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Institutionalizing Stakeholder Engagement

  • Aimee L. Franklin
Chapter
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Abstract

Processes for gathering representative inputs about organizational activities or preferences related to decisions are seldom institutionalized. After reviewing the inputs of stakeholders, participation activities, and participant motivations in the earlier chapters, this statement may not seem surprising. There are almost as many types and groupings of stakeholders as there are active and passive participation activities. The number and variety of both have been continuously growing alongside globalization and technological advances, which, when combined, increase the geographic reach of stakeholders and organizations. Motivations can push and pull people into participation. Making an organizational commitment to a stakeholder engagement regime signals that an organization desires to be proactively responsive to stakeholders through their decisions as well as in the everyday activities of providing goods and services. Stakeholder engagement practices promote and evaluate relationships and design strategies for relationship management that can enhance value creation related to the organization’s economic and social performance goals.

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© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Aimee L. Franklin
    • 1
  1. 1.University of OklahomaNormanUSA

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