Managing stakeholder pressures: Toward a typology of corporate social performance profiles |
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Institution: | 1. Investment and Development Center, Country Garden Holdings Co. Ltd., Shunde District, Foshan City, Guangdong Province, 528312, PR China;2. Massey University, Business School, Albany Campus, Private Bag 102904, Auckland 0745, New Zealand;3. University of South Australia, Business School, GPO Box 2471, Adelaide, SA, 5001, Australia;4. Kansas State University, College of Business Administration, 3091 Business Building, 1301 Lovers Lane, Manhattan, KS, 66506, USA |
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Abstract: | Why do some firms ignore some stakeholders while courting others? We propose two key drivers of firms' social postures and derive from this analysis a novel typology of corporate social performance (CSP) profiles. Although we expect that other drivers exist, we argue that a useful starting point for understanding any given CSP profile is to consider the pressure exerted on an organization by its stakeholders in conjunction with its level of resource endowment. Our preliminary typology identifies six distinct CSP profiles that reflect different opportunities and risks for stakeholder management: the CSP Vanguard, Opportunist, Generalist, Minimalist, Specialist, and Laggard. All else equal, the first two CSP profiles imply more nonmarket opportunities than risk, whereas we expect Laggards and Specialists to face greater risk in their responses to social and environmental issues. According to our framework, Generalists and Minimalists probably operate between these two extremes of business risk. Our conceptual analysis seeks to advance research and practice for more strategic stakeholder management. |
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Keywords: | Corporate social performance (CSP) Corporate social posture Corporate social responsibility CSP profile Instrumental stakeholder theory (IST) Organizational resources Stakeholder management |
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