Stakeholder approach to the implementation of the ‘third mission’ of universities

The implementation of the ‘third mission’ by universities is a significant area of research that has been explored by many Russian and international experts. The ‘third mission’ means engaging with society. Alongside education and research, it is an important factor in the successful development of a contemporary university. In this article, we explore how stakeholder theory, which is successfully employed in the management of large organisations, may be applied for the development of mechanisms for effective implementation of the ‘third mission’ by universities. We identify the main problems in organising stakeholder interactions at Russian universities and analyse possible strategies to improve the situation. We use the examples of Polish, Swedish, and Russian universities to illustrate the practical aspects of interactions at different levels between universities and stakeholders., forms, and methods in the field. Further, we propose a classification of key stakeholders of universities, describe their mutual relations, interests, and resources available to them as well as reflect on stakeholder participation models in educational management. Our findings may contribute to better management at Russian educational institutions and benefit national education authorities.