Institut für Betriebswirtschaftslehre Stakeholder Management und Performance

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1 Stakeholder Management und Performance Prof. Dr. Sybille Sachs Universität Zürich

2 Business & Society Einführung und Fallbeispiel Stakeholder Management Einführung in das Stakeholder Management Stakeholder View Teil I Stakeholder View Teil II Stakeholder Management und Performance Normatives Stakeholder Management Issue-basiertes Stakeholder Management Business Ethics Grundfragen Unternehmensethik I & II & Glaubwürdigkeit I III / / Implementierung (Fallstudie) Business & Society Prof. Dr. Sybille Sachs 2

3 Stakeholder Theory Major Themes (Laplume et al. 2008) Theme 1: definition and salience of stakeholders (vgl. Vorlesung Stakeholder Management) Theme 2: stakeholder actions and responses (vgl. Vorlesung Stakeholder View) Theme 3: firms actions and responses (vgl. Vorlesung Stakeholder View) Theme 4: firm performances (vgl. Vorlesung Stakeholder Management und Perfomance) Theme 5: theory debates (vgl. Vorlesung normatives Stakeholder Management) Business & Society Prof. Dr. Sybille Sachs 3

4 Agenda SHV II Folien Corporate Social/Stakeholder Responsibility Performance: evaluation and measuring of the stakeholder value Gastreferent: Dr. Marc Moser, LGT Venture Philanthropy Business & Society Prof. Dr. Sybille Sachs 4

5 Agenda Stakeholder View II (Folien 22-30) Corporate Social/Stakeholder Responsibility (Folien 6-16; Sachs & Rühli 2011, chapter 5) Evaluation and measuring of the stakeholder value (Folien17, 18; Sachs & Rühli 2011, chapter 5, Folien Harrison, & Wicks 2013) Business & Society Prof. Dr. Sybille Sachs 5

6 The Corporate Responsibility Pyramid (CSR I) Quelle: Carroll (1991, p. 42) Philanthropic responsibility to be a good citizen Ethical responsibility to behave ethically Legal responsibility to respect the law Economic responsibility to make profit Business & Society Prof. Dr. Sybille Sachs 6

7 Level of analysis, image of firm and corporate responsibility Level of analysis Corporate social identity Corporate responsibility institutional organizational As member of a business institution As organizational unit and member of a social network Charity Economic Responsibility Social Responsibility individual As group of individuals Moral Responsibility Source: Kang & Wood (1995, p. 414)

8 Three arguments against the Separation Thesis Distinction of responsibilities categories Moral substitute Separation of business and ethics Quelle: Freeman et al. (2010) Business & Society Prof. Dr. Sybille Sachs 8

9 CSR and Stakeholder Theory From CSR.to Company Stakeholder Responsibility Quelle: Freeman et al. (2010) Business & Society Prof. Dr. Sybille Sachs 9

10 Gesellschaftliche Verantwortung der Unternehmen: Positionspapier des Bundesrates _Verantwortung_der_Unternehmen/Positionspapier_und_Aktionsplan_BR.html Nutzen für Unternehmen wirtschaftlicher Nutzen (Z.B. Einsparungen beim Energie- und Rohstoffverbrauch, Reduktion von krankheitsbedingten Absenzen und Unfällen, bessere Kreditbedingungen etc.) Förderung der Wettbewerbs- und Innovationsfähigkeit durch CSR Steigerung der Arbeitgeberattraktivität Nutzen für Gesellschaft: Beitrag zur Lösung von gesellschaftlichen Herausforderungen Erhaltung der natürlichen Lebensgrundlagen, Schutz der Gesundheit und Verminderung der Kosten für die Gesellschaft Vorbildfunktion für andere Länder Business & Society Prof. Dr. Sybille Sachs 10

11 Stakeholder Theory: Procedural and Distributive Justice Stakeholder theory is concerned with who has input in decision-making as well as with who benefits from the outcomes of such decisions. Procedure is as important to stakeholder theory as the final distribution. Quelle: Phillips, Freeman & Wicks (1994: 487) Business & Society Prof. Dr. Sybille Sachs 11

12 Value creation and stakeholder involvement I Stakeholder groups (examples) Contributions to value creation Stakeholder involvement regarding strategic responsibility process Resource-based View Shareholders Employees Capital expenditure, capital risk bearer Benefits from human capital; firm-specific investments Voting power at general assembly Forum for information and participation of employees (sounding board) Quelle: Sachs & Maurer (2009: 538) Business & Society Prof. Dr. Sybille Sachs 12

13 Value creation and stakeholder involvement II Stakeholder groups (examples) Contributions to value creation Stakeholder involvement regarding strategic responsibility process Industry Structure View Customers/Users Suppliers Risks of not being served anymore due to corporate focusing Risks due to specific differentiation of suppliers and resulting dependence on firm Round tables for product and service innovations (lead users) Involvement into product and service development processes Quelle: Sachs & Maurer (2009, p.538) Business & Society Prof. Dr. Sybille Sachs 13

14 Value creation and stakeholder involvement III Stakeholder groups (examples) Social-political arena Community Government Contributions to value creation Bearing risks due to pollution and contamination Benefits by tax reductions due to increasing location attractiveness Stakeholder involvement regarding strategic responsibility process Involvement of representatives in strategic sustainability boards Development of new jobs Quelle: Sachs & Maurer (2009, p.538) Business & Society Prof. Dr. Sybille Sachs 14

15 Creation and dissemination of value I Stakeholder groups (examples) Contributions to value creation Value dissemination Resource-based View Shareholders Employees Capital expenditure, capital risk bearer Benefits from human capital; firm-specific investments Residual benefit; Shareholder Value Education, employability, bonus systems, motivation etc. Quelle: Sachs & Maurer (2009, p.539) Business & Society Prof. Dr. Sybille Sachs 15

16 Creation and dissemination of value II Stakeholder groups (examples) Contributions to value creation Value dissemination Industry Structure View Members of supply chain Contribution to network efficiency, cooperation and performance Procurement conditions, compensation of supplier risk and knowledge contribution Joint Venture- Partner and alliances Complementing of resources, stabilizing of market position Benefit and profit sharing, compensation for alliance risk Quelle: Sachs & Maurer (2009, p. 539) Business & Society Prof. Dr. Sybille Sachs 16

17 Creation and dissemination of value III Stakeholder groups (examples) Contributions to value creation Value dissemination Social-political arena Community Non-government organizations (NGOs) Bearing risks due to pollution and contamination Information on emerging social risks Corporate philanthropy, financial and non-financial compensations for risks borne Knowledge exchange, transparency; considerations of other stakeholders expectations Quelle: Sachs & Maurer (2009, p. 539) Business & Society Prof. Dr. Sybille Sachs 17

18 Evaluation concept Quelle: Sachs & Rühli (2011: 92) Business & Society Prof. Dr. Sybille Sachs 18

19 Measuring stakeholder value Quelle: Harrison & Wicks (2013) Business & Society Prof. Dr. Sybille Sachs 19

20 Plaza-Úbeda et al. (2010) Business & Society Prof. Dr. Sybille Sachs 20

21 Dimensions of stakeholder integration (Plaza- Úbeda et al., 2010) Dimension 1: Knowledge of stakeholders Item 1: The company keeps documented information on the previous relationships with stakeholders (important meetings, conflicts, agreements, judicial or extrajudicial demands, etc.). Item 2: Knowledge of all stakeholders and their demands is very important for the managers (performance, relationships among them, positions of power, importance and satisfaction ). Item 3: The company obtains feedback on its repercussions on stakeholders. Item 4: The company dedicates little time and few resources to knowing the characteristics of its stakeholders (relationships between different stakeholders, potential threats, cooperation, etc.). Item 5: There is a lack of information and documentation on stakeholders demands. Business & Society Prof. Dr. Sybille Sachs 21

22 Dimensions of stakeholder integration (Plaza- Úbeda et al., 2010) Dimension 2: Interaction between stakeholders and company Item 6: The company frequently has meetings with the stakeholders. Item 7: The company consults the Stakeholders and asks them for information before taking decisions. Item 8: The company s formal or informal cooperation with the stakeholders is intense (commitments, collaboration agreements ). Item 9: Stakeholders participate in the company s decision-taking process. Item 10: The company strives to develop new contacts with all the stakeholders. Item 11: The company dedicates time and resources to assessing and prioritizing the demands of the different stakeholders. Business & Society Prof. Dr. Sybille Sachs 22

23 Dimensions of stakeholder integration (Plaza- Úbeda et al., 2010) Dimension 3: Adaptational behavior Item 12: The company makes a special effort to prepare the information for the different stakeholders. Item 13: There is frequent managerial debate about the demands of the stakeholders. Item 14: The company is willing to change its objectives in line with stakeholders demands. Item 15: The company s policies and priorities are adapted to Stakeholders demands. Business & Society Prof. Dr. Sybille Sachs 23

24 Warum wir den Dialog mit Patientenorganisationen suchen I Novo Nordisk arbeitet mit unterschiedlichen Patientenorganisationen und Selbsthilfegruppen zusammen. Der kontinuierliche Kontakt mit Menschen ist uns wichtig, denn von einem partnerschaftlichen Dialog profitieren beide Seiten: Patientenorganisationen sind über die Bedeutung der rechtzeitigen Diagnose, die verfügbaren Therapieoptionen informiert und wir als Pharmaunternehmen erfahren aus erster Hand, welche Auswirkungen die Erkrankung auf das Leben der Patienten hat und welche Bedürfnisse Patienten haben. Die Unterstützung der Pharmazeutischen Industrie hilft Patientenorganisationen und Selbsthilfegruppen dabei, ihre Ziele (wie z.b. Informationsaustausch, Beratung etc.) umzusetzen. Business & Society Prof. Dr. Sybille Sachs 24

25 Warum wir den Dialog mit Patientenorganisationen suchen II Unsere Grundsätze Wir gestalten die Zusammenarbeit und Unterstützung mit den Patientenorganisationen transparent und nachvollziehbar, ohne die Unabhängigkeit und Integrität der Organisationen zu beeinflussen. Patientenorganisationen erhalten von uns ausschließlich ausgewogene und korrekte Informationen über aktuelle Behandlungsmethoden. Die geltenden rechtlichen Bestimmungen sind für die Informationsbereitstellung massgeblich. Business & Society Prof. Dr. Sybille Sachs 25

26 Partnerarbeit Diskutieren Sie die drei Dimensionen der Stakeholderintegration anhand der Beziehung von Novo Nordisk und den Patientenorganisationen. Business & Society Prof. Dr. Sybille Sachs 26

27 Literature Carroll, A. B. (1991): The pyramid of corporate social responsibility Toward the moral management of organizational stakeholders. Business Horizons 34(4): Harrison, J. S. & Wicks, A. C. (2013). Stakeholder Theory, Value, and Firm Performance. Business Ethics Quarterly, 23, Kang, Young-Chul & Wood, Donna J. (1995): Before-profit social responsibility: Turning the economic paradigm upside down, Proceedings of the Sixth Annual Meeting of the International Association of Business and Society, Vienna: Phillips, R., Freeman E. R., & Wicks, A. C. (2003): What Stakeholder Theory is Not. Business Ethics Quarterly,13(4): Plaza-Úbeda, J. A., de Burgos-Jiménez, J., Carmona-Moreno, E. (2010): Measuring Stakeholder Integration: Knowledge, Interaction and Adaptational Behavior Dimensions. Journal of Business Ethics 93: Sachs, S. & Rühli, E. (2011): Stakeholders Matter A New Paradigm for Strategy in Society. Cambridge University Press: Cambridge. Sachs S., & Maurer M. (2009): Toward Dynamic Corporate Stakeholder Responsibility. Journal of Business Ethics 85: Business & Society Prof. Dr. Sybille Sachs 27