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Full-Text Articles in Business
Corporate Social Performance And Economic Cycles, Jeffrey S. Harrison, Shawn L. Berman
Corporate Social Performance And Economic Cycles, Jeffrey S. Harrison, Shawn L. Berman
Management Faculty Publications
Do firms respond to changes in economic growth by altering their corporate social responsibility programs? If they do respond, are their responses simply neglect of areas associated with corporate social performance (CSP) or do they also cut back on positive programs such as profit sharing, public/private housing programs, or charitable contributions? In this paper we argue that because CSP-related actions and programs tend to be discretionary, they are likely to receive less attention during tough economic times, a result of cost-cutting efforts. However, the various CSP performance areas vary in terms of their resource requirements and their influence on financial …
Managing For Stakeholders, Stakeholder Utility Functions, And Competitive Advantage, Jeffrey S. Harrison, Douglas A. Bosse, Robert A. Phillips
Managing For Stakeholders, Stakeholder Utility Functions, And Competitive Advantage, Jeffrey S. Harrison, Douglas A. Bosse, Robert A. Phillips
Management Faculty Publications
This paper integrates some of the central concepts of stakeholder theory with the literatures on organizational justice and trust to explain firm competitiveness. It provides a detailed explanation of factors that facilitate acquisition of knowledge about stakeholder utility functions. In addition, it offers a knowledge-based analysis of how firms that manage for stakeholders can enjoy sustainable competitive benefits. These explanations provide a strong rationale for including stakeholder theory in the discussion of firm competitiveness and performance.
Stakeholder Orientation, Managerial Discretion And Nexus Rents, Robert A. Phillips, Shawn L. Berman, Heather Elms, Mechael E. Johnson-Cramer
Stakeholder Orientation, Managerial Discretion And Nexus Rents, Robert A. Phillips, Shawn L. Berman, Heather Elms, Mechael E. Johnson-Cramer
Management Faculty Publications
A firm's orientation toward its stakeholders determines how it will use the discretion accorded to it by external and internal circumstances. The interaction between these two factors affects a firm's ability to create value in the short term and influences the level of discretion available to the firm in the long term. We argue that the interplay of discretion and orientation create a vicious (or virtuous) cycle, in which the firm either creates or destroys goodwill with stakeholders, thereby making it more or less likely that stakeholders will grant discretion in the future. This argument suggests an account of stakeholder …
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. …
Summary -- Entrepreneurial Uncertainty: What Do Stakeholders Look For?, Douglas A. Bosse, Jeffrey S. Harrison
Summary -- Entrepreneurial Uncertainty: What Do Stakeholders Look For?, Douglas A. Bosse, Jeffrey S. Harrison
Management Faculty Publications
This paper proposes that in the early stages of a venture entrepreneurs can reduce uncertainty for stakeholders -- and raise the probability of attracting desirable stakeholders -- by exhibiting behaviors associated with fairness and justice. Actors base their reciprocal behaviors -- both positive and negative -- on their subjective perceptions of distributive, procedural and interactional justice. Thus, entrepreneurs can influence perceptions of fairness in early interactions with stakeholders. This paper extends the logic of reciprocity and fairness to the setting in which entrepreneurial firms are seeking to attract desirable stakeholders in order to commercialize innovations.
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. …
Stakeholders, Michael Johnson-Cramer, Robert A. Phillips
Stakeholders, Michael Johnson-Cramer, Robert A. Phillips
Management Faculty Publications
The stakeholder concept derives from a simple premise: organizations and technologies exist in constellations of relationships. Organizations operate in a network of market and nonmarket relationships with other organizations, groups, and individuals. Likewise technologies emerge and exist in a network of suppliers, end users, and others who bear the impact of the technology. Generally with reference to both organizations and technologies, these related parties are termed stakeholders, meaning that they hold a stake in the outcomes of the organization or technology.
Some Key Questions About Stakeholder Theory, Robert A. Phillips
Some Key Questions About Stakeholder Theory, Robert A. Phillips
Management Faculty Publications
As businesses emerge as some of the most powerful institutions in the world, business ethics have never been more important, and given very recent history, more open to question. Corporations are relative newcomers to power, and for evidence of this we can look to Europe, where the oldest, largest, most elaborate buildings are the churches and cathedrals. For thousands of years, the church and its leaders were arguably the most powerful institution, but as the liberal notions of the Enlightenment supplanted church orthodoxy, the state supplanted religion as the more powerful institution. But at the dawn of the third millennium, …
Is Organizational Democracy Worth The Effort?, Jeffrey S. Harrison, R. Edward Freeman
Is Organizational Democracy Worth The Effort?, Jeffrey S. Harrison, R. Edward Freeman
Management Faculty Publications
Organizational democracy is frequently associated with increased employee involvement and satisfaction, higher levels of innovation, increased stakeholder commitment, and, ultimately, enhanced organizational performance. However, democratic processes can also absorb significant time and other organizational resources and bog down decisions, which may lead to reduced efficiency. This article summarizes the pros and cons of organizational democracy. It also introduces and integrates ideas from the three other articles in this special forum. In the end, we conclude that although the economic arguments for organizational democracy may be mixed, increased stakeholder participation in value creation and organizational governance can benefit both society and …
Stakeholders, Social Responsibility, And Performance: Empirical Evidence And Theoretical Perspectives, Jeffrey S. Harrison, R. Edward Freeman
Stakeholders, Social Responsibility, And Performance: Empirical Evidence And Theoretical Perspectives, Jeffrey S. Harrison, R. Edward Freeman
Management Faculty Publications
The management of competing stakeholder interests has emerged as a significant topic in the management literature. Related issues are the relationship between stakeholder management and the perception that a firm is socially responsible, and the performance implications of both stakeholder management and social responsibility. Theory and models surrounding these issues are abundant, but empirical research is in an early stage. This research forum reports six excellent efforts to tackle fundamental ideas about stakeholders, social responsibility, and performance.
Managing And Partnering With External Stakeholders, Jeffrey S. Harrison, Caron H. St. John
Managing And Partnering With External Stakeholders, Jeffrey S. Harrison, Caron H. St. John
Management Faculty Publications
The weakening of the traditional management hierarchy, the hollowing out of corporations, and an increasing management emphasis on boundarylessness have created a new mind set concerning external stakeholders. Increasingly, organizations are moving beyond traditional stakeholder management techniques to partnering tactics that lead to the achievement of common goals. In spite of these trends, there has been very little effort in the management literature to tie stakeholder management and partnering tactics. This article demonstrates how successful partnerships with stakeholders create such valued benefits as increased product success rates, increased manufacturing efficiency, the development of distinctive competencies arising from partnerships with local …