In this section, I would like to examine what these definitions mean in terms of the identification and prioritization of stakeholders. The definition of the stakeholder as an owner or possessor of resources or competencies, which he contributes to a team by means of an informal or formal contract, has a number of consequences for the management of this organizational type.
Of course, individual buyers, suppliers, etc. can be seen as short-term, transaction specific stakeholders of a team, but they are not constitutional, organizational stakeholders. What short-term investors and some NGO's have in common is the short time span of their involvement in a team. But they differ as to the contractual basis of their involvement. Short-term investors rely on explicit, legally enforceable contracts, while NGO's rely on implicit, politically and morally enforceable social contracts. It follows that short-term oriented investors can be defined as organizational stakeholders, while short-term oriented NGO's are “societal stakeholders”. It follows further that the governance of stakeholder relations depends on different mechanisms of enforcement, which are depicted in the next figure: It is within the mechanisms of enforcement of team-contracts that one can find the definitional characteristics of explicit and implicit contracts, be it in a pure or in a mixed form. Duration and the governance form of enforcement are the main indicators of stakeholder identification.
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