Due to recent technological advances, organizations currently face massive changes of their work design and leadership. Unfortunately, the exact nature of these changes is still unclear as most existing studies were conducted during earlier stages of the digital transformation and the available literature is highly fragmented. To provide an up-to-date overview on the changes in work design and leadership resulting from the digital transformation and to structure our existing knowledge in this domain, we conducted an open-ended online survey with 49 recognized digitalization experts and identified key themes of change. In sum, four key themes of change affecting both work design and leadership emerged, namely changes in work-life and health, the use of information and communication technology, performance and talent management and organizational hierarchies. In addition, two macro-level change dimensions regarding the structure of work and relationshiporiented leadership evolved. While some of the identified changes were partly covered in earlier studies, others have so far not received much attention despite their apparently high relevance in the current stage of the digital transformation. The results of this study therefore provide an important basis for future research and help organizations to strategically prepare for the requirements of the digital age.
Companies regularly have to address opposing interests from their shareholding and non-shareholding stakeholder groups. Consequently, a wealth of previous research has focused on how CEOs decide which stakeholder management activities to pursue and prioritize. In contrast, however, surprisingly little research has considered how (potential) investors react to a company's management of shareholding and non-shareholding stakeholders and what factors drive their reactions in such contexts. We seek to fill this gap in the literature by conducting an experimental scenario study (N = 997) in which investment behavior is analyzed in situations in which management has to make a trade-off between shareholders' and non-shareholding stakeholders' interests. Our results show that (potential) investors consider the assumed costs of fulfilling non-shareholding stakeholders' interests and the perceived sustainability of doing so for corporate success when making investment decisions in such contexts. In cases of low costs or high sustainability, participants were more willing to invest in a company that favored nonshareholding over shareholding stakeholders (thereby deciding against their immediate financial interests), while the opposite was true in cases of high costs or low sustainability. With these results, our paper broadens stakeholder theory's focus by taking individual investors' reactions to corporate stakeholder management into account. Moreover, it both provides evidence for and extends the ''Enlightened & Tanja Schwarzmüller
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