IDEAS home Printed from https://ideas.repec.org/a/sgm/pzwzuw/v14i64y2016p62-79.html
   My bibliography  Save this article

Strategic Challenges in Stakeholder Networks (Strategiczne wyzwania w sieciach interesariuszy)

Author

Listed:
  • Michal Zdziarski

    (University of Warsaw, Faculty of Management)

  • Robert G. Boutilier

    (Simon Fraser University, Burnaby, Canada, Centre for Sustainable Community Development)

Abstract

Shareholders of a company must increasingly share power with other social actors that control access to critical resources. These social actors are stakeholders because they have stakes in firms’ operations, either through being affected by them or through being able to affect them. Stakeholders are embedded in networks of relationships in which resources are shared, combined, exploited or restricted, and informal governance modes emerge. Strategic maneuvering in stakeholder networks is critical for assuring a firm’s access to valuable resources and resulting performance. Managers deciding on the strategic course of a firm embedded in a stakeholder network face multi-dimensional problems with multiple causes. It is argued that a three-way integration of the resource dependence theory, social network analysis, and stakeholder theory yields important insights for managers on options of strategic maneuvering in stakeholder networks. We highlight previous attempts to integrate pairs of these theories. Building on Boutilier’s typology of stakeholder network structures, we describe emerging governance patterns, and propose a set of possible moves aiming to address strategic challenges in gaining access to resources controlled by stakeholders.

Suggested Citation

  • Michal Zdziarski & Robert G. Boutilier, 2016. "Strategic Challenges in Stakeholder Networks (Strategiczne wyzwania w sieciach interesariuszy)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 14(64), pages 62-79.
  • Handle: RePEc:sgm:pzwzuw:v:14:i:64:y:2016:p:62-79
    as

    Download full text from publisher

    File URL: https://press.wz.uw.edu.pl/ems/vol14/iss64/4
    Download Restriction: no

    File URL: http://pz.wz.uw.edu.pl/en
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Freeman, R. Edward, 1994. "The Politics of Stakeholder Theory: Some Future Directions1," Business Ethics Quarterly, Cambridge University Press, vol. 4(4), pages 409-421, October.
    2. Jay B. Barney, 1996. "The Resource-Based Theory of the Firm," Organization Science, INFORMS, vol. 7(5), pages 469-469, October.
    3. Edward Freeman, R. & Evan, William M., 1990. "Corporate governance: A stakeholder interpretation," Journal of Behavioral Economics, Elsevier, vol. 19(4), pages 337-359.
    4. Julia Roloff, 2008. "Learning from Multi-Stakeholder Networks: Issue-Focussed Stakeholder Management," Journal of Business Ethics, Springer, vol. 82(1), pages 233-250, September.
    5. Kolstad, Ivar & Wiig, Arne, 2009. "It's the rents, stupid! The political economy of the resource curse," Energy Policy, Elsevier, vol. 37(12), pages 5317-5325, December.
    6. Jaepil Choi & Heli Wang, 2009. "Stakeholder relations and the persistence of corporate financial performance," Strategic Management Journal, Wiley Blackwell, vol. 30(8), pages 895-907, August.
    7. Jeffrey H. Dyer & Harbir Singh & Prashant Kale, 2008. "Splitting the pie: rent distribution in alliances and networks," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(2-3), pages 137-148.
    8. Phillips, Robert A., 2010. "Ethics and Network Organizations," Business Ethics Quarterly, Cambridge University Press, vol. 20(3), pages 533-543, July.
    9. Amy J. Hillman & Gerald D. Keim, 2001. "Shareholder value, stakeholder management, and social issues: what's the bottom line?," Strategic Management Journal, Wiley Blackwell, vol. 22(2), pages 125-139, February.
    10. Ranjay Gulati & Monica C. Higgins, 2003. "Which ties matter when? the contingent effects of interorganizational partnerships on IPO success," Strategic Management Journal, Wiley Blackwell, vol. 24(2), pages 127-144, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rouwette, Etiënne & van Kranenburg, Hans & Freeman, Edward, 2017. "Reviewing the role of stakeholders in Operational Research: A stakeholder theory perspectiveAuthor-Name: de Gooyert, Vincent," European Journal of Operational Research, Elsevier, vol. 262(2), pages 402-410.
    2. Marival Segarra‐Oña & Angel Peiró‐Signes & José Albors‐Garrigós & Blanca De Miguel‐Molina, 2017. "Testing the Social Innovation Construct: An Empirical Approach to Align Socially Oriented Objectives, Stakeholder Engagement, and Environmental Sustainability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(1), pages 15-27, January.
    3. Carlos Ferro-Soto & Luz Amparo Macías-Quintana & Paula Vázquez-Rodríguez, 2018. "Effect of Stakeholders-Oriented Behavior on the Performance of Sustainable Business," Sustainability, MDPI, vol. 10(12), pages 1-27, December.
    4. Silvana Signori & Leire San-Jose & Jose Luis Retolaza & Gianfranco Rusconi, 2021. "Stakeholder Value Creation: Comparing ESG and Value Added in European Companies," Sustainability, MDPI, vol. 13(3), pages 1-16, January.
    5. Alejandra Marin & Ronald Mitchell & Jae Lee, 2015. "The Vulnerability and Strength Duality in Ethnic Business: A Model of Stakeholder Salience and Social Capital," Journal of Business Ethics, Springer, vol. 130(2), pages 271-289, August.
    6. James, Sharon D., 2016. "Strategic bankruptcy: A stakeholder management perspective," Journal of Business Research, Elsevier, vol. 69(2), pages 492-499.
    7. Franck Brulhart & Sandrine Gherra & Bertrand V. Quelin, 2019. "Do Stakeholder Orientation and Environmental Proactivity Impact Firm Profitability?," Journal of Business Ethics, Springer, vol. 158(1), pages 25-46, August.
    8. Feng, Jingwen & Goodell, John W. & Shen, Dehua, 2022. "ESG rating and stock price crash risk: Evidence from China," Finance Research Letters, Elsevier, vol. 46(PB).
    9. M. Tina Dacin & Jeffrey S. Harrison & David Hess & Sheila Killian & Julia Roloff, 2022. "Business Versus Ethics? Thoughts on the Future of Business Ethics," Journal of Business Ethics, Springer, vol. 180(3), pages 863-877, October.
    10. Tai-Hsi Wu & Hsiang-Lin Chih & Mei-Chen Lin & Yi Hua Wu, 2020. "A Data Envelopment Analysis-Based Methodology Adopting Assurance Region Approach for Measuring Corporate Social Performance," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 148(3), pages 863-892, April.
    11. Andrew West, 2016. "Applying Metaethical and Normative Claims of Moral Relativism to (Shareholder and Stakeholder) Models of Corporate Governance," Journal of Business Ethics, Springer, vol. 135(2), pages 199-215, May.
    12. Roper, Stuart & Parker, Cathy, 2013. "Doing well by doing good: A quantitative investigation of the litter effect," Journal of Business Research, Elsevier, vol. 66(11), pages 2262-2268.
    13. Hajer Tebini & Bouchra M’Zali & Pascal Lang & Paz Méndez-Rodrı́guez, 2015. "Social Performance and Financial Performance: A Controversial Relationship," International Series in Operations Research & Management Science, in: Enrique Ballestero & Blanca Pérez-Gladish & Ana Garcia-Bernabeu (ed.), Socially Responsible Investment, edition 127, chapter 0, pages 53-73, Springer.
    14. Mauro Sciarelli & Mario Tani & Giovanni Landi & Ornella Papaluca, 2019. "The Impact of Social Responsibility Disclosure on Corporate Financial Health: Evidences from Some Italian Public Companies," International Business Research, Canadian Center of Science and Education, vol. 12(3), pages 109-122, March.
    15. Kamalesh Kumar & Giacomo Boesso & Giovanna Michelon, 2016. "How Do Strengths and Weaknesses in Corporate Social Performance Across Different Stakeholder Domains Affect Company Performance?," Business Strategy and the Environment, Wiley Blackwell, vol. 25(4), pages 277-292, May.
    16. Muhammad Zahid & Haseeb Ur Rahman & Musa Khan & Wajahat Ali & Fazaila Shad, 2020. "Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3086-3103, December.
    17. Kiyoung Chang & Jean Kabongo & Ying Li, 2021. "Geographic proximity, long-term institutional ownership, and corporate social responsibility," Review of Quantitative Finance and Accounting, Springer, vol. 56(1), pages 297-328, January.
    18. Ricart, Joan E. & Rodríguez, Miguel A. & Sanchez, Pablo, 2002. "Sustainable development and sustainability of competitive advantage: A dynamic and sustainable view of the firm," IESE Research Papers D/462, IESE Business School.
    19. Oluyomi A. Osobajo & David Moore, 2017. "Who is Who? Identifying the Different Sub-groups of Secondary Stakeholders within a Community: A Case Study of the Niger Delta Region of Nigeria Communities," International Business Research, Canadian Center of Science and Education, vol. 10(9), pages 188-209, September.
    20. Haifeng Zhang & Zhuo Zhang & Ekaterina Steklova, 2020. "Do Companies Need Financial Flexibility for Sustainable Development?," Sustainability, MDPI, vol. 12(5), pages 1-14, February.

    More about this item

    Keywords

    social network analysis; stakeholder theory; resource dependence theory; network governance; strategic;
    All these keywords.

    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sgm:pzwzuw:v:14:i:64:y:2016:p:62-79. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/somuwpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.