Stakeholder Management and Communication - Stakeholder Management

6 important questions on Stakeholder Management and Communication - Stakeholder Management

What suggests the neo-classical economic theory?

It suggests that the purpose of an organization is to make profit


What suggests the socio-economic theory?

Responsibility to all groups/people the organization is in contact with

Characteristics of the input-output model?

  1. Linked to neo-classical theory
  2. Power lies within the organization
  3. Other parties are dependent
  4. Relationship between parties and the organization is financial
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Characteristics of the stakeholder model?

  1. Linked to socio-economic theory
  2. opposite of input-output model
  3. all persons with interest in an organization obtain benefits
  4. No priority for one set of interest and benefits over another
  5. Relationship financial, market based etc.


What is an instrumental reason?

Connection between stakeholder management and corporate performance


What are normative reasons?

  • Stakeholders are persons that are identified by their interests (rights, social contacts, morality)
  • There may or may not be an economic interest

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