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In classifying stakeholders for WUF12, stakeholder theory is utilized to ensure the inclusivity of policies, practices, and procedures concerning urban development. According to Freeman's stakeholder theory, stakeholders are individuals or groups who can affect or are affected by the achievement of an organization's objectives. By categorizing stakeholders into distinct groups, we can tailor engagement strategies and management approaches to address their unique interests and concerns.
Government agencies are key stakeholders due to their regulatory and decision-making roles in urban development. Inclusive policies should involve these entities in decision-making processes to ensure alignment with broader government agendas (Mitchell et al., 1997). NGOs play a crucial role in advocating for sustainable urban practices and social equity, necessitating collaborative partnerships with event organizers to amplify their voices (Freeman, 1984).
The private sector brings resources and expertise to urban projects but must adhere to ethical standards and community needs. Inclusive practices involve transparent partnerships that prioritize shared value creation (Clarkson, 1995). Academic institutions contribute knowledge and research insights, promoting evidence-based urban policies and fostering innovation (Phillips et al., 2004).
Civil society groups represent marginalized voices and community perspectives, requiring participatory approaches to ensure their concerns are addressed in urban planning (Harrison & Wicks, 2013). International organizations provide global perspectives and best practices, advocating for sustainable urban development on a broader scale (Wartick & Cochran, 1985).
By recognizing and engaging these diverse stakeholder groups through inclusive policies and practices, WUF12 can foster collaboration, innovation, and sustainable urban development outcomes.
References List:
1. Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach.2. Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts. The Academy of Management Review, 22(4), 853-886. Available at: https://journals.aom.org/doi/10.5465/amr.1997.9711022106)3. Clarkson, M. B. E. (1995). A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance. The Academy of Management Review, 20(1), 92-117. DOI: (https://doi.org/10.5465/amr.1995.9503271992)4. Phillips, R. A., Freeman, R. E., & Wicks, A. C. (2004). What Stakeholder Theory is Not.5. Harrison, J. S., & Wicks, A. C. (2013). Stakeholder Theory, Value, and Firm Performance.6. Wartick, S. L., & Cochran, P. L. (1985). The Evolution of the Corporate Social Performance Model. The Academy of Management Review, 10(4), 758-769. DOI:(https://doi.org/10.5465/amr.1985.4279098)Page updated
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