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"The dominant shareholder-value model has led to mismanagement, market failure and a boost to regulation, as spectacularly demonstrated by the events surrounding the recent financial crisis. Stakeholders Matter challenges the basic assumptions of this model, in particular traditional economic views on the theory of the firm and dominant theories of strategic management, and develops a new understanding of value creation away from pure self-interest toward mutuality. This new 'stakeholder paradigm' is based on a network view, whereby mutuality enhances benefits and reduces risks for the firm and its stakeholders. The understanding of mutual value creation is operationalized according to the license to operate, to innovate and to compete. The book develops a vision for a strategy in society in which, rather than the invisible hand of the market, it the visible hands of the firm and the stakeholders that lead to an overall increase in the welfare of society"--

Challenged by recent incidents as they occurred at Enron, WorldCom, Disney and Xerox, management has to rethink its values and to consider the expectations of their stakeholders. In reality, it can be observed that some firms are already on a learning path to adopt a broader stakeholder‐oriented view than before. In order to implement the stakeholder view better into strategic thinking of management, top managers have to change their values which are challenged by stakeholder‐oriented incentives. Based on three comparative case studies some first propositions are developed.

Abstract
This paper contends that modern evolutionary concepts developed in different scientific fields can improve the understanding of a firm's strategic change in the new competitive realities.
The arguments and reflections are distilled into four propositions characterizing multilevel strategic change under the conditions of complexity and dynamics.
Theoretical points are illustrated with examples and statements by reference to Shell and show how the management of this firm influenced the strategic evolution.
Copyright © 2001 John Wiley & Sons, Ltd.

In modernen Organisationen greifen traditionelle Führungskonzepte oft zu kurz, weil sie sich auf die Beziehung zwischen Vorgesetzten und Mitarbeitenden konzentrieren. Der entscheidende Vorteil dieser Organisationen liegt aber in der Agilität der Teams und der Fähigkeit ihrer Mitglieder zur Kooperation. In diese Richtung geht auch ein wichtiger Teil der aktuellen Leadership-Forschung, der sich mit der multidimensionalen Followership beschäftigt. Das Buch bietet neben den theoretischen Hintergründen vor allem eine ganz konkrete Anleitung in logisch aufeinander aufgebauten Schritten und mit vielen Beispielen, wie dieses Führungskonzept in der Praxis angewendet werden kann. Es ist im wahrsten Sinne des Wortes ein «Work Book». «Beyond Leadership»richtet sich an Führungskräfte aller Stufen und Branchen sowie an Fachleute für Organisations- und Personalentwicklung und Verantwortliche für die Gestaltung von Führungsarbeit in Vereinen und anderen Milizorganisationen.

AbstractManagement should focus on interacting and partnering with all stakeholders to enhance corporate performance and firm's value.

PurposeThis paper aims to show how instruments of empirical opinion research can help to provide a basis for interactive communication between a company and its stakeholders via the media, so that important issues can be identified and discussed internally and externally. By doing this, the company can actively participate in the process of forming public opinion and building trust.Design/methodology/approachConcentrating on the company of Pfizer, in order to acquire a comprehensive view, an empirical analysis of the opinions of those stakeholders mentioned in Pfizer's vision was conducted. In a first step, a content analysis of the Pfizer web site, two representative computer‐aided telephone interviews (CATI) surveys with the Swiss public, a content analysis over a period of two years of the five most important daily newspapers, and interviews with the top management team of Pfizer Switzerland were carried out. In a second step, the findings of the analysis were reflected on in a workshop with Pfizer's top management team.FindingsThe role of the media was recognised for its function for informing, and as a platform for initiating dialogues in appropriate areas of interaction. But it was also obvious that the reports published by the media, and the actual perception of the population, were distinctly different. In this realm, opinion research in its function of objectifying information makes a significant contribution to the ability to reflect on the actual situation.Originality/valueThe knowledge of the opinions of the relevant stakeholders based on a high standard of empirical data and the self‐reflection by senior management of its own beliefs provide an additional foundation for stakeholder‐oriented communication.

PurposeIn the research project "Good practices of stakeholder view" three firms in the Swiss telecommunications industry were analysed in order to compare their stakeholder involvement. This paper seeks to illustrate how these three firms, namely Swisscom, Sunrise, and Orange, dealt with a particular problem all of them faced: the deployment of antennas for mobile telephony that in some cases was strongly opposed by the population. Thereby, the "Telco" firms were challenged as societal institutions and had to defend their licence to operate. The three firms chose different strategies to deal with the problem.Design/methodology/approachThe paper is based on comparative case studies that combine qualitative and quantitative aspects.FindingsThe benefits of good stakeholder relations are illustrated as well as the problems that might arise when stakeholders are ignored.Research limitations/implicationsThe findings are based on a sample of three telecommunication firms.Practical implicationsThe paper suggests good practices for firms that aim to improve their stakeholder interactions.Originality/valueThis paper sheds light on the value of different strategies in the stakeholder relations to maintain a firm's licence to operate and to pursue its business in the intended way.

PurposeOwing to the fact that the concept of "CSR orientation in different cultural settings" is still quite unexplored, both in CSR theory and in empirical research the paper aims to contribute to the question of how corporations can deal with different CSR orientations when they perform their activities in different cultural settingsDesign/methodology/approachTheoretically, the analysis is based on two well‐known corporate social responsibility (CSR) approaches: first, reference is made to Carroll who reflects the economic paradigm as the basic layer of a pyramid in all cultural settings as economic responsibility and, on the opposite side, to Kang and Wood who give priority to moral and social responsibilities aligned to the difference of cultural settings. Based on the comparison of these theories in addition to a qualitative case study in the reinsurance industry some practical insights will be provided into and managerial implications developed regarding how to respond to the challenges of corporate responsibility due to multiculturalism.FindingsIt is claimed that corporations which follow a CSR understanding corresponding to the pyramid of Kang and Wood are better prepared to deal with differences regarding CSR orientation in different cultures compared with corporations that are based on the thinking of Carroll's pyramid.Originality/valueChanging societal concerns and different local expectations across various countries, in the context of instantaneous world‐wide communication, have strongly increased the exposure of corporations to external criticism and challenge. These effects are intensified for large multinational firms, where complex interactions among distant and diverse constituencies have become commonplace. Broad societal concerns challenge the core strategies of corporations and require strategic responses. But this important strategic challenge response process cannot be analyzed within the traditional views of the firm. Therefore, a paradigm shift is asked in corporate responsibility.