How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool
Many different companies have decisively embraced the New Business Narrative focused on the Stakeholder Theory and it has been part of the ethos of leading companies worldwide for some time now. However, a systematic process has not been developed to identify an organisation’s withdrawn or distribu...
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| Format: | Article |
| Language: | English |
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University of Deusto
2022-04-01
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| Series: | Boletín de Estudios Económicos |
| Subjects: | |
| Online Access: | https://bee.revistas.deusto.es/article/view/2240 |
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| author | José Luis Retolaza Ávalos Leire San-Jose R. Edward Freeman |
| author_facet | José Luis Retolaza Ávalos Leire San-Jose R. Edward Freeman |
| author_sort | José Luis Retolaza Ávalos |
| collection | DOAJ |
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Many different companies have decisively embraced the New Business Narrative focused on the Stakeholder Theory and it has been part of the ethos of leading companies worldwide for some time now. However, a systematic process has not been developed to identify an organisation’s withdrawn or distributed value for its different stakeholders in monetary terms. Accounting is inadequate for this purpose and the current information system therefore needs to be expanded. This article reflects on Stakeholder Accounting [SA]. Based on the multi-faceted model, it proposes broadening the value concept to also include price-based transactions, transfers performed in a non-market environment (and without consideration), and emotional ones. Moreover, it proposes expanding from a one-dimensional perspective, focused on shareholders, to a multi-dimensional including all the stakeholders of the organisation. The rest of the article reflects on the multiple experiences generated over the last ten years, along with the applicability, the potential and the implications of this accounting both for organisations and for their stakeholders.
Received: 11 November 2021
Accepted: 18 February 2022
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| format | Article |
| id | doaj-art-43d6b51646a24453b1b9b2e99f9424ae |
| institution | Kabale University |
| issn | 0006-6249 2951-6722 |
| language | English |
| publishDate | 2022-04-01 |
| publisher | University of Deusto |
| record_format | Article |
| series | Boletín de Estudios Económicos |
| spelling | doaj-art-43d6b51646a24453b1b9b2e99f9424ae2025-01-16T18:53:35ZengUniversity of DeustoBoletín de Estudios Económicos0006-62492951-67222022-04-017623210.18543/bee.2240How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information toolJosé Luis Retolaza Ávalos0Leire San-Jose1R. Edward Freeman2University of Deusto, SpainUniversity of the Basque Country (UPV/EHU), SpainUniversity of Virginia, United States Many different companies have decisively embraced the New Business Narrative focused on the Stakeholder Theory and it has been part of the ethos of leading companies worldwide for some time now. However, a systematic process has not been developed to identify an organisation’s withdrawn or distributed value for its different stakeholders in monetary terms. Accounting is inadequate for this purpose and the current information system therefore needs to be expanded. This article reflects on Stakeholder Accounting [SA]. Based on the multi-faceted model, it proposes broadening the value concept to also include price-based transactions, transfers performed in a non-market environment (and without consideration), and emotional ones. Moreover, it proposes expanding from a one-dimensional perspective, focused on shareholders, to a multi-dimensional including all the stakeholders of the organisation. The rest of the article reflects on the multiple experiences generated over the last ten years, along with the applicability, the potential and the implications of this accounting both for organisations and for their stakeholders. Received: 11 November 2021 Accepted: 18 February 2022 https://bee.revistas.deusto.es/article/view/2240stakeholdersnew business narrativestakeholders valuestakeholder accountingpurpose |
| spellingShingle | José Luis Retolaza Ávalos Leire San-Jose R. Edward Freeman How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool Boletín de Estudios Económicos stakeholders new business narrative stakeholders value stakeholder accounting purpose |
| title | How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool |
| title_full | How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool |
| title_fullStr | How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool |
| title_full_unstemmed | How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool |
| title_short | How do organisations generate and distribute value? Stakeholder value as the aim of the New Business Narrative [NBN] and Stakeholder Accounting [SA] as an information tool |
| title_sort | how do organisations generate and distribute value stakeholder value as the aim of the new business narrative nbn and stakeholder accounting sa as an information tool |
| topic | stakeholders new business narrative stakeholders value stakeholder accounting purpose |
| url | https://bee.revistas.deusto.es/article/view/2240 |
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