Abstract
The vast majority of empirical research on stakeholder management has traditionally focused on multinational corporations. Only in recent years, scholars have begun to pay attention to the stakeholder management concept in relation to small- and medium-sized enterprises (SMEs). The few existing studies in this area, however, discuss SMEs as a context free category or remain focused on single country analysis. This cross-national empirical research investigates SME owner–managers’ perceptions of stakeholder management in six European countries. The comparative analysis is followed by a discussion of how institutional, cultural and linguistic contexts can influence owner–managers’ sensemaking of stakeholder management. Our study questions the universality of specific management terms and proposes that more attention should be paid to the institutional, cultural and linguistic environments that shape economic activity in different parts of Europe.
Similar content being viewed by others
Notes
RGT exercise starts with asking respondents to draw three random cards which have the individual elements written on them, to group two elements together which they think are more alike than the third one and then describe the difference between the grouped together elements (emergent pole) and the other one (implicit pole).
This construct was supplied only in the Italian and in the Spanish study.
This sample size was chosen as it is deemed sufficiently large for a cognitive study that uses repertory grid technique (Easterby-Smith 1980).
References
Albareda, L., Lozano, J. M., Tencati, A., Midttun, A., & Perrini, F. (2008). The changing role of governments in corporate social responsibility: Drivers and responses. Business Ethics: A European Review, 17(4), 347–363.
Albareda, L., Lozano, J. M., & Ysa, T. (2007). Public policies on corporate social responsibility: The role of governments in Europe. Journal of Business Ethics, 74, 391–407.
Amable, B. (2003). The diversity of modern capitalism. Oxford: Oxford University Press.
Argondoña, A., & von Weltzien Høivik, H. (2009). Corporate social responsibility: One size does not fit all collecting evidence from Europe. Journal of Business Ethics, 89, 221–234.
Ballet, J. (2005). Stakeholders et Capital Social. Revue Française de Gestion, 31, 77–91.
Bucar, B., & Hisrich, R. (2001). Ethics of business managers vs. entrepreneurs. Journal of Developmental Entrepreneurship, 6(1), 59–82.
Cantó-Milà, N., & Lozano, J. (2009). The Spanish discourse on corporate social responsibility. Journal of Business Ethics, 87(Supplement 1), 157–171.
Carroll, A. B. (1991). The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders. Business Horizons, 34(4), 39–48.
Chen, S., & Bouvain, P. (2009). Is corporate responsibility converging? A comparison of corporate responsibility reporting in the USA, UK, Australia, and Germany. Journal of Business Ethics, 87, 299–317.
Clarkson, M. (1995). A stakeholder framework for analyzing and evaluating corporate social performance. Academy of Management Review, 20(1), 92–117.
Clifton, D., & Amran, A. (2011). The stakeholder approach: A sustainability perspective. Journal of Business Ethics, 98(1), 121–136.
Commission of the European Communities. (2001). Promoting a European framework for corporate social responsibilities, COM (2001) 366 final, Brussels.
Curran, J., & Blackburn, R. (2001). Researching the small enterprise. London: Sage.
De Bakker, F., Groenewegen, P., & Den Hond, F. (2005). A bibliometric analysis of 30 Years of research on corporate social responsibility and corporate social performance. Business and Society, 44(3), 283–317.
Dentchev, N. A. (2009). To what extent is business and society literature idealistic? Business & Society, 48(1), 10–38.
Easterby-Smith, M. (1980). The design, analysis and interpretation of repertory grids. Journal of Man-Machine Studies, 13, 3–24.
Elkington, J. (1999). Cannibals with forks. Gabriola Island: New Society.
Ernst & Young. (2008). Etude sur le Déploiement des Démarches de RSE, Paris.
Fassin, Y. (2009). The stakeholder model refined. Journal of Business Ethics, 84, 113–135.
Fassin, Y., Van Rossem, A., & Buelens, M. (2011). Small business owner’s perceptions of business ethics and CSR related concepts. Journal of Business Ethics, 98, 425–453.
Fassin Y., Van Rossem A., Signori S., Hoivik H., Schlierer H. J., Werner A., Garriga E. (2010). Small-business owner-managers’ perceptions of CSR and business-related ethical concepts: A European cross-cultural comparative analysis. Proceedings of Academy of Management Annual Meeting Proceedings, Montreal, Canada, August 6–10, 2010.
Fisher, J. (2004). Social responsibility and ethics: Clarifying the concepts. Journal of Business Ethics, 52, 391–400.
Forbes, D. (1999). Cognitive approaches to new ventures creation. International Journal of Management Reviews, 1(4), 415–439.
Freeman, R. E. (1984). Strategic management: A stakeholder approach. Boston: Pitman.
Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, B. L., & De Colle, S. (2010). Stakeholder theory. The state of the art. New York: Cambridge University Press.
Freeman, I., & Hasnaoui, A. (2011). The meaning of corporate social responsibility: The vision of four nations. Journal of Business Ethics, 100(3), 419–443.
Gallo, M. (2004). The family business and its social responsibilities. Family Business Review, 17(2), 135–147.
Garriga, E., & Melé, D. (2004). Corporate social responsibility theories: Mapping the territory. Journal of Business Ethics, 53(1/2), 51–71.
Hair, J., Anderson, R., Tatham, R., & Black, W. (1998). Multivariate data analysis (5th ed.). Upper Saddle River, NJ: Prentice Hall International Inc.
Hammann, E., Habisch, A., & Pechlaner, H. (2009). Values that create value: Socially responsible business practices in SMEs—Empirical evidence from german companies. Business Ethics: A European Review, 18(1), 37–51.
Hendry, J. (2001). Missing the target: Normative stakeholder theory and the corporate governance. Business Ethics Quarterly, 11(1), 159–176.
Jackson, G., & Deeg, R. (2006). Comparing capitalisms: Understanding institutional diversity and its implications for international business. Journal of International Business Studies, 39(4), 540–561.
Jamali, D., Zanhour, M., & Keshishian, T. (2009). Peculiar strengths and relational attributes of SMEs in the context of CSR. Journal of Business Ethics, 87(3), 355–377.
Jenkins, H. (2004). A critique of conventional CSR theory: An SME perspective. Journal of General Management, 29(4), 37–57.
Jenkins, H. (2006). Small business champions for corporate social responsibility. Journal of Business Ethics, 67(3), 241–256.
Kaish, S., & Gilad, B. (1991). Characteristics of Opportunities search of entrepreneurs versus executives: Sources interests, general alertness. Journal of Business Venturing, 6, 45–61.
Kelly, G. (1955). A theory of personality (Vol. 1). New York: Norton.
Klein, S., & Kellermanns, F. (2008). Understanding the noneconomic-motivated behaviour in family firms: An introduction. Family Business Review, 21(2), 121–125.
Maclean, M., Harvey, C., & Press, J. (2006). Business elites and corporate governance in France and the UK. Basingstoke: Palgrave Macmillan.
Maon, F., Lindgren, A., & Swaen, V. (2009). Designing and implementing corporate social responsibility: An integrative framework grounded in theory and practice. Journal of Business Ethics, 87, 71–89.
McVea, J. F., & Freeman, R. E. (2005). A names-and-faces approach to stakeholder management. How focusing on stakeholders as individuals can bring ethics and entrepreneurial strategy together. Journal of Management Inquiry, 14(1), 57–69.
Midttun, A., Gautesen, K., & Gjølberg, M. (2006). The political economy of CSR in western Europe: Corporate governance. The International Journal of Effective Board Performance, 6(4), 369–385.
Ministero del Lavoro e delle Politiche Sociali. (2003). Progetto CSR-SC. Il contributo italiano alla campagna di diffusion della CSR in Europa.
Mitchell, R., Busenitz, L. W., Bird, B., Caglio, C. M., McMullen, J. S., Morse, E. A., et al. (2007). The central question in entrepreneurial cognition research 2007. Entrepreneurship, Theory and Practice, 31(1), 1–25.
Munilla, L. S., & Miles, M. P. (2005). The corporate social responsibility continuum as a component of stakeholder theory. Business and Society Review, 110(4), 371–387.
Murillo, D., & Lozano, J. (2006). SMEs and CSR: An approach to CSR in their own words. Journal of Business Ethics, 67(3), 227–240.
Newell, S., Swan, J. A., & Galliers, R. D. (2000). A knowledge-focused perspective on the diffusion and adoption of complex information technologies: The BPR example. Information Systems Journal, 10(3), 239–250.
Nicholson, N. (2008). Evolutionary psychology and family business: A new synthesis for theory, research, and practice. Family Business Review, 21(1), 103–118.
Norwegian Ministry of Foreign Affairs. (2009). Corporate social responsibility in a global economy, Report No. 10 to the Storting.
Pedersen, E. R. (2006). Making corporate social responsibility (CSR) operable: How companies translate stakeholder dialogue into practice. Business and Society Review, 111(2), 137–163.
Perrini, F. (2006). SMEs and CSR theory: Evidence and implications from an Italian perspective. Journal of Business Ethics, 67(2), 305–316.
Perrini, F., Pogutz, S., & Tencati, A. (2006). Corporate social responsibility in Italy: State of the art. Journal of Business Strategies, 23(1), 65–91.
Phillips, R., Freeman, R. E., & Wicks, A. C. (2003). What stakeholder theory is not. Business Ethics Quarterly, 13(4), 479–502.
Post, J. E., Preston, L. E., & Sachs, S. (2002). Managing the extended enterprise: The new stakeholder view. California Management Review, 45(1), 6–28.
Reger, R. K. (1990). The repertory grid technique for eliciting the content and structure of cognitive constructive systems. In S. Huff (Ed.), Mapping strategic thought (pp. 301–309). Chichester: Wiley.
Russo, A., & Perrini, F. (2010). Investigating stakeholder theory and social capital: CSR in large firms and SMEs. Journal of Business Ethics, 91, 207–221.
Russo, A., & Tencati, A. (2009). Formal vs informal CSR strategies: Evidence from Italian micro, small, medium-sized, and large firms. Journal of Business Ethics, 85, 339–353.
Schwartz, M., & Carroll, A. (2008). Integrating and unifying competing frameworks. The search for a common core in the business and society field. Business and Society, 47(2), 148–186.
Signori, S., & Rusconi, G. (2009). Ethical thinking in traditional Italian Economia Aziendale and the stakeholder management theory: The search for possible interactions. Journal of Business Ethics, 89, 303–318.
Spence, L. (1999). Does size matter? The state of the art in small business ethics. Business Ethics—A European Review, 8(3), 163–174.
Spence, L., Schmidpeter, R., & Habisch, A. (2003). Assessing social capital: Small and medium sized enterprises in Germany and the UK. Journal of Business Ethics, 47(1), 17–29.
Stoney, C., & Winstanley, D. (2001). Stakeholding: Confusion or utopia? Mapping the conceptual terrain. Journal of Management Studies, 38, 603–626.
Sturdy, A. (2004). The adoption of management ideas and practices: Theoretical perspectives and possibilities. Management Learning, 35(2), 155–179.
Tilley, F. (2000). Small firm environmental ethics: How deep do they go? Business Ethics: A European Approach, 9(1), 31–41.
Valor, C. (2005). Corporate social responsibility and corporate citizenship: Towards corporate accountability. Business and Society Review, 110(2), 191–212.
Van den Berghe, L., & Baeten, X. (2002). Stakeholder management: Een Bedrijfsgerichte Verkenning, Vlaamse Administratie Werkgelegenheid.
Vyakarnam, S., Bailey, A., Meyers, A., & Burnett, D. (1997). Towards an understanding of ethical behaviour in small firms. Journal of Business Ethics, 16(15), 1625–1636.
Walsh, J. (1994). Managerial and organizational cognition: Notes from a trip down memory lane. Organization Science, 6, 280–321.
Wheeler, D., Colbert, B., & Freeman, R. E. (2003). Focusing on value: Reconciling corporate social responsibility, sustainability and a stakeholder approach in a network world. Journal of General Management, 28(3), 1–28.
Acknowledgments
The authors are grateful to the European Business Ethics Network (EBEN), as this research has benefitted from a special grant from EBEN’s cross-national project fund. The authors would also like to thank the reviewers for their helpful feedback and comments.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Schlierer, HJ., Werner, A., Signori, S. et al. How Do European SME Owner–Managers Make Sense of ‘Stakeholder Management’?: Insights from a Cross-National Study. J Bus Ethics 109, 39–51 (2012). https://doi.org/10.1007/s10551-012-1378-3
Published:
Issue Date:
DOI: https://doi.org/10.1007/s10551-012-1378-3