Business and Management Research News

Dr. Eskerod Contributes to Oxford Research Encyclopedias

Prof. Dr. Pernille Eskerod, Professor of Management, is thrilled that her recent contribution to the Oxford Research Encyclopedia has been published. Her chapter, titled “A Stakeholder Perspective: Origins and Core Concepts,” describes the nascent beginnings of stakeholder management theory as conceived in the mid-20th Century in both Sweden and the United States, and tracks the developments thereof over the ensuing decades. She roots her chapter in the field’s seminal works and authors, describes salient case studies, and points to opportunities for future research.

Stakeholder management theory presumes that the relationships formed and fostered between and among stakeholders are the true drivers of value creation. Dr Eskerod expands upon this in her abstract: “Assuming that the fundamental driver of value creation is stakeholder relationships, managing those relationships well is a prerequisite for obtaining and sustaining success in all businesses, regardless of the success measures applied.”

In the 1960s, stakeholder management was a departure from standard thought about how successful companies prospered. Stakeholder management theory expanded the definition of value creation from one which focused on company profits and financial value for investors to recognize the inherent value, whether quantifiable or not, of everything from longstanding supply chain relationships to the dynamic between management and labor unions. 

Webster Vienna students learn about stakeholder management theory at both the undergraduate and graduate level in courses such as Management Theory and Practices, Business Ethics, Change Management, Managerial Policies and Strategies, and Strategy and Competition; and some students even choose to write their respective theses on the topic. 

You can read Dr. Eskerod’s entire chapter at the link provided. “I’ve been working on it for years,” she shares, “and I am so happy that it’s finally available for everyone to read!” 

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