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| Author: | Harrison, J.S. Bosse, D.A. Phillips, R.A. |
| Title: | Managing for stakeholders, stakeholder utility functions, and competitive advantage |
| Journal: | Strategic Management Journal
2010 : VOL. 31:1, p. 58-74 |
| Index terms: | stakeholders management competitive advantage company performance networks |
| Freeterms: | reciprocity |
| Language: | eng |
| Abstract: | A firm managing for stakeholders (hereafter as: s-hlds.) allocates more resources to satisfy the needs and demands of its legitimate s-hlds. than would be necessary to only retain their participation in the firm's productive activities. This paper explains why this kind of behaviour unlocks additional potential for value creation and the conditions either facilitating or interfering the process of value creation. Firms managing for s-hlds. develop trusting relationships based on principles of distributional, interactional, and procedural justice. Under these conditions, s-hlds. are more likely to share information as to their utility functions etc. Competitive advantages deriving from a s-hlds. management approach are argued to be sustainable due to their association with path dependence and causal ambiguity. |
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