CONCEPTUAL STAKEHOLDER THEORY IN PROJECT MANAGEMENT

2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Paulin Tchumtcha Wembe
Keyword(s):  
Project Management ◽  
Stakeholder Management ◽  
Management Theory ◽  
Western Model ◽  
Hard Skills ◽  
Chinese Model ◽  
Literature Reviews ◽  
Management Approaches ◽  
New Perspective ◽  
Stakeholder Management Theory

Stakeholder management is an important part of management notion particularly in project management today. In recent years, the concept of stakeholder grows comprehensively among academics and professionals. Despite the widespread stakeholder management, the theory is not straightforward to understand and apply. One of the reasons is the number of theories in literature. Literature reviews reveal the following as stakeholder management theories: normative, instrumental, descriptive, convergent stakeholder and social science stakeholder theories. The research employs existing literature to develop a contemporary understanding of stakeholder management theory of stakeholder management. This paper contributes to the stakeholder management theory by presenting the new concept of stakeholder management theory using two cultures (Western and Chinese cultures in Africa). These management approaches can be classified as Western and Chinese models. The Western model is contractual by nature, while the Chinese model is characterized by informality (guanxi). The new stakeholder management theory called "Accustom theory". The new stakeholder management theory developed-"Accustom theory"-had a lot to do with the stakeholder management in project management. It deals with hard skills, soft skills, and the power structure skills. This paper contributes to stakeholder management theory by presenting accustom theory as a new perspective of stakeholder management theory. The new theory aims to improve the practice of project management by presenting how formality, participation and communication levels in projects improve stakeholders' satisfaction.

scholarly journals The stakeholder management theory of CSR

2016 ◽  
Vol 34 (5) ◽  
pp. 731-751 ◽  
Author(s):  
Andrea Pérez ◽  
Ignacio Rodríguez del Bosque
Keyword(s):  
Structural Equation ◽  
Ethical Issues ◽  
Positive Impact ◽  
Stakeholder Management ◽  
Equation Model ◽  
Management Theory ◽  
Content Type ◽  
Order Construct ◽  
Customer Identification ◽  
Stakeholder Management Theory

Purpose – Based on the principles of the stakeholder management theory, the purpose of this paper is to explore customers’ multidimensional perceptions of both banking companies and the corporate social responsibility (CSR) orientations of these companies. The paper also explores how these multidimensional perceptions affect customer identification and satisfaction towards banking companies. Design/methodology/approach – A structural equation model is tested using information collected from 1,124 banking service customers. Findings – The findings demonstrate that customers’ perceptions of customer-related CSR and broad legal and ethical issues have significant positive impact on both customer identification and satisfaction with banking companies. Perceptions of shareholder-related CSR also significantly boost customer satisfaction. In contrast, perceptions of employee- and community-related CSR do not have a profound effect on customer identification or satisfaction. These findings also confirm the importance of customer identification with the company as a key mediator in their satisfaction responses to the multidimensional perceptions of the companies’ CSR orientations. Originality/value – The contribution of the paper is based on the exploration of a multidimensional approach, relying on the principles of the stakeholder management theory to study customer responses and perceptions of the CSR orientations of banking companies. Previous scholars have reported mixed findings while exploring customer responses to their perceptions of companies’ CSR orientations. However, they frequently considered customer CSR perceptions either as one-dimensional or a reflective second-order construct, thus ignoring the possibility of multidimensional CSR perceptions having multiple effects on customer responses such as identification and satisfaction.

Stakeholder Management Theory: A Critical Theory Perspective

1999 ◽  
Vol 9 (3) ◽  
pp. 453-483 ◽  
Author(s):  
Darryl Reed
Keyword(s):  
Critical Theory ◽  
Stakeholder Management ◽  
Normative Theory ◽  
Management Theory ◽  
Theory Approach ◽  
Adequate Treatment ◽  
Normative Analysis ◽  
Stakeholder Management Theory

Abstract:This article elaborates a normative Stakeholder Management Theory (SHMT) from a critical theory perspective. The paper argues that the normative theory elaborated by critical theorists such as Habermas exhibits important advantages over its rivals and that these advantages provide the basis for a theoretically more adequate version of SHMT. In the first section of the paper an account is given of normative theory from a critical theory perspective and its advantages over rival traditions. A key characteristic of the critical theory approach is expressed as a distinction between three different normative realms, viz., legitimacy, morality, and ethics. In the second section, the outlines of a theory of stakeholder management are provided. First, three basic tasks of a theoretically adequate treatment of the normative analysis of stakeholder management are identified. This is followed by a discussion of how a critical theory approach to SHMT is able to fulfill these three tasks.

The Evolution of Shell’s Stakeholder Approach: A Case Study

2004 ◽  
Vol 14 (4) ◽  
pp. 713-728 ◽  
Author(s):  
Jane Wei-Skillern
Keyword(s):  
Stakeholder Management ◽  
Management Theory ◽  
Management Approach ◽  
Critical Factors ◽  
Comprehensive Strategy ◽  
Gradual Development ◽  
Stakeholder Management Theory ◽  
Global Company

Shell’s efforts to integrate the stakeholder management approach into its business practice worldwide involved the gradual development of a long-term, comprehensive strategy. This paper draws on stakeholder management theory and Shell’s experience to identify critical factors that contribute to the process of institutionalizing the principle of stakeholder management in a global company. A key lesson to be drawn from the case is the necessity of ensuring that the process allows for continuous learning, adaptation, and refinement.

Stakeholder evolution: a study of stakeholder dynamics in 12 Norwegian projects

2019 ◽  
Vol 13 (1) ◽  
pp. 172-196
Author(s):  
Omar ElWakeel ◽  
Bjorn Andersen
Keyword(s):  
Project Management ◽  
Stakeholder Management ◽  
The Other ◽  
Stakeholder Group ◽  
Business Sector ◽  
Content Type ◽  
Strongly Connected ◽  
Change Position ◽  
Management Approaches ◽  
Business Sectors

Purpose The purpose of this paper is to explore the concept of stakeholder dynamics and to show how stakeholders demonstrate their dynamic nature in the power/interest matrix. This, in turn, should assist project management and stakeholder management practitioners predict the behavior of different stakeholder groups in their projects, and strategize their stakeholder management approaches accordingly. Design/methodology/approach The findings in this paper are based on data collected from 12 diverse projects from five different business sectors executed in Norway by means of an online, closed-question questionnaire, which was analyzed using various statistical approaches. Findings Stakeholder dynamics is a contextual phenomenon, which takes different forms and shapes from one stakeholder group to the other, from one industry or business sector to the other, and even from one project to the other within the same industry or business sector. The stakeholder group of user(s) was the most dynamic in Norwegian projects based on their continuous repositioning on the power/interest matrix from one project phase to the other. Environmental activists/organizations were the least dynamic stakeholder group in the full sample of projects. Originality/value This paper presents the first more comprehensive empirically based findings about stakeholder dynamics in projects the authors have been able to find. The study gives project management practitioners insights from various industries and business sectors into how stakeholders change position over time. It also shows that the two attributes of power and interest are strongly connected and affect one another, which might make it possible to control and design a safer and less complex stakeholder environment for future projects.

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