- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Retrospective, Perspective, and Prospective: Introduction to the Oxford Handbook on Business and the Natural Environment
- Competitive Strategy and the Environment: A Field of Inquiry Emerges
- International Business and the Environment
- Environmental Entrepreneurship
- The Value of Managing Stakeholders
- Industry Self-Regulation and Environmental Protection
- Environmental Governance
- Business and Environmental Law
- Cognitive Barriers to Environmental Action: Problems and Solutions
- Intergenerational Beneficence and the Success of Environmental Sustainability Initiatives in Organizational Contexts
- Organizational Culture and Environmental Action
- Institutional Approaches to Organizations and the Natural Environment
- Institutional Pressures and Organizational Characteristics: Implications for Environmental Strategy
- Social Movements, Business, and the Environment
- Greener Supply Chain Management
- Closed-Loop Supply Chains
- Industrial Ecology: Business Management in a Material World
- Information Systems, Business, and the Natural Environment: Can Digital Business Transform Environmental Sustainability?
- From Green Marketing to Marketing for Environmental Sustainability
- Why not Choose Green? Consumer Decision Making for Environmentally Friendly Products
- Using Market Segmentation Approaches to Understand the Green Consumer
- Sustainability and Social Responsibility Reporting and the Emergence of the External Social Audits: The Struggle for Accountability?
- Environmental Management, Measurement, and Accounting: Information for Decision and Control?
- Corporate Environmental Financial Reporting and Financial Markets
- Values-Driven and Profit-Seeking Dimensions of Environmentally Responsible Investing
- Environmental Risks and Financial Markets: A Two-Way Street
- Corporate Decision-Making, Net Present Value, and the Environment
- The Relevance of the Natural Environment for Corporate Social Responsibility Research
- Business, Society, and the Environment
- The New Corporate Environmentalism and the Symbolic Management of Organizational Culture
- Critical Perspectives on Business and the Natural Environment
- Approaching Business and the Environment with Complexity Theory
- Beyond the Brave New World: Business for Sustainability
- Looking Back, Thinking Forward: Distinguishing Between Weak and Strong Sustainability
- Enterprise Sustainability 2.0: Aesthetics of Sustainability
- Tomorrow's C-Suite Agenda
- The Third-Generation Corporation
- Capitalism Critique: Systemic Limits on Business Harmony with Nature
Abstract and Keywords
This article investigates how firms can create value by managing their complex relationships with multiple stakeholders over time. It discusses the fundamental question of who matters to firms and why. Five main stakeholder groups are considered: regulators, activists and geographic communities, customers, employees, and corporate boards. It also describes the issues involved when considering a firm's polymorphous network of stakeholders and their influences. It is shown that the more dependent an organization is on a group, the greater the power of that group and the greater its ability to influence organizational outcomes. There exists an imbalance in resource dependence favoring firms, as poorer communities may be more dependent on firms for resources than the other way around. Furthermore, the significance of addressing temporality, change, and the notion of co-creation of value in environmental stakeholder research is evaluated.
George Kassinis, Associate Professor of Strategy, Department of Public and Business Administration, University of Cyprus.
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