Abstract:
Stakeholder Theory is ever evolving. The Organization-Stakeholder Fit (O-S fit) Theory was recently advanced, which provides a new framework with which to analyse and manage stakeholder relationships and gives new direction and impetus to the study of the stakeholder theory.
The overall purpose of this research is to explore and extend on the propositions of the O-S fit theory, more particularly how stakeholder relationship managers can manage or mitigate misfit or low fit, with a secondary research question regarding how the relational factors underlying the value congruence and strategic complementarity dimensions of the O-S fit theory may be leveraged to manage or mitigate combative and disengaging behaviour. This research was conducted against the backdrop of the South African mining industry which was found that the stakeholder relationships between mines, local mine communities and government was in a state of misfit or low fit, from the perspective of the South African mining industry. Thus, these relationships provide fertile ground to extend the O-S fit theory and the delve into the research questions.
A qualitative study was conducted for this research, whereby 13 senior executives who manage or can speak to the management of these stakeholder relationships participated in semi-structured interviews. The data was analysed with the assistance of Excel and frequency analysis techniques were utilised to ascertain the most pertinent themes which arose regarding the management or mitigation of misfit or low fit, and the relational factors underlying the proposed steps or actions that were identified which would improve the fit in these stakeholder relationships.
The results confirmed the propositions of the O-S fit theory and extended same, save to state that some relational factors were believed to be more effective or necessary to leverage in order to improve fit than others. Several recommendations for future research are proposed.
