By Ezekiel Chinyio, Paul Olomolaiye

"This e-book captures most sensible perform in development stakeholder administration utilizing more than a few overseas case stories. It demonstrates stakeholder mapping, offers the power/interest matrix and analyses a version for the well timed engagement of stakeholders." "The elevated use of partnering and different relational sorts of contracting have underlined the necessity for venture contributors to interact and in addition to be aware Read more...

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Wheeler, D. and Sillanpää, M. (1997) The Stakeholder Corporation: A Blueprint for Maximizing Stakeholder Value. London: Pitman Publishing. Winch, G. and Bonke, S. (2002) Project stakeholder mapping: Analysing the interests of project stakeholders. In: Project Management Institute (PMI) The Frontiers of Project Management Research. Pennsylvania: PMI (Chapter 23), pp. 385–403. , 2006) practices. This interest is mainly driven by the understanding that organisational practices are not only determined by managerial rationality, but are also constrained and enabled by their institutional configurations and social conditions (DiMaggio and Powell, 1983; Granovetter, 1985; Hollingsworth and Boyer, 1997; Whitley, 1998; Hall and Soskice, 2001; Amable, 2003; Crouch, 2005).

Stakeholder Management: Theoretical Perspectives and Implications 17 b. The interests of all stakeholders are of intrinsic value. That is, each group of stakeholders merits consideration for its own sake and not merely because of its ability to further the interests of some other group, such as the shareowners (emphasis in original). Leveraging these ideas, Phillips (2003) makes a distinction between normative and derivative stakeholder legitimacy arguing that normative stakeholders are those stakeholders to whom the organisation has a moral obligation, and the answer to the seminal stakeholder question ‘for whose benefit .

Many scholars identify the book by Freeman (1984) as a pacesetter; thus some scholars attribute the introduction of modern stakeholder theory to Freeman. Stakeholder management evolved as a tenet of ‘corporate social responsibility’ and is underpinned on ethical, social and economic considerations. Socially responsible organisations endeavour to employ ethical behaviour in their conduct (Moloney, 2006) and this informs their management of diverse stakes. Stakeholder management involves managing relationships in order to motivate stakeholders to behave in ways that support the objectives of a firm.

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