A Critical Review of the Underlying Dynamics Between Stakeholder Value Addition and Organisational Strategies
DOI:
https://doi.org/10.70267/gtsk5x50Keywords:
Stakeholder Engagement, Organizational Strategy, Value Creation, Competitive Advantage, Strategic AlignmentAbstract
This paper critically examines how stakeholder value addition influences organisational strategies, highlighting key strategic outcomes affected by various stakeholder engagements. Utilizing a theoretical framework that integrates the Stakeholder Theory with the Strategic Management Model, the study systematically explores the reciprocity between stakeholders' expectations and organisational policy-making. Through a qualitative analysis of case studies across diverse sectors, the research illuminates the processes through which stakeholder interests are prioritized and integrated into the strategic objectives of organizations. The findings underscore the importance of aligning stakeholder management with core business strategies to foster sustainable growth and competitive advantage. Additionally, this review identifies potential pitfalls and best practices in stakeholder engagement, providing insights into how effective stakeholder integration can drive strategic innovation and enhance organisational resilience. This synthesis of stakeholder-related strategic dynamics offers significant contributions to both academic literature and practical management approaches, advocating for a more inclusive understanding of stakeholder impacts on organizational success.
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Copyright (c) 2024 Zhimeng Zhuang (Author)
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