Creating Value by Sharing Values: Managing Stakeholder Value Conflict in the Face of Pluralism through Discursive Justification

2020 ◽  
Vol 31 (1) ◽  
pp. 1-36 ◽  
Author(s):  
Maximilian J. L. Schormair ◽  
Dirk Ulrich Gilbert
Keyword(s):  
Stakeholder Theory ◽  
Value Creation ◽  
Stakeholder Engagement ◽  
Value Congruence ◽  
Value Conflict ◽  
Value Sharing ◽  
Sharing Values ◽  
The Face ◽  
Procedural Guidance ◽  
Discursive Justification

ABSTRACTThe question of how to engage with stakeholders in situations of value conflict to create value that includes a plurality of conflicting stakeholder value perspectives represents one of the crucial current challenges of stakeholder engagement as well as of value creation stakeholder theory. To address this challenge, we conceptualize a discursive sharing process between affected stakeholders that is oriented toward discursive justification involving multiple procedural steps. This sharing process provides procedural guidance for firms and stakeholders to create pluralistic stakeholder value through the discursive accommodation of diverging stakeholder value perspectives. The outcomes of such a discursive value-sharing process range from stakeholder value dissensus to low (agreement to disagree) and increasing levels of stakeholder value congruence (value compromise) to stakeholder value consensus (shared values). Hence, this article contributes to the emerging literature on integrative stakeholder engagement by conceptualizing a procedural framework that is neither overly oriented towards dissensus nor consensus.

From Customer-, to Actor-, to Stakeholder Engagement: Taking Stock, Conceptualization, and Future Directions

2020 ◽  
pp. 109467052097768
Author(s):  
Linda D. Hollebeek ◽  
V. Kumar ◽  
Rajendra K. Srivastava
Keyword(s):  
Stakeholder Theory ◽  
Value Creation ◽  
Stakeholder Engagement ◽  
Customer Engagement ◽  
Future Directions ◽  
Resource Endowment ◽  
Insight Into ◽  
Made In

Despite the significant strides made in the customer engagement literature, the need to understand any marketing actor’s engagement (vs. merely the customer’s) is increasingly recognized. Therefore, the budding actor engagement (AE) concept, which is commonly grounded in S-D logic, describes any marketing actor’s engagement, including that of customers, firms, employees, suppliers, and so on. However, while S-D logic-informed AE offers important insight into actors’ mutual value creation, it largely overlooks the sociopolitical notions that (a) actors’ potentially diverging goals may see them act against (vs. pro) focal others’ interests and (b) different actors may extract differing levels of value from interactions, as advanced in stakeholder theory. Based on these gaps, we extend existing AE research by developing integrative stakeholder theory/S-D logic-informed stakeholder engagement (SE). We deduce five core SE tenets, from which we conceptualize SE as a stakeholder’s state-based, boundedly volitional resource endowment in his/her role-related interactions, activities, and/or relationships. We conclude this article by discussing important implications that arise from our analyses and by identifying avenues for further research.

Entrepreneurship and Stakeholder Theory

ruffin_darden ◽  
2002 ◽  
Vol 3 ◽  
pp. 175-195 ◽  
Author(s):  
Ronald K. Mitchell ◽  
Keyword(s):  
Information Processing ◽  
Business Ethics ◽  
Stakeholder Theory ◽  
Value Creation ◽  
Common Ground ◽  
Cognitive Theory ◽  
Distribution Of Wealth ◽  
Value Sharing ◽  
Processing Theory ◽  
Research And Education

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.

Value creation through appreciation? An exploration of the perception of diversity management in a transnational aviation group

2020 ◽  
Author(s):  
Nicolai Scherle
Keyword(s):  
Value Creation ◽  
Social Research ◽  
Diversity Management ◽  
Flight Attendants ◽  
Success Factor ◽  
Qualitative Social Research ◽  
The Face ◽  
Methodological Principles ◽  
Tourism And Hospitality ◽  
Diversity Strategy

In view of certain socio-cultural and economic meta-processes, workforce diversity or diversity management become an increasingly important entrepreneurial success factor. Yet, the scholarly examination of diversity in the tourism and hospitality sector is still in its infancy; a fact that applies to qualitative studies in particular. This paper addresses the perception of diversity and diversity management within one of the world’s leading aviation corporations, the Lufthansa Group. Following the methodological principles of qualitative social research, this study reports the results of a survey of Lufthansa flight attendants, a stakeholder group that interacts like no other in the area of overlap between the corporation and its customers. Specifically, the survey focuses on Lufthansa’s diversity strategy – based on the principle of ‘value creation through appreciation’ – and how it is perceived by representatives of the cabin crew, in an attempt to identify potential conflicts and prejudices that may arise in the face of employee heterogeneity.

A Stakeholder Theory Perspective on Business Models: Value Creation for Sustainability

2019 ◽  
Vol 166 (1) ◽  
pp. 3-18 ◽  
Author(s):  
Birte Freudenreich ◽  
Florian Lüdeke-Freund ◽  
Stefan Schaltegger
Keyword(s):  
Stakeholder Theory ◽  
Value Creation ◽  
Business Models

scholarly journals Understanding the Process of Transitioning to Customer Value Management

2006 ◽  
Vol 31 (2) ◽  
pp. 1-28 ◽  
Author(s):  
B Muthuraman ◽  
Anand Sen ◽  
Peeyush Gupta ◽  
D V R Seshadri ◽  
James A Narus
Keyword(s):  
Value Creation ◽  
Value Chain ◽  
Customer Value ◽  
Customer Relationships ◽  
Value Chains ◽  
Value Management ◽  
Business Markets ◽  
Value Sharing ◽  
Customer Value Management ◽  
The Way

Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value is exploited. In this paper, the authors present the experiences of the India-based Tata Steel in implementing CVM across 25 select customers. This has enabled it to successfully come out of the commodity trap that it found itself some four years ago. The paper begins with an overview of existing research in the area of CVM covering the important aspects of customer loyalty, customer relationships, trust as an antecedent for relationships, value as a cornerstone of business markets, and importance of the supplier firm focusing on the efficacy of the value chain of which it is a part. While one part of the challenge for a supplier firm is to find avenues to create and deliver unique value to its customer firms, an equally formidable challenge is to obtain equitable return for value delivered. This is where value sharing through integrative negotiations between the supplier and customer firms becomes central. The authors conclude that current understanding on value creation and value sharing is at a preliminary stage. This is the gap that the paper seeks to address based on the actual experience of the company in implementing CVM. This paper presents a framework for mapping the various ideas generated in the CVM implementation process and attempts to build a value sharing methodology based on the CVM journey of the company. It concludes with several challenges that the company has to grapple with for continued progress on its CVM journey. One of the important challenges is addressing value drains and discovering new value creation avenues along all the interfaces between the various firms constituting the value chain all the way until the end customer. The key learnings can be summarized as follows: Success of CVM has to start from the top management of both supplier and customer firms. The focal responsibility cannot be delegated. Firms planning to embark on the CVM journey must adapt the CVM process to their own specific situations while general lessons can be drawn from Tata Steel�s CVM implementation experience. Meaningful roles must be found for all key managers in both supplier and customer firms for success of CVM implementation. It is necessary to take stretch targets for the process to be attractive and worth the while for both the firms. At the same time, it is essential to manage the expectations of both firms: CVM is not a panacea or a magic bullet to solve all the problems of both the firms. The overall philosophy of both firms must be to seek to expand the ‘value pie,’ thus coming up with integrative decisions based on aligned data where both the firms ‘read off the same page’ of data.

Conservation in the real world

2017 ◽  
Author(s):  
Joseph M. Kiesecker ◽  
Kei Sochi ◽  
Jeff Evans ◽  
Michael Heiner ◽  
Christina M. Kennedy ◽  
...  
Keyword(s):  
Protected Areas ◽  
Real World ◽  
Stakeholder Engagement ◽  
Spatial Planning ◽  
Human Population ◽  
Oil And Gas ◽  
Oil And Gas Development ◽  
The Real ◽  
The Face ◽  
Development Objectives

This chapter highlights the challenge of meeting conservation goals in the face of a rapidly expanding human population, and advocates for the conservation community to expand its focus from the siting of protected areas to also include spatial planning for how to achieve development objectives. A framework entitled, Development by Design, is introduced to proactively identify when development impacts are compatible with conservation goals and when they are not, and to invest as much analysis into anticipating where development is likely to occur as into biodiversity needs. This chapter examines two applications of this framework—oil and gas development in the western USA and mining in Mongolia, documenting how a mix of stakeholder engagement, strong science, and ultimately a willingness to compromise can not only produce significant conservation gains but also meet economic objectives.

Motivations for Value Co-creation in Higher Education Institutions Using Online Platforms: Case of Idea Bank

2015 ◽  
Vol 73 (2) ◽  
Author(s):  
Nabil Hasan ◽  
Azizah Abdul Rahman ◽  
Faisal Saeed
Keyword(s):  
Value Creation ◽  
Stakeholder Engagement ◽  
Global Market ◽  
Educational Institutions ◽  
Market Positioning ◽  
Online Platform ◽  
Online Platforms ◽  
New Ideas ◽  
Initial Results

The involvement of stakeholders in value creation is one of the successful marketing techniques. It helps to introduce a very clear view of understanding the stakeholder’s needs, thought and suggestions. Stakeholder engagement in value creation will highlight the fact that new ideas for developing services or products will help to meet customer’s needs and expectations. Ideation is one of the most important strategies that lead to development of such services, enhancing service quality and innovation. Motivation for generating ideas from stakeholders in Higher Educational Institutions (HEIs) through online interaction platforms is one of the challenges that needs further exploration, because of  human differences in the nature of motivation and mindset. Universiti Teknologi Malaysia (UTM) idea bank online platform is adopted as a case study in this research paper. The main aim of this study is to identify the factors that encourage stakeholders in HEIs to be continuously involved in value co-creation through available online platforms. Interviews with sample of active stakeholders have been conducted using open end questions. In addition, observation on idea bank website and analyzing the archive and website history is considered. The initial results identify three areas of motivations for value co-creation in HEIs: organizational motives, online platform characteristics, individual motives. Results and implications for this case study will help HEIs such as universities achieve better global market positioning, to differentiate themselves among others, and to develop stakeholder’s competencies.  

Value creation in industrial clusters: the strategic nature of relationships with stakeholders and the policy environment

2020 ◽  
Vol 13 (4) ◽  
pp. 535-550 ◽  
Author(s):  
Subrata Chakrabarty
Keyword(s):  
Conceptual Framework ◽  
Stakeholder Theory ◽  
Value Creation ◽  
Industrial Cluster ◽  
Industrial Clusters ◽  
Policy Environment ◽  
High Concentration ◽  
Relational View ◽  
Content Type ◽  
Stakeholder Relationships

PurposeGiven that an industrial cluster contains a high concentration of numerous stakeholders, a firm in an industrial cluster often ends up forming relationships with many of the stakeholders. The research questions are as follows: Does stakeholder-based management always lead to greater value creation? What are the moderators in this association? This paper proposes that although relationships with stakeholders can act as a “catalyst” for value-creation, they can also act as a “retardant.” A combination of (1) the strategic nature of the relationships and (2) the policy environment determines whether the relationships with stakeholders act as catalysts or retardants.Design/methodology/approachUsing relationship-focused theory, a conceptual framework that adopts a relational view of stakeholder theory is developed. Given the high concentration of stakeholders in industrial clusters, the conceptual framework uses stakeholders in industrial clusters as a setting. A firm can form relationships with a variety of stakeholders in an industrial cluster. The strategic nature of a relationship with a stakeholder is assessed in terms of variations in strategic intent and intellectual spillover.FindingsThe key argument is the following: whether a relationship with a stakeholder becomes a catalyst or a retardant for value creation is contingent on the fit between the strategic nature of the relationship and the policy environment. For instance, in a probusiness policy environment, relying on relationships with stakeholders that maximize intellectual spillover can act as a catalyst for value creation. In contrast, in an antibusiness environment, not having to rely on intellectual spillover is a safer option.Originality/valueWhereas the literature implicitly assumes that stakeholder theory has relational essence, the conceptual framework developed in this paper adopts a relational view of stakeholder theory in a very explicit way. This paper applies relationship-focused theory by making explicit the different forms of stakeholder relationships. Such an explicitly relational approach in theorizing can help in more in-depth research on the link between stakeholder relationships and value creation. The conceptual framework will allow future research to analyze value creation in an industrial cluster, especially in terms of how stakeholder relationships can act as either catalysts or retardants.

Value Creation from a Stakeholder Theory Perspective

2019 ◽  
Vol 2019 (1) ◽  
pp. 15012
Author(s):  
Kerstin Neumann ◽  
Peter Maria Snoeren ◽  
Jan-Willem Stoelhorst ◽  
Joseph T. Mahoney ◽  
Jeffrey S. Harrison ◽  
...  
Keyword(s):  
Stakeholder Theory ◽  
Value Creation
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