lSTAKEHOLDER THEORY

Business Research Business Research

Learning Log

For the purpose of learning log, I have selected the three articles by searching the keyword such as “stakeholder theory” in the search box. There appeared many articles with such a keyword. As per Google statistics, the results were around 230,000 pertaining to the key world “stakeholder theory”. However most of them were irrelevant, for instance, they had the tinge of political science, sociology etc. Where this theory was related directly or indirectly. In order to further refine the research, I included the term “organization” with the earlier term. This, as a matter of fact, gave me more refined researches. The count after the inculcation of this reduced to around 90,000 research papers on Google scholar. Further, I engulfed “corporate social responsibility” which ultimately ended up having around 3000 research papers.

Till that stage, the major role was of Google in making things happen. However, the final count was around 3000 which was also massive to search for relevant article. From here, I started to review those research papers which were seen most appropriate. Through skimming of irrelevant material, I stepped further and started reviewing articles. As a matter of fact, my objective was to locate an article which can address how the stakeholder theory harbingered the concept of corporate social responsibility.

After reviewing the search results I selected the articles by comparing the impact factor of the journal and the ABS rating. The main purpose of this step was to enhance the quality of research by selecting most valuable and renowned research journals. Out of three, one article is of grade 3, one is of grade two, and one is of grade one. Since, the grading score is good enough for the selection of the particular articles from the internet; finally the articles were then selected after reviewing articles for the respective theme of the research. All in all, there is a strong mechanism as well as well constructed thought behind the selection of articles. The purpose was to select most appropriate article using online resources and the necessary skills. Searching of articles the suitable combination of keywords and further making refining them according to ABS standards is very critical.

Summary

Over the years debate is going on the fundamental objective of the firm, researchers, policy makers and economists believe in the objective of the firm which supports the interest of various stakeholders such as suppliers, employees, etc. Michael Jansen explains the relationship between stakeholder theory and value maximization. He explored the existing literature on the topic and argues that though stakeholder theory's structure is much more utilized by the value maximization, but accepts that tradeoffs among stakeholders and specification of long term value seeking or value maximization as the objective of the firm depends upon the long-run value of the firm. Author clearly explained the importance of stakeholders' interest with respect to firm goals. He argued that maximization of the firm value is not possible until the interests of stakeholders are ...