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In Search of Relevant Management Frameworks and Tools

Identifying Instruments for Managing Sustainable Stakeholder Relationships

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Managing Sustainable Stakeholder Relationships

Part of the book series: CSR, Sustainability, Ethics & Governance ((CSEG))

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Abstract

Chapter 5 examines past scholarship in search of useful concepts, approaches, and tools to facilitate decision-makers to manage sustainable stakeholder relationships. It initiates a first step to address the gaps identified in the previous chapter by proposing a management framework based exclusively on desk research, which endeavours to capture the relevant elements in corporate approaches to responsible management. Because this framework is entirely theoretical, empirical research is required to examine its usefulness in a practical management operating context .

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Notes

  1. 1.

    From ‘Stillness Speaks’.

  2. 2.

    The word ‘responsible’ is employed in this book as an adjective in the sense of being accountable. It is assumed to mean to be responsible compared with the closely related noun ‘responsibility’, which is inferred to imply the obligation or duty to have a responsibility.

  3. 3.

    For clarification, the term ‘CR’ is employed here and throughout this chapter for brevity purposes. It is intended to signify the concept of responsible management (as defined in Chap. 2) within a corporate sustainable stakeholder relationship setting.

  4. 4.

    For clarification, when applying the PEST tool, issues relating to its precision as an analysis framework are acknowledged as potentially limiting factors. These issues arise due to the vast quantity of potentially applicable variables, as well as possible subjective interpretations relating to the prospective relevance of the PEST factors. Caution and critical reflection is accordingly advised when interpreting the outcomes of this analysis.

  5. 5.

    Please refer to the glossary and Chap. 2 for a more detailed definition of responsible management.

  6. 6.

    For clarification, Crane and Matten (2010, p. 551) note that business ethics/responsibility is not really a separate branch of management at all. Consequently, the corporate approaches, including the management tools and techniques in this field, could be interpreted as evolving.

  7. 7.

    For clarification, Table 5.1 presents a purposefully chosen overview of some selected contributions to the literature in this field from the time when the original framework was developed in 2005/2006 (O’Riordan, 2006). This was subsequently updated in 2008 (O’Riordan & Fairbrass, 2008). The critical review below additionally includes new updated material from later reviews in 2015 (O’Riordan & Zmuda, 2015), as well as fresh secondary research undertaken for the purpose of this book. The resulting combined review presented in this section spans a 10-year time period to critically examine the various theories, concepts, ideas, management tools, and frameworks, which are considered useful when attempting to describe, analyse, and/or explain both the rationale behind a stakeholder-orientated corporate approach (i.e. why) and how sustainable stakeholder relationships are managed from a corporate perspective.

  8. 8.

    Including, for instance, the distinctive nature of the pharmaceutical industry, as well as the comprehensive operating scope required to address stakeholder matters, such as the macro-, industry, and sectoral level of analysis, in addition to the micro-perspective of the firm, while not forgetting the individual level of analysis.

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  1. FOM University of Applied Sciences, Hochschule für Oekonomie & Management, Essen, Germany

    Linda O’Riordan

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O’Riordan, L. (2017). In Search of Relevant Management Frameworks and Tools. In: Managing Sustainable Stakeholder Relationships. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-50240-3_5

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