The notion of stakeholder salience based on attributes (e.g., power, legitimacy, urgency) is applied in the family business setting. We argue that where principal institutions intersect (i.e., family and business); managerial perceptions of stakeholder salience will be different and more complex than where institutions are based on a single dominant logic. We propose that (1) whereas utilitarian power is more likely in the general business case, normative power is more typical in family business stakeholder salience; (2) whereas in a general (...) business context legitimacy is socially constructed; for family stakeholders, legitimacy is based on heredity; and (3) whereas temporality and criticality are somewhat independent in general-business urgency, they are linked in the family business case because of family ties and family-centered non-economic goals. We apply this theoretical framework to position and integrate the contributions to this special section of Business Ethics Quarterly on “Stakeholder Theory, Ethics, Corporate Social Responsibility, and Family Enterprise.”. (shrink)

The notion of stakeholder salience based on attributes is applied in the family business setting. We argue that where principal institutions intersect ; managerial perceptions of stakeholder salience will be different and more complex than where institutions are based on a single dominant logic. We propose that whereas utilitarian power is more likely in the general business case, normative power is more typical in family business stakeholder salience; whereas in a general business context legitimacy is socially constructed; for family stakeholders, (...) legitimacy is based on heredity; and whereas temporality and criticality are somewhat independent in general-business urgency, they are linked in the family business case because of family ties and family-centered non-economic goals. We apply this theoretical framework to position and integrate the contributions to this special section of Business Ethics Quarterly on “Stakeholder Theory, Ethics, Corporate Social Responsibility, and Family Enterprise.”. (shrink)

Guanxi (literally interpersonal connections) is in essence a network of resource coalition-based stakeholders sharing resources for survival, and it plays a key role in achieving business success in China. However, the salience of guanxi stakeholders varies: not all guanxi relationships are necessary, and among the necessary guanxi participants, not all are equally important. A hierarchical stakeholder model of guanxi is developed drawing upon Mitchell et al.’s (1997) stakeholder salience theory and Anderson’s (1982) constituency theory. As an application of instrumental stakeholder (...) theory, the model dimensionalizes the notion of stakeholder salience, and distinguishes between and among internal and external guanxi, core, major, and peripheral guanxi, and primary and secondary guanxi stakeholders. Guanxi management principles are developed based on a hierarchy of guanxi priorities and management specializations. The goal of this application of instrumental stakeholder theory is to construct, for Western business firms in China, a means to reliably identify guanxi partners by employing the principles of effective guanxi. These principles are described in the form of testable propositions that advance social scientific research in this area of international business ethics. (shrink)

In his Ruffin Lecture on stakeholder value and the entrepreneurial process, Professor S. Venkataraman asserted that two processes: value creation, and value sharing, are common ground for both the field of business ethics and the field of entrepreneurship (Venkataraman, 1999). In this article I further explore the connections between entrepreneurship and stakeholder theory raised in the Lecture, as they relate to both the production and the distribution of wealth in society. Through the application of transaction cognition theory, which suggests that (...) a type of stakeholder-centered expert transacting script can integrate entrepreneurship and stakeholder theory through concepts from its sub-specialty, expert information processing theory, I employ a cognitive theory lens to suggest a set of integrating ideas and implications that attempt to complement and expand on Professor Venkataraman’s thesis. Implications for research and education conclude the article. (shrink)

In his Ruffin Lecture on stakeholder value and the entrepreneurial process, Professor S. Venkataraman asserted that two processes: value creation, and value sharing, are common ground for both the field of business ethics and the field of entrepreneurship . In this article I further explore the connections between entrepreneurship and stakeholder theory raised in the Lecture, as they relate to both the production and the distribution of wealth in society. Through the application of transaction cognition theory, which suggests that a (...) type of stakeholder-centered expert transacting script can integrate entrepreneurship and stakeholder theory through concepts from its sub-specialty, expert information processing theory, I employ a cognitive theory lens to suggest a set of integrating ideas and implications that attempt to complement and expand on Professor Venkataraman’s thesis. Implications for research and education conclude the article. (shrink)

This article investigates whether there is an underlying morality in the ways that human beings seek to obtain economic security within our imperfect economy, which can be illuminated through evolutionary biology research. Two research questions are the focus of the analysis: (1) What is the transaction cognitive machinery that is specialized for the entrepreneurial task of exchange-based security-seeking? and, (2) What are the moral implications of the acquisition and use of such transaction cognitions?Evolutionary biology research suggests within concepts that are (...) more Darwin- v. Huxley-based, an underlying morality supportive of algorithm-governed economizing arising from the behaviors that are most worthy of long-term reproduction. Evolutionarily stable algorithm-enhanced security-seeking is argued to be a new view of entrepreneurship, but one that, somewhat ironically, is grounded in a primordially-based entrepreneurial morality that is at the core of economic security. (shrink)

In this paper, we attempt to refine the concept of corporate citizenship. Traditionally, research on corporate citizenship has paid greater attention to corporateduties, leaving corporate rights relatively unattended in the corporate citizenship literature. However, some scholars have recently explored corporate citizenship as the corporation’s implementation of both of its respected rights and duties. Others have conceptualized the corporate citizenship concept with a specific focus on the corporation’s expansion of its new duties and rights. Integrating existing conceptualizations of corporate citizenship, we (...) propose a refined definition of corporate citizenship as a dynamic process by which corporations implement and expand their respective corporate rights and duties. (shrink)

We review an argument that proposes two moralities—“everyday” moral norms and “adversarial” moral norms—are required for business contexts. We take issue with an implication of this idea, namely that competitive actions do not need to be in accord with “everyday” moral norms. After showing that the argument for two moralities in business does not succeed, we propose a distinction between two types of competitive actions: principled, those actions which comport with every day morality, and merely self-interested, those actions that do (...) not comport with every day morality. The merits of this distinction are discussed. (shrink)

As important stakeholder research streams have built their own silos over time, it has become increasingly difficult to visualize a full picture of stakeholder management. To begin to address this gap, we synthesize five distinct stakeholder research streams, which include stakeholder identification, stakeholder understanding, stakeholder awareness, stakeholder prioritization, and stakeholder action. We juxtapose each of these five stakeholder research streams with Scott’s framework consisting of participants, socials structure, environment, technology, and goals of an organization, respectively. What emerges from this analysis (...) of the literature is the notion of “stakeholder work” defined as the purposive processes of an organization aimed at identifying, understanding, being aware of, prioritizing, and acting with respect to stakeholders. (shrink)

We review an argument that proposes two moralities—“everyday” moral norms and “adversarial” moral norms—are required for business contexts. We take issue with an implication of this idea, namely that competitive actions do not need to be in accord with “everyday” moral norms. After showing that the argument for two moralities in business does not succeed, we propose a distinction between two types of competitive actions: principled, those actions which comport with every day morality, and merely self-interested, those actions that do (...) not comport with every day morality. The merits of this distinction are discussed. (shrink)