Institut für Betriebswirtschaftslehre Lehrstuhl für Unternehmensführung und -politik Stakeholder View

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1 Stakeholder View 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 Agenda Stakeholder View The license to compete Fallstudie Îschgl Business & Society Prof. Dr. Sybille Sachs 3

4 Agenda Stakeholder View (Folien 6-17; Sachs & Rühli 2011, Kapitel 1, 4 & 5) Strategieansätze (Folien 18-20) The license to compete (Folien 21 31; Sachs & Rühli 2011, Kapitel 8) Business & Society Prof. Dr. Sybille Sachs 4

5 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 5

6 Theory debate: New Paradigm Required Traditional economic and managerial thinking characterized by the functionalist paradigm originally rooted in the period of the Enlightenment (Smith, A. (1852). Inquiry into the Nature and Causes of the Wealth of Nations. London: T. Nelson & Sons.) Post -Enlightenment Capitalism: Interrelatedness of different sectors (e.g. business and society): firm's value creation from a primarily economic perspective to a more comprehensive view (economic and social) Actors as human nature in its full complexity Need to harmonize individual and community interests at the same time Shift from control to mutuality Stakeholder Paradigm Quelle: Sachs & Rühli (2011: chapter 1) Business & Society Prof. Dr. Sybille Sachs 6

7 The Stakeholder Paradigm 1. Nature of the firm: Firm as an economic and social institution embedded in a stakeholder network 2. Purpose of the Firm: Value creation by improving and sustaining the quality of life of human beings and nature 3. Mutuality: Value creation results from mutual interaction between the firm and the stakeholders Quelle: Sachs & Rühli (2011: chapter 5) Business & Society Prof. Dr. Sybille Sachs 7

8 Stakeholdernetzwerk einer Pharmaunternehmung Pharmaindustrie Swissmedic BAG Patientengruppen Universitäten Politiker Pharmaunternehmung Apotheken Krankenkassen Kantone Ärzte Spitäler HMOs Konsumentenorganisationen Medien Patienten Business & Society Prof. Dr. Sybille Sachs 8

9 Stakeholder The stakeholders in a corporation are individuals and constituencies contributing, either voluntarily or involuntarily, to its wealth-creating activities, and who are therefore potential beneficiaries and/or risk bearers of its operations. Quelle: Post, Preston & Sachs (2002: 19) Business & Society Prof. Dr. Sybille Sachs 9

10 Roles of firms and stakeholders in the value creation processes Benefit providers: participants in value creation can contribute in a variety of ways, from emotional engagement to sharing resources. Benefit receivers: participants in value creation can benefit due to gaining or enhancing their resources of any kind. Risk bearers: by making specific contributions, the participants in value creation take specific risks. It may be difficult for them, for example, to apply and evaluate specific knowledge outside the network. Risk providers: participants of value creation can pose potential threats to interactions in the network and can even destroy value. Quelle: Sachs & Rühli (2011: 60) Business & Society Prof. Dr. Sybille Sachs 10

11 Residual Claimer View (Mitchell 2016) Strategic factor stakeholder is defined as (1) the provider of a resource (2) requisite to the generation of economic profit by a firm (as a nexus of agreements, (3) the value of which is uncertain ex ante, who (4) due to the resulting incomplete contract, may (5) claim ex post rights to the residual of that firm Business & Society Prof. Dr. Sybille Sachs 11

12 Easy Jet will in zehn Jahren mit Elektroflugzeugen abheben In rund zehn Jahren möchte die Fluggesellschaft Easy Jet mit Elektroflugzeugen unterwegs sein zumindest auf allen Kurzstreckenflügen. Dafür hat sich das britische Unternehmen nun definitiv mit dem kalifornischen Startup Wright Electric zusammengetan, wie Easy Jet am Mittwoch mitteilte. Auf der Website von Wright Electric ist bereits ein futuristisch anmutendes Flugzeug mit Easy-Jet-Logo zu sehen. Bereits im März hatte Easy Jet Interesse am kalifornischen Aviatik-Startup bekundet, als dieses seine Pläne für Null-Emissionen-Flüge vorstellte. Wright Electric will Passagierflugzeuge bauen, die in zehn bis zwanzig Jahren Kurzstreckenflüge abdecken könnten und Platz für 120 bis 200 Passagiere bieten sollen. Diese Flugzeuge sollen etwa gleich schnell wie herkömmliche Maschinen sein und rund 540 Kilometer weit fliegen können. So könnten rund 20 Prozent der betriebenen Flüge von Easy Jet mit den neuen Flugzeugen abgedeckt werden Business & Society Prof. Dr. Sybille Sachs 12

13 Partnerarbeit Identifizieren Sie drei Stakeholder von Easy Jet anhand der Risiken und Nutzenpotentiale Business & Society Prof. Dr. Sybille Sachs 13

14 The three licenses I The operationalization of the stakeholder paradigm as we understand it is developed by the three licenses: to operate, to innovate and to compete. These licenses are not exclusively the legal authorization for corporate activity, but rather a comprehensive entitlement for a mutual value creation process between firm and the stakeholders. Quelle: Sachs & Rühli (2011: 198) Business & Society Prof. Dr. Sybille Sachs 14

15 The three licenses II License to operate: Achieving mutual value creation in accordance with society License to innovate: Improvement of mutual value creation by pooling and developing resources owned by firm and stakeholders to reach innovative solutions Superior value: Improving the quality of life of human beings and the sustainability of the natural world License to compete: Motivation for mutual value creation by firm s and stakeholders positioning in a network view and by benchmarking between stakeholder networks Quelle: Sachs & Rühli (2011, p.83) Business & Society Prof. Dr. Sybille Sachs 15

16 Stakeholder licenses The three licenses are not only salient for the firms but also for all engaged stakeholders in mutual value creation. Stakeholders such as shareholders, customers, suppliers, NGOs etc. have to be aware that as participants in a stakeholder network they can enhance or weaken the potentials of the network but also of their own projects, issues, products or services. Quelle: Sachs & Rühli (2011: 86) Business & Society Prof. Dr. Sybille Sachs 16

17 The content of the three licenses Who are the relevant stakeholders? How do the firm and the stakeholders contribute to value creation? What are the strategies of the firm and the stakeholders? How is value distributed and evaluated? (vgl. Vorlesung Stakeholder Management und Performance 8.12.) Quelle: Sachs & Rühli (2011: 89-91) Business & Society Prof. Dr. Sybille Sachs 17

18 Classical Approaches to Strategy 2 Approaches Market-based view Resourcebased view Market or environmental orientation Strategy (Policy) Resource orientation Example: Porter Resources Marketorientation Example: Prahalad/Hamel Business & Society Prof. Dr. Sybille Sachs 18

19 Market and Resource Approach Market-based view Industry Structure Positioning Competitive Advantage Skills Competencies Resources Resource-based view Business & Society Prof. Dr. Sybille Sachs 19

20 Strategischer Erfolg Quelle des Erfolgs Strategiebedingte Rente Nachhaltig verteidigungsfähige Wettbewerbsposition Konzept Grundlage der Wettbewerbsfähigkeit Fokus Stakeholder Insbesondere Kunden Allianzpartner Industry Structure View Einzigartige Stellung in Markt / Branche Externe Chance und Gefahren Branchenstruktur / Wettbewerbskräfte Positionierung der Ug in Markt / Branche Insbesondere Investoren Mitarbeiter Resource Based View Einzigartige Kombination und Gebrauch von Ressourcen Interne Stärken und Schwächen Ressourcen / Wissen Schaffung, Unterhalt und Nutzung von Kernkompetenzen Business & Society Prof. Dr. Sybille Sachs 20

21 Basic Assumptions of the Industry Structure View (ISV) based on Theory of the Firm Firm as an actor in the competitive environment Managers as key actors: seeking and exploiting favorable positions and creating, maintaining and exploiting imperfect competitive conditions Focus on rivalry and superior position against rivals and stakeholders: threat mentality Product-markets as coordination mechanism New developments: CSR, as a broad understanding of the interrelationship between a corporation and society Quelle: Sachs & Rühli (2011, pp ); Porter (1991) Business & Society Prof. Dr. Sybille Sachs 21

22 Strategy and Society Quelle: Porter & Kramer (2006: 83) Business & Society Prof. Dr. Sybille Sachs 22

23 License to compete Competing is understood as benchmarking between similar kinds of value creation processes, and serves to increase the motivation for mutual value creation. ( ) Benchmarking between similar processes and outcomes is essential to motivate superior value creation rather than outperforming rivals. Consequently, the license to compete is provided to firms and their stakeholder network depending on their ability to stimulate value creation in and between networks. Quelle: Sachs & Rühli (2011: 81/82) Business & Society Prof. Dr. Sybille Sachs 23

24 Der Stress bei der Arbeit nimmt zu Aggressive Kunden und belastende Arbeitszeiten machen immer mehr Arbeitnehmenden zu schaffen. Das zeigt die erste Auswertung einer Seco- Studie bei 400 Unternehmen. Am interessantesten sind die Stressursachen. Wissenschaftler nennen sie «psychosoziale Risikofaktoren». Gefragt wird, welche ein Risiko sind. Am häufigsten genannt wurde «der Kontakt mit schwierigen Kunden». 61 Prozent der befragten Firmen nannten dies als Ursache. Am zweithäufigsten genannt wurden «belastende Arbeitszeiten» (43 Prozent) Business & Society Prof. Dr. Sybille Sachs 24

25 Partnerarbeit Diskutieren Sie, welche Bedeutung der zunehmende Stress von Mitarbeitenden für Schweizerfirmen für ihre Licence to operate hat Business & Society Prof. Dr. Sybille Sachs 25

26 Relevant stakeholders: direct and indirect stakeholder of the network The cast of stakeholders is also influenced by the fact that the firm can have different and changing positions in its environment and is always embedded in evolving stakeholder networks. As these stakeholders are interrelated with other stakeholders, sometimes they contribute not only directly to the value creation process but also indirectly. Quelle: Sachs & Rühli (2011:200) Business & Society Prof. Dr. Sybille Sachs 26

27 Stakeholder networks Quelle: Sachs & Rühli (2011: 84) Business & Society Prof. Dr. Sybille Sachs 27

28 Attractiveness of stakeholder network Characteristics e.g.: Size of the network Configuration of the network Value creating capability of individual firm and stakeholders Threat or support Quelle: Sachs & Rühli (2011: ) Business & Society Prof. Dr. Sybille Sachs 28

29 Strategies Positioning in a stakeholder networks Benchmarking: positioning between the stakeholder networks Business & Society Prof. Dr. Sybille Sachs 29

30 ISV - License to compete as a perspective of the Stakeholder Paradigm The traditional ISV perspective The License to compete Distribution of the whole residual profit to shareholders (capital owners) Exploitation of imperfect markets and fighting for rents Distribution of value to contributing stakeholders Superior value creation based on the ability to realize cooperation advantages and to motivate value creation in and between the networks Positioning of the firm in the industry Attractiveness of the industry Positioning in and among the stakeholder networks: benchmarking Nature and attractiveness of stakeholder networks Contributions from direct and indirect stakeholders Quelle: Sachs & Rühli (2011:152) Business & Society Prof. Dr. Sybille Sachs 30

31 Requirements in the perspective of the license to compete Both firms and stakeholders should have opportunities and incentives to contribute their potentials to mutual value creation in order to develop superior value for all involved parties. Developing transparent benchmarks of stakeholder networks is essential so that firms and the stakeholders can favor specific networks for superior value creation. Competition is seen as a stimulant for the parties involved. Mutual value creation means the interaction of a cast of stakeholders as indispensable contributors and receivers of benefit and risks. A one-sided orientation towards competition based on reaping rent has to be overcome in all markets. Quelle: Sachs & Rühli (2011:163,164) Business & Society Prof. Dr. Sybille Sachs 31

32 Strategische Herausforderung Fall Ischgl Business & Society Prof. Dr. Sybille Sachs 32

33 Strategische Herausforderung Fall Ischgl Tiroler Umweltlandesrat Ischgler Einwohner Hannes Parth, Seilbahnchef Ischgl «Das öffentliche Interesse an der Erschließung ist höher zu gewichten als die ökologischen Einwände» «wir halten zusammen und bewahren unsere Tradition und unseren Wohlstand» «Ich stehe für dieses Wachstum, für Erfolg durch Größe und für Fortschritt durch Technik»»Etwas, das besonders ist, wird geopfert für das pekuniäre Wohl einiger weniger.dass Pflanzen, die niemand kennt, wichtiger als die Menschen sind, verstehe ich nicht«deutscher Alpenverein Alfons Parth Tourismusverbands chef (rechts) 33

34 Gruppenarbeit Destination «Ischgl» Wie kann die Destination «Ischgl» ihr Stakeholder-Netzwerk attraktiver ausgestalten? 1. Beschreiben Sie dazu 3 Stakeholderbeziehungen aus der Sicht eines Hotels mit dem Ziel, die Standortattraktivität zu fördern. Welche direkten und indirekten Beziehung liegen vor? 2. Inwiefern beeinflusst die Destination Ischgl die Wettbewerbsfähigkeit des Hotels? 3. Welche Veränderungen würden Sie aus der Sicht des Hotels vorschlagen Business & Society Prof. Dr. Sybille Sachs 34

35 Literatur Mitchell, R. 2016, Strategic Factor Stakeholder, unpublished working paper Sachs, S., & Rühli, E. (2011): Stakeholders Matter A New Paradigm for Strategy in Society. Cambridge: Cambridge University Press. Porter, M. E. (1991). Towards a Dynamic Theory of Strategy. Strategic Management Journal 12 (Special Issue): Porter M. E. & Kramer, M. R. (2006): Strategy & Society, Harvard Business Review, Dec. 2006: Post, J. E., Preston, L. E., & Sachs, S. (2002): Redefining the Corporation: Stakeholder Management and Organizational Wealth. Stanford: University Press Business & Society Prof. Dr. Sybille Sachs 35