Towards a theoretical framework for the governing of stakeholder relationships : a perspective from South Africa

Abstract

Including stakeholder approaches into mainstream strategy has been a topic of recent research in the disciplines of strategic management and strategic communication management. The King III Report on Corporate Governance for South Africa (September 2009) illustrates the pragmatic approach to this integration with its chapter on ‘Governing Stakeholder Relationships’. This inclusive approach to governance creates awareness among business, government and civil society, of the role that stakeholder relationship management, and therefore strategic communication management, can play in the development, implementation and monitoring of corporate strategies in a sustainable manner. A theoretical framework for an integrated approach—as developed in this article—will guide responsible strategic communication management with specific reference to the governing of stakeholder relationships. It will demonstrate that communication management principles, such as stakeholder relationship management, can assist an organisation in achieving its objectives—even to a point of becoming objectives in themselves.