INTRODUCTION

This chapter shows how the stakeholder concept can be used to formulate specific programs for dealing with a broad range of stakeholder groups. In order for the implementation of “stakeholder thinking” to become a reality, the broad prescriptions and philosophical meanderings of the previous four chapters must be narrowed. Specifically, I shall explain how the stakeholder concept can be used at the process level to begin the task of implementing concrete action programs. This chapter explicitly addresses the program formulation task, while chapter Six addresses more directly, the question of implementation.

In the previous pages I have shown that managers need to see the big picture in terms of those groups and individuals who can affect, and are affected by, their actions. I have shown how the stakeholder concept can be used to construct an enterprise strategy for the firm, and how the more traditional direction-setting processes can be enriched.

While this “larger Systems” view of the Corporation is a necessary condition for managerial success in the current environment, I do not believe that it is sufficient. If managers merely(!) understand the role that their organizations play in society at large, and merely(!) understand their own values, we are not guaranteed that responsive action will occur.