WHEN STAKEHOLDER THEORY MEETS JUSTIFICATION THEORY: AN INTERSECTION PROPOSAL

CUANDO LA TEORÍA DE LOS STAKEHOLDERS SE ENCUENTRA CON LA TEORÍA DE LA JUSTIFICACIÓN: UNA PROPUESTA DE INTERSECCIÓN

Abstract

We discuss an interplay between two theories by addressing the question: In what ways can the Justification theory (JT) complement the Stakeholder theory (ST)? While ST provides an insight on the importance of creating value for stakeholders without resorting to tradeoffs, it does not address how several stakeholders employ justifications to achieve their goals, nor does it explore the analytical thinking on how organizations and their stakeholders account for and negotiate behaviors during disputes. The JT provides a framework that interprets social interactions and tensions by considering that actors’ decisions and actions are contextualized within organizational reality. Several studies that apply the JT framework in the context of organizations do so by directly or indirectly analyzing stakeholders. Hence, this essay sheds light on how such an intersection may help to comprehend the phenomena related to disputes. The study offers tools and contributes to understanding managerial practices for stakeholders identification and engagement since, to the best of our knowledge, there is a research gap regarding the intersection between JT and ST.

Keywords:
Stakeholder theory; Justification theory; Management practices; Public controversies