Entrepreneurial Strategies for Effective Stakeholder Management in Africa

Entrepreneurial Strategies for Effective Stakeholder Management in Africa

Yeboah SK and G K Amoako Kumi E

This article explores key dimensions of stakeholder management in Africa, including local partnerships, social impact initiatives, cultural diversity adaptability, and data analytics’ role in decision-making. It also compares the effectiveness of combined entrepreneurial strategies and seeks to enhance article management practices. The article consists primarily of a nonempirical survey of the literature and the construction of a conceptual model that will be tested in a subsequent article. The article contends that the varied characteristics of entrepreneurial strategies can benefit effective stakeholder management in the African context. The article additionally suggests that community trust and support may serve as moderators in the relationship between entrepreneurial strategies and effective stakeholder management. While the article provides a foundation for understanding the relationship between entrepreneurial strategies and stakeholder management in Africa, further empirical research and contextual exploration are necessary to fully grasp the nuances and practical implications of these concepts in the region. The article proposes that entrepreneurs utilise innovative technologies, data analytics, local partnerships, and cross-cultural training to engage with stakeholders, build cultural relevance, align initiatives with values, and employ multiple entrepreneurial strategies for risk reduction and innovation. This article proposes a framework of entrepreneurial strategies for stakeholder management in Africa. It integrates theories from different disciplines and adapts them to the African context. It also classifies stakeholder engagement modes and gives examples of successful practices. The article provides novel insights for entrepreneurs, researchers, and policymakers in Africa.

Routledge

2024

https://scholar.google.com/scholar?oi=bibs&cluster=1089848609151305963&btnI=1&hl=en

English