6921-31097-1-PB.pdf - Inzinerine Ekonomika-Engineering...

This preview shows page 1 - 2 out of 9 pages.

-75- Inzinerine Ekonomika-Engineering Economics, 2015, 26(1), 75 83 The Importance of Stakeholders for Corporate Reputation Migle Matuleviciene, Jurgita Stravinskiene Kaunas University of Technology K. Donelaicio st. 73, LT-44029, Kaunas, Lithuania e-mail: [email protected], [email protected] Many scientists analysed the importance of stakeholders on the ground of the interrelationship between an organization and stakeholders. Nevertheless, scientists do not define which stakeholders should be considered as the most or the least important. For this reason, the stakeholder grouping in accordance with their importance to the organization has been done. Stakeholders are divided into internal and external; primary and secondary; normative, functional, diffused and customers; regulatory, organizational, community and media; groups in the order of power and interest. In this paper, we also highlighted another stakeholder group, which we call a shadow group due to its illegal impact on the organization or industry. The analysis of stakeholder grouping initiated that while grouping stakeholders in accordance with their importance to the organization, it is worth to divide them into primary and secondary. Allocating the stakeholders to the primary and secondary groups unconsciously leads to the conclusion that primary stakeholders take the first, i.e. the most important place with regard to secondary stakeholders. It was observed that the scientists, acting on business interests, propose that even these stakeholders who find themselves in the same stakeholder group have unequal importance - the organizations give the priority to stakeholders, previously considered as the secondary. Consequently, because of these two different mainstream approaches of the theorists and the scientists, acting on business interests, it remains unclear what stakeholders should be attributed to which groups considering their importance to organization. Keywords: stakeholders, stakeholder importance, corporate reputation. Introduction The importance of scientific stakeholder analysis is unquestionable because of many scientists research in this area - the stakeholders do not lose their importance for many years. Proceedings of the first scientists are still talking points nowadays. Although the importance of stakeholders is sufficiently broad to analyze, there is a lack of detailed stakeholder analysis for corporate reputation. Many researchers provide a relatively narrow view to corporate reputation as a result of interaction between stakeholders and organization. However (Roberts & Dowling, 2002; Helm, 2007; Puncheva, 2008; Omar, 2009; Siano et al., 2010; Peloza et al., 2012) treat corporate reputation as a result of interaction between stakeholders and organization. (Capriotti, 2009) states that corporate reputation depends on how stakeholders value the organization .
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Winter '15
  • m
  • The Land, Freeman, Stakeholder theory, Importance of Stakeholders

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern