Despite being a significant topic in the literature, research into stakeholder interests is at an early stage. Although a company has an orientation to each stakeholder group these orientations exist simultaneously, giving a multiple stakeholder orientation profile (MSOP). We theorize that firms with different MSOPs will approach their strategic planning in different ways. We tested our predictions in UK companies, and found that indeed there are many strategic planning differences among different MSOPs. The most striking differences are in learning and innovative management, but there are also differences in objectives, competitive positioning and sustainable competitive advantage. Implications for theory and practice are presented.
- multiple stakeholder orientation
- strategic planning differences
- innovative management