakeholder theory 27 years ago in 1984. At that time he outlined how ‘we manage based on our understandings of the past, rather than the future’ (Freeman 1984, p. 1) and as such a new tool (the stakeholder concept) is required to help managers engage in ‘a new way of thinking about strategic management – that is, how a corporation can and should set and implement strategic direction’ (ibid., p. vi). To make the case that there is a requirement to move past the stakeholder concept the paper proceeds through four parts before summarising and briefly discussing possible alternatives. The first part is a review of stakeholder theory to h...
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. This content downloaded from 144.32.240.48 on MonABSTRACT. Sustainable development (SD) -that is, "Development that meets the needs of current genera tions without compromising the ability of future gener ations to meet their needs and aspirations" -can be pursued in many dierent ways. Stakeholder relations management (SRM) is one such way, through which corporations are confronted with economic, social, and environmental stakeholder claims. This paper lays the groundwork for an empirical analysis of the question of how far SD can be achieved through SI^M. It describes the so-called SD-SRM perspective as a distinctive research approach and shows how it relates to the wider body of stakeholder theory. Next, the concept of SD is operationalized for the microeconomic level with refer ence to important documents. Based on the ensuing SD framework, it is shown how SD and SRM relate to each other, and how the two concepts relate to other popular concepts such as Corporate Sustainability and Corporate Social Responsibility. The paper concludes that the significance of societal guiding models such as SD and of management approaches like CSR is strongly dependent on their footing in society.
FIRM STRATEGY FOR SUSTAINABILITY
Compliance Engineering Journal, 2022
Sustainability has been the key word for firms who try to get bigger market share through projecting their action for sustainability. The literature of strategy has come a long way from early 60s where different typologies were developed for firms to follow to gain competitive advantage. The same interpretation of strategy typology in the current context of sustainability would be inappropriate as what we look at is cooperation and collaboration for collective wellbeing and not competition. In previous seminars the focus was on firm size and measurement metrics for sustainability performance of firms. In this context we understand that firm strategy has relationship with firm size and sustainability performance. This paper looks at various strategy typologies and makes an attempt to rethink strategy for sustainability which would be implementable and inevitable for firms to achieve this goal.