3 out of 4 stars
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Stakeholder Management And Social Responsibility: Concepts, Approaches And Tools In The Covid Context by Ovidiu Nicolescu and Ciprian Nicolescu is a pragmatic, scientific, and intellectually driven blueprint for the restructuring of corporate enterprises and the corporate sector as a whole. It is a theoretical analysis of the corporate industry through the lens of its most modern challenges and trends. It comprises recommendations for the navigation of an often troubling and confusing corporate environment. It considers the shift in priorities that the corporate sector has undergone and proscribes a revised and realigned management system for corporations of all sizes. This new system entails a change in focus from many of the traditional and standard hierarchies and paradigms that the industry has adhered to for most of its history. Several terminologies are modified or broadened to reflect this paradigm shift, and the authors give clear reasons and motivations behind these modifications. New responsibilities are conferred upon corporate managers, as the ethical standards of societies and their governing bodies are more demanding than ever before, requiring companies to actively consider how their policies and practices affect their community and environment.
This book is a treatise on how the socioeconomic transformations of our era have changed the requirements of businesses and enterprises and how such enterprises may leverage these requirements to enhance their productivity and marketability. It proposes a radical but coordinated re-imagination of the conventional approach to company management. Where internal shareholders have been the primary and sometimes the sole concern of managerial techniques and methods, this new approach broadens its focus to include the supply chains, among other things. Where companies in the past have left the regulation of their environmental impact to governing bodies, this approach encourages corporations to take responsibility for their effect on their environment. The entire approach encourages enterprises to take the initiative in determining the nature of their relationship with every facet of society, allowing them to shape their economic impact and public perception holistically.
What I'm most impressed with in this book is the holistic philosophy behind its approach. Several books attempt to improve the performance of organizations and business enterprises. Many of them focus on singular limitations and challenges that the organization faces and then proffer isolated solutions to these challenges, one at a time. They neglect the consideration that the enterprise organization is as much a singular entity as it is a series of connected units. This consideration is well accounted for in the ideologies and techniques put forward in this book. The reader is encouraged to implement digitization techniques with knowledge-based economy theories. The stakeholder management principle includes customers and partners in classifying stakeholders, encouraging the reader to structure its stakeholder hierarchy according to their overall impact on the organization rather than simply prioritizing them according to their financial input. This is a rather novel approach to business optimization.
My main issue with the book is its excessive complexity. This book was written for businesses and companies of all sizes, and I believe its writing style should reflect this. The arrangement of its chapters, wording, and its writing style all seem geared toward a reader who is well versed in subjects related to project and enterprise management. Terms like “stakeholder theory” and “corporate social responsibility” seem too technical to apply to a small-scale restaurant owner, despite how beneficial the principles would be to the business. Said small-scale restaurant owner arguably has more to gain from the book's insights than large-scale company owners do because the small-scale business has the opportunity to plan their company’s expansion and growth according to the book's recommendations and thus avoid the rigor of restructuring the business altogether. The book's complexity, however, could potentially discourage a reader/user from truly engaging with and applying these principles positively, causing the book to lose its effectiveness. The book was not professionally edited.
This book has 397 pages. It contains a significant amount of pictorially represented data, mostly in the form of charts and tables. I consider its format to be very academic; readers should be prepared to take notes. There are several terminologies, such as the “managerial synapse” and “stakeholder management”, which are completely unconventional and entirely new to the related fields of study. This book is also very instructive in its delivery; its objective is clearly to educate the reader on the benefits of its new system, rather than attempting to convince the reader of the failings of the conventional system. I rate this book 3 out of 4 stars. My rating is due to the negative aspects I found and the presence of numerous errors. Otherwise, it is very effective at getting its point across, and its argument is well-structured. I recommend this book to anyone interested in business management and optimization.
Stakeholder management and social responsability:concepts,approaches and tools in the covid context
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