The Limits of Strategic Rationality: Ethics, Enterprise Risk Management, and Governance

Weitzner, David; Darroch, James L.

doi:10.1007/s10551-009-0159-0

Cited by 23 publications

(23 citation statements)

References 7 publications

(5 reference statements)

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“…Anything that could affect the organizational reputation, the image or the brand is a potential source of reputational risk [9,10], but its management is frequently insufficient or inexistent in numerous organizations [36]. In fact, inadequate management of any risk can lead to reputational damage [37], because reputational risk shows how wide, important and imprecise the risks that may affect an organization can be [38]. This reputational damage can manifest in several different ways.…”

Section: Reputation As a Risk Sourcementioning

confidence: 99%

Reputation, Game Theory and Entrepreneurial Sustainability

2016

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Abstract:This manuscript provides a novel approach to reputational management as a driver of entrepreneurial sustainability, using game theory to integrate three dimensions of reputation. First, if the entrepreneur perceives reputation as a risk source, the analysis is framed as a prisoner's dilemma schema that is solved by protecting against reputational threats from entrepreneurial sustainability. Second, if the entrepreneur perceives reputation as a competitive advantage, the analysis is framed as an innovator's dilemma that is solved by getting reputational opportunities from entrepreneurial sustainability. Third, if reputation is perceived as a strategic asset, the analysis is framed as a coordination game schema that results in the development of a reputational intelligence skill that has the potential to become crucial for success in entrepreneurial sustainability. Consequently, this manuscript provides an original multidisciplinary analysis of reputational management by relating well-known theoretical results from game theory to organizational realities.

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Section: Reputation As a Risk Sourcementioning

confidence: 99%

Reputation, Game Theory and Entrepreneurial Sustainability

2016

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“…Avram and Kahne (2008) argued that firms could charge a premium for their CSR-oriented approaches. The sustainable products" market positioning could be improved through the use of social responsibility and responsible supply chain management (Palazzo and Basu, 2007), There are positive implications for certain firms that pursue differentiation strategies (through social and environmentally responsible practices) as a means to signal an image of high product quality and sustainability to consumers (Tate et al, 2010), As a matter of fact, numerous findings reported how socially responsible business practices are actually improving both brand equity and organisational performance (Lai, Chiu, Yang, and Pai, 2010;Castaldo, Perrini, Misani and Tencati, 2009), On the other hand, some other contributions have indicated that there is little evidence on socially responsible firms that pursue niche strategies in narrow markets (Van De Ven and Jeurissen, 2005;Weitzner and Darroch, 2010), It may appear that the supply chain literature has often ignored how niche firms develop their supply chain strategies (Baier et al, 2008;13 Cousins, 2005), Perhaps, it may prove difficult for academia to propose a specific relationship between niche strategy and socially responsible supply chain management. The responsible procurement of materials and products may not necessarily constitute a part of the firms" strategy.…”

Section: The Link Between Responsible Supply Chain Management and A Dmentioning

confidence: 99%

“…The responsible procurement of materials and products may not necessarily constitute a part of the firms" strategy. Notwithstanding, the promotion of the responsible supply chain management could be beneficial if it is directed toward socially conscious consumer groups (Weitzner andDarroch, 2010), Weitzner and Darroch (2010) argued that there is a wide array of niche strategies that strive in their endeavours to appeal to different market subgroups. The specialised products that are marketed using a niche strategy will be easily distinguishable from other competitors" products.…”

Section: The Link Between Responsible Supply Chain Management and A Dmentioning

confidence: 99%

The rationale for responsible supply chain management and stakeholder engagement

Camilleri

2017

JGR

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PurposeFirms are increasingly resorting to responsible supply chain management as they align their economic success with socially-responsible initiatives in their value chain. This contribution suggests that there are opportunities for global corporations who are keen on integrating responsible practices into their business operations. It is in their interest to report about their responsible supply chain management, social performance and sustainable innovations to their stakeholders. Design/methodology/approachThis review paper identifies future research avenues in the promising areas of responsible procurement and global supply chain management. FindingsThe corporations" differentiated strategies as well as their proactive engagement in responsible supply chain management can lead them to achieve a competitive advantage in the long term. the low-cost producers may be neglecting the marketplace stakeholders, including suppliers, distributors among others. Moreover, the smaller businesses" could not be in a position to follow responsible procurement practices as they may lack the scarce resources to do so. Originality/valueThis paper raises awareness about the integration of socially responsible behaviours and sustainable practices in business operations. It contends that a responsible supply chain management necessitates an improved relationship with suppliers and distributors in the value chain. This stakeholder engagement with ultimately create value to the businesses themselves.

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“…The tension between strategy and ethics or the dichotomy between the used criteria, priorities, and values are raised by several authors (Behnam and Rasche, 2009;Singer, 2009;Weitzner and Darroch, 2010). For Elms, Brammer, Harris, and Philips (2010) "the two fields started with similar interests, diverged, and are beginning to converge again" (p.401), whereas Singer (2009) states that "strategy and ethics have long been regarded as expressions of contrasting valuepriorities" (p.480).…”

Section: Introductionmentioning

confidence: 99%

Linking CSR to Strategy: A Practical View

Świątkiewicz

2017

Foundations of Management

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Abstract:The purpose of this paper is to present a basic compendium of how companies can integrate social responsibility into their strategies. The paper analyzes and synthesizes ideas and proposals based on the literature review from different fields. It proposes a practical approach that does not highlight the differences but the positive and mutual synergy of social responsibility with firm's strategy. There are many practical proposals in the literature and a lot of successful examples from business practice that show how organizations can or have made the implementation of social responsibility into their strategy to work efficiently, but their strategic, social, and environmental importance differs and is limited by many factors. The paper presents different means of connecting social responsibility with organizational strategy to make it work, which can be useful for practitioners, students, and wider public. The paper adds the praxiological or practical perspective to deal with a small but persisting organizational problem and a great social expectation, how to link efficiently social responsibility with organizational strategy into one coherent stream of purposes.

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The Limits of Strategic Rationality: Ethics, Enterprise Risk Management, and Governance

Abstract: decision-making, enterprise risk management, ethics, strategic management,

Cited by 23 publications

References 7 publications

Reputation, Game Theory and Entrepreneurial Sustainability

Reputation, Game Theory and Entrepreneurial Sustainability

The rationale for responsible supply chain management and stakeholder engagement

Linking CSR to Strategy: A Practical View

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