Applying Stakeholder Theory to the Management Functions

Abstract

Figure 4.1 illustrates the major management functions to which stakeholder theory and management strategies can be applied. In fact, stakeholders can influence, and be influenced by, ALL aspects of planned events, so this is merely a starting point. Subsequent sub-sections with diagrams look more closely at each of these functional areas and how they influence planned events. From the theoretical discussions presented so far in this book it should be clear that stakeholders are to be considered an integral part of event management and event tourism, not an isolated issue to be considered once in a while. This suggests that external stakeholder relations be a management function on its own, or tied to a position called something like ‘External Relations’. For internal stakeholders a different approach might be required, as each manager within the organization is going to have specific stakeholder issues to deal with on a continuous basis. Bringing these issues into one integrated approach will be the responsibility of the executive. This chapter also brings other theoretical perspectives to bear on stakeholder management. For example, starting with organizing and planning, we identify five themes for special consideration, each being informed by other theories. Strategies and projects links with institutional theory (e.g., how to become a permanent institution) and project networks including the political market square. Accordingly, these discussions provide a launching point integrating many theoretical perspectives on management.