Applying Stakeholder Theory in Sustainability Management: Links, Similarities, Dissimilarities, and a Conceptual Framework. (December 2014)

• Record Type: Journal Article
• Authors: Hörisch, Jacob; Freeman, R. Edward; Schaltegger, Stefan
• Is Part Of: Organization & environment. Volume 27:Number 4(2014:Oct.)
• Page Start: 328
• Page End: 346
• Publication Date: 2014-12
• Subjects: sustainability management -- stakeholder theory -- theories in sustainability management -- mutual interests -- value creation -- business case for sustainability -- sustainability-based value creation for stakeholders -- conceptual framework -- empowering stakeholders; Associations, institutions, etc -- Environmental aspects -- Periodicals; Business enterprises -- Environmental aspects -- Periodicals; Environmental management -- Periodicals; Environmental responsibility -- Periodicals; Sustainability -- Periodicals; 658.408305
• DOI: 10.1177/1086026614535786
• Languages: English
• ISSNs: 1086-0266

Abstract

This essay examines links, similarities, and dissimilarities between stakeholder theory and sustainability management. Based on the analysis a conceptual framework is developed to increase the applicability and the application of stakeholder theory in sustainability management. Concluding from the analysis, we identify three challenges of managing stakeholder relationships for sustainability: strengthening the particular sustainability interests of stakeholders, creating mutual sustainability interests based on these particular interest, and empowering stakeholders to act as intermediaries for nature and sustainable development. To address these challenges three interrelated mechanisms are suggested: education, regulation, and sustainability-based value creation for stakeholders.