The influence of culture on stakeholder management

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In today’s globalized world, multinational corporations (MNCs) face intense scrutiny, particularly when their headquarters attempt to enforce global standards in local subsidiaries. This tension often arises because such standards may conflict with the cultural expectations of the host nations. Effectively managing the diffusion of stakeholder principles is crucial for MNCs to balance global mandates with local needs. Mark Veser explores the impact of culture on the adoption of stakeholder management practices within MNCs, particularly concerning their social stakeholders. The book enhances understanding of how cultural factors shape the acceptance and implementation of global stakeholder management at the local level, utilizing literature from stakeholder management, international management, and cultural studies to create a theoretical framework. An extensive case study on ABB’s stakeholder dialogue during the introduction of its social policy illustrates these concepts. The book makes three key contributions: it establishes a theoretical framework for managing stakeholder relationships in diverse environments, develops a methodology for analyzing stakeholder dialogue through the lens of cultural differences, and offers insights into how cultural dimensions influence local subsidiaries, using ABB’s global social policy efforts as a case study. Its appeal extends to both academics and practitioners interested in the sustainab