The Relevance of Stakeholders in an International Context

Abstract

The study of the stakeholders is key to a firm's survival and success. This chapter serves as a point of reference for managers by providing a better understanding of stakeholder theory and of the different groups of stakeholders. Additionally, the chapter analyzes the international scenario characterized by globalization and a high level of competitiveness in order to understand the role played by specific stakeholders such as shareholders, employees, governments, and non-governmental organizations. After reading this chapter, readers should be able to understand the basic principles of stakeholder theory; to identify the different groups of stakeholders, analyzing the role that they play in the firm; to understand the motives which push firms to operate internationally and the different methods that they can use to carry this out; and to reflect on the key stakeholders in an international context.