The New Model of Strategic Management: The Structure and Determination of the Final Number of Stakeholders
| Authors | |
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| Year of publication | 2018 |
| Type | Article in Proceedings |
| Conference | Proceedings of IAC in Vienna 2018 (Management, Economics, Business and Marketing (IAC-MEBM 2018) |
| MU Faculty or unit | |
| Citation | |
| Keywords | Strategic management; strategic analysis; stakeholder management; game theory; business performance; empirical research; linear regression |
| Description | The subject of the proposed paper is an introduction and empirical verificaton of an innovative model of strategic management, which offers a complex strategic analysis. The model is based on a stakeholder approach and game theory. The application of game theory determines the goal of the company in optimization of a specific parameter, in this case maximizing stakeholder value. The transfer mechanism creates profit, with shareholder value creating conditions for the development of stakeholder value. In this context the presented model is empirically verified on the correct differentiation of specific stakeholder groups, with which the company plays non-zero sum cooperative games to generate value for all participants. |
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