Abstract
The results of an exploratory study examining the role of trust in stakeholder satisfaction are reported. Customers, stockholders, and employees of financial institutions were surveyed to identify management behaviors that lead to stakeholder satisfaction. The factors critical to satisfaction across stakeholder groups are the timeliness of communication, the honesty and completeness of the information and the empathy and equity of treatment by management.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Brockner, J. and P. Siegel: 1996, ‘Understanding the Interaction Between Procedural and Distributive Justice: The Role of Trust’, in R. M. Kramer andT. R. Tyler (eds.), Trust in Organizations: Frontiers of Theory and Research (Sage, Thousand Oaks, CA), pp. 390–413.
De Castro, J. O., G. D. Meyer,K. C. Strong andN. Uhlenbruck: 1996, ‘Government Objectives and Organizational Characteristics: A Stakeholder View of Privatization Effectiveness’, International Journal of Organizational Analysis 4(4), 373–392.
Donaldson, T.: 1999, ‘Response: Making Stakeholder Theory Whole’, Academy of Management Review 24(2), 237–241.
Freeman, R. E.: 1999, ‘Response: Divergent Stakeholder Theory’, Academy of Management Review 24(2), 233–236.
Freeman, R. E.: 1984, Strategic Management: A Stakeholder Approach (Pittman, Boston).
Gardial, S., D. S. Clemons,R. B. Woodruff,D. W. Schuman andM. J. Burns: 1994, ‘Comparing Consumers Recall of Prepurchase and Postpurchase Product Evaluation Experiences’, Journal of Consumer Research 24 (March), 548–560.
Gioia, D. A.: 1999, ‘Response: Practicability, Paradigms, and Problems in Stakeholder Theorizing’, Academy of Management Review 24(2), 228–232.
Greenberg, J.: 1990, ‘Organizational Justice: Yesterday, Today, and Tomorrow’, Journal of Management 16, 399–432.
Huse, M. and D. Eide: 1996, ‘Stakeholder Management and the Avoidance of Corporate Control’, Business and Society 35(2), 211–243.
Husted, B. W.: 1998, ‘Organizational Justice and the Management of Stakeholder Relations’, Journal of Business Ethics 17, 643–651.
Jones, T. M., and A. C. Wicks: 1999, ‘Convergent Stakeholder Theory’, Academy of Management Review 24(2), 206–221.
Laban, R. and H. C. Wolf: 1993, ‘Large Scale Privatization in Transition Economies’, American Economic Review 83, 1199–1210.
Leventhal, G. S., J. Karuza andW. R. Fry: 1980, ‘Beyond Fairness: A Theory of Allocation Preferences’, in G. Mikula (ed.), Justice and Social Interaction (Springer-Verlag, New York), pp. 167–218.
McDonald, K. R.: 1993, ‘Why Privatization Is Not Enough’, Harvard Business Review 71(3), 49–59.
Oliver, R. L.: 1993, ‘Cognitive, Affective, and Attribute Bases of the Satisfaction Response’, Journal of Consumer Research 20 (December), 418–430.
Parasuraman, A.,V. A. Zeithaml andL. L. Berry: 1985, ‘A Conceptual Model of Service Quality and Its Implications for Future Research’, Journal of Marketing 49 (Fall), 41–50.
Ring, P. S.: 1996, ‘Fragile and Resilient Trust and Their Roles in Economic Exchange’, Business and Society 35(2), 148–175.
Spreng, R. A., S. B. MacKenzie andR. W. Olshavsky: 1996, ‘A Reexamination of the Determinants of Consumer Satisfaction’, Journal of Marketing 60(3), 15–32.
Taylor, S. A.: 1993, ‘The Roles of Service Quality, Consumer Satisfaction, and Value in Quinn's (1992) Paradigm of Services’, The Journal of Marketing Theory and Practice 2(1) (Fall), 14–26.
Trevino, L. K. andG. R. Weaver: 1999, ‘Response: The Stakeholder Research Tradition” Converging Theorists-Not Convergent Theory’, Academy of Management Review 24(2), 222–227.
Waddock, S. A. andS. B. Graves: 1997, ‘Quality of Management and Quality of Stakeholder Relations: Are They Synonymous?’, Business and Society 36(3), 250–279.
Welbourne, T. M. 1998: “Untangling Procedural and Distributive Justice”, Group & Organization Management 23, 325–346.
Westbrook, R. A.,J. W. Newman andJ. R. Taylor: 1978, ‘Satisfaction/Dissatisfaction in the Purchase Decision Process’, Journal of Marketing 42 (October), 54–60.
Wood, D. J. and R. E. Jones: 1995, ‘Stakeholder Mismatching: A Theoretical Problem in Empirical Research on Corporate Social Performance’, International Journal of Organizational Analysis 3(3), 229–267.
Author information
Authors and Affiliations
Rights and permissions
About this article
Cite this article
Strong, K.C., Ringer, R.C. & Taylor, S.A. THE* Rules of Stakeholder Satisfaction (* Timeliness, Honesty, Empathy). Journal of Business Ethics 32, 219–230 (2001). https://doi.org/10.1023/A:1010714703936
Issue Date:
DOI: https://doi.org/10.1023/A:1010714703936