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Full-Text Articles in Business
Instrumental Stakeholder Theory Makes Ethically Based Relationship Building Palatable To Managers Focused On The Bottom Line, Jeffrey S. Harrison, Will Felps, Thomas M. Jones
Instrumental Stakeholder Theory Makes Ethically Based Relationship Building Palatable To Managers Focused On The Bottom Line, Jeffrey S. Harrison, Will Felps, Thomas M. Jones
Management Faculty Publications
We appreciate the opportunity to engage in this dialogue with Weitzner and Deutsch (2019) to clarify the meaning and intent of some of the arguments found in our article, “How Applying Instrumental Stakeholder Theory Can Provide Sustainable Competitive Advantage” (Jones, Harrison, & Felps, 2018). We are grateful for the high praise from the authors regarding the rigor and logic of our applications of resource-based criteria to instrumental stakeholder theory (IST). We begin this response by highlighting a few areas of agreement, followed by some points where we disagree.
Stakeholder Theory, Robert A. Phillips, Jay B. Barney, R. Edward Freeman, Jeffrey S. Harrison
Stakeholder Theory, Robert A. Phillips, Jay B. Barney, R. Edward Freeman, Jeffrey S. Harrison
Management Faculty Publications
Though there is clearly a “family resemblance” to the work that is typically done under its bailiwick, stakeholder theory continues to resist precise circumscription. Like the organizations it attempts to understand, the boundaries of the theory remain contentious. While various attempts have been made to clearly define the parameters of stakeholder theory (i.e., Clarkson Center for Business Ethics, 1999; Donaldson & Preston, 1995; Freeman, et al., 2010; Jones & Wicks, 1999; Phillips, 2003; Phillips, Freeman & Wicks, 2003), none of these efforts has gained universal acceptance. The following, which combines ideas from a variety of well-known sources (Freeman, 1984; Freeman, …
Sustainable Wealth Creation: Applying Instrumental Stakeholder Theory To The Improvement Of Social Welfare, Thomas M. Jones, Jeffrey S. Harrison
Sustainable Wealth Creation: Applying Instrumental Stakeholder Theory To The Improvement Of Social Welfare, Thomas M. Jones, Jeffrey S. Harrison
Management Faculty Publications
This chapter briefly reviews core ideas and research results in the existing instrumental stakeholder theory (IST) literature and then applies the IST concept to the simultaneous pursuit of two objectives—advancing social welfare, the presumed goal of morally legitimate social systems in general, and preserving the key elements of shareholder wealth enhancement—the traditional goal of the corporation. In so doing, we expand the range of ethical approaches to IST beyond deontological principles (e.g., treat stakeholders fairly; be trustworthy in dealing with stakeholders) present in extant versions of IST, to a consequentialist focus (i.e., a utilitarian concern for “the greatest good for …
The Performance Implication Of Obsessive Work Passion: Unpacking The Moderating And Mediating Mechanisms From A Conservation Of Resources Perspective, Dejun Tony Kong, Violet T. Ho
The Performance Implication Of Obsessive Work Passion: Unpacking The Moderating And Mediating Mechanisms From A Conservation Of Resources Perspective, Dejun Tony Kong, Violet T. Ho
Management Faculty Publications
Work passion is an important determinant of work performance. While harmonious work passion (HWP) shows its consistent predictive value, obsessive work passion (OWP) appears to have a mixed relationship with work performance. To address this puzzle, we integrate research on OWP and emotional exhaustion with conservation of resources (COR) theory. Specifically, we argue that OWP determines emotional exhaustion, whose relationship with work performance is attenuated by leader-member exchange (LMX). By conducting a field study with a sample of 262 U.S. employees, we found supportive evidence, even when controlling for psychological detachment from work. The findings somewhat reconcile the inconsistent results …
How Applying Instrumental Stakeholder Theory Can Provide Sustainable Competitive Advantage, Thomas M. Jones, Jeffrey S. Harrison, Will Felps
How Applying Instrumental Stakeholder Theory Can Provide Sustainable Competitive Advantage, Thomas M. Jones, Jeffrey S. Harrison, Will Felps
Management Faculty Publications
Instrumental stakeholder theory considers the performance consequences for firms of highly ethical relationships with stakeholders, characterized by high levels of trust, cooperation, and information sharing. While research suggests performance benefits, an obvious question remains: If instrumental stakeholder theory-based stakeholder treatment is so valuable, why isn't it the dominant mode of relating to stakeholders? We argue that the existing instrumental stakeholder theory literature has three shortcomings that limit its ability to explain variance in performance. (1) Little theory exists around how instrumental stakeholder theory-based stakeholder management could provide sustainable competitive advantage. (2) The literature has largely neglected the potential downsides (i.e., …
Moocs And The Online Delivery Of Business Education: What's New? What's Not? What Now?, Jonathan W. Whitaker, J. Randolph New, R. Duane Ireland
Moocs And The Online Delivery Of Business Education: What's New? What's Not? What Now?, Jonathan W. Whitaker, J. Randolph New, R. Duane Ireland
Management Faculty Publications
Although the past 2 decades have produced much promise (and accompanying research) on the use of information technology (IT) in business school courses, it is not entirely clear whether IT has truly "transformed" management education. There are compelling arguments on both sides. On one hand, advocates for the transformative role of IT can point to several success stories. On the other hand, skeptics of the role of IT in management education can also point to support for their view. This lack of consensus has led researchers in Academy of Management Learning & Education to call for scholars to confront the …
The Second Glass Ceiling Impedes Women Entrepreneurs, Douglas A. Bosse, Porcher L. Taylor Iii
The Second Glass Ceiling Impedes Women Entrepreneurs, Douglas A. Bosse, Porcher L. Taylor Iii
Management Faculty Publications
The glass ceiling phenomenon that impedes the advancement of talented women professionals into senior executive roles inside large corporations is widely recognized in society, studied in the management literature, taught in business schools, and tangibly felt by many women executives. Outside the corporate setting, we show that a second glass ceiling exists for women entrepreneurs and women small business owners. This second glass ceiling is a gender bias that obstructs women-owned small firms from accessing the financial capital required to start new firms and fuel the growth of existing firms. This paper (1) defines the second glass ceiling phenomenon, (2) …
Stakeholder Theory: The State Of The Art, Bidhan L. Parmar, R. Edward Freeman, Jeffrey S. Harrison, Et Al.
Stakeholder Theory: The State Of The Art, Bidhan L. Parmar, R. Edward Freeman, Jeffrey S. Harrison, Et Al.
Management Faculty Publications
A variety of forces are changing the way managers and executives make sense of their responsibilities. Globalization has brought a larger variety of participants into contemporary businesses, technological innovation has increased the pace of change, and managers are discovering that their actions have the potential to affect a broader range of people all over the globe (Clement, 2005). Additionally, the pursuit of corporate objectives can be easily disrupted by the actions of unexpected groups. These challenges, driven by change and interconnectedness, reveal a need for managers and academics to re-think the traditional ways of conceptualizing the responsibilities of the firm. …
What Stakeholder Theory Is Not, Robert A. Phillips, R. Edward Freeman, Andrew C. Wicks
What Stakeholder Theory Is Not, Robert A. Phillips, R. Edward Freeman, Andrew C. Wicks
Management Faculty Publications
The term "stakeholder" is a powerful one. this is due, to a significant degree, to its conceptual breadth. The term means many different things to many different people and hence evokes praise or scorn for a wide variety of scholars and practitioners of myriad academic disciplines and backgrounds. Such breadth of interpretation, though one of stakeholder theory's greatest strengths, is also one of its most prominent theoretical liabilities as a topic of reasoned discourse. Much of the power of stakeholder theory is a direct result of the fact that, when used unreflectively, its managerial prescriptions and implications are nearly limitless. …