Journal ArticleDOI
The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications
Thomas Donaldson,Lee E. Preston +1 more
TLDR
In this article, the authors examine three aspects of the stakeholder theory and critique and integrate important contributions to the literature related to each, concluding that the three aspects are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental.Abstract:
?The stakeholder theory has been advanced and justified in the management literature on the basis of its descriptive accuracy, instrumental power, and normative validity. These three aspects of the theory, although interrelated, are quite distinct; they involve different types of evidence and argument and have different implications. In this article, we examine these three aspects of the theory and critique and integrate important contributions to the literature related to each. We conclude that the three aspects of stakeholder theory are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental. If the unity of the corporate body is real, then there is reality and not simply legal fiction in the proposition that the managers of the unit are fiduciaries for it and not merely for its individual members, that they are . . . trustees for an institution [with multiple constituents] rather than attorneys for the stockholders.read more
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Sustainable development and sustainability of competitive advantage: A dynamic and sustainable view of the firm
TL;DR: In this article, the authors present a proposal for a dynamic and sustainable view of the firm, explaining the normative and instrumental character of its foundations, and highlight the changes in corporate governance which inherently come with this new view.
Journal ArticleDOI
Does Action Learning Promote Collaborative Leadership
TL;DR: Action learning is portrayed as growing acceptance as a management education and learning approach that distills knowledge from a context to be used to provide learning to the practice as well as to the practitioner as discussed by the authors.
Journal ArticleDOI
Evaluation of the external forces affecting the sustainability of oil and gas supply chain using Best Worst Method
Wan Nurul Karimah Wan Ahmad,Wan Nurul Karimah Wan Ahmad,Jafar Rezaei,Saman Sadaghiani,Lóránt Tavasszy +4 more
TL;DR: In this article, the authors demonstrate the importance of identifying the context of SSCM practices in order to understand how sustainable supply chain strategies can be designed and implemented more effectively, while academic experts think that regulatory factor is the second least important external force, it is the third most important factor according to practitioners.
Journal ArticleDOI
Supply chain social sustainability for developing nations: Evidence from India
TL;DR: In this article, the authors used semi-structured interview data collected from supply chain executives in Indian manufacturing companies to uncover dimensions of social sustainability in terms of not only the focal firm, but also first-tier suppliers and customers.
Journal ArticleDOI
What is project governance and what are its origins
TL;DR: In this paper, the authors examine project governance literature and contrast it to general governance literature published outside the domain of project research, and argue that there exists considerable potential for bridging project governance and general governance further.
References
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Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
The Nature of the Firm
TL;DR: In this paper, it is shown that a definition of a firm may be obtained which is not only realistic in that it corresponds to what is meant by a firm in the real world, but is tractable by two of the most powerful instruments of economic analysis developed by Marshall, the idea of the margin and that of substitution.
Book
Strategic Management: A Stakeholder Approach
TL;DR: The Stakeholder Approach: 1. Managing in turbulent times 2. The stakeholder concept and strategic management 3. Strategic Management Processes: 4. Setting strategic direction 5. Formulating strategies for stakeholders 6. Implementing and monitoring stakeholder strategies 7. Conflict at the board level 8. The functional disciplines of management 9. The role of the executive as mentioned in this paper.
Journal ArticleDOI
The Economic Institutions of Capitalism
TL;DR: The Economic Institutions of Capitalism as mentioned in this paper is a seminal work in the field of economic institutions of capitalism. Journal of Economic Issues: Vol. 21, No. 1, pp. 528-530.