Why the Time Has Come to Retire Instrumental Stakeholder Theory

Incumbent Stakeholder Management Performance and New Entry

“…Special knowledge of stakeholder utility functions represents information asymmetry disadvantages and causal ambiguity for potential entrants who do not have access to stakeholders' utility functions or tacit knowledge (Cennamo et al 2009). Moreover, managing for stakeholders may create barriers through path dependence (Mishina et al 2012) because firms that develop trust early on may benefit from a chain of subsequent reciprocal actions and reactions making it difficult both for new entrants and for rivals that have underinvested in stakeholders to catch up (Weitzner and Deutsch 2019). A reputation for fairness creates a barrier to imitation for other firms (Jones et al 2018), including barriers to entry for entrepreneurs.…”

Ethics, Responsibility, and Sustainability in MBAs. Understanding the Motivations for the Incorporation of ERS in Less Traditional Markets

“…In other words, is it only an increased awareness (as GR1 put it) of the broad area of ERS comparable to the achievements in other subject areas or a real/deep change in the professional and personal behavior/mindset of these future business leaders? More importantly, do students still see a tradeoff between morally sound and economic profitable courses of action as Weitzner and Deutsch [8] observed? These questions imply that ERS-related courses in MBAs are mediators, i.e., underlying mechanisms/processes that relate activities with outcomes.…”

“…Among the main concerns in assessing this/these value/values is what Parker [1] defines as the hidden curriculum, the idea "that the purpose of the business school curriculum is to conceal capitalism as common sense" [3] along with a "market managerialism" [4] that perpetuates "a particular form of organizing that relies on hierarchy, inequalities of status, and reward" [1] leaving "human factors and all matters relating to judgment, ethics, and morality" [5] in second place. This framework implicitly has an instrumental approach [7] which brings the "perception of a necessary tradeoff between managerial courses of action that are morally sound and those that are economically profitable" [8] which seems to be what the next generation of leaders attending BS are receiving with regard to the complex challenges faced by business and society [9]. Although it is doubtful that management education can deal with all ethical dilemmas, or that it can be made responsible for how people act outside the classroom (as their inner values are developed over their entire lives), at least it should become a place for exposure, interaction, and experiences to make cognitive and effective changes in students that have a positive influence in their approach to decision-making processes [1].…”

La responsabilidad social corporativa de la TV local: estudio de caso

“…Como se mencionó anteriormente, existen grupos con quienes la empresa se relaciona y que se denominan como stakeholders, siendo estos cualquier grupo o individuo que pueda afectar o ser afectado por el logro de los objetivos de la empresa (Weitzner & Deutsch, 2019). De aquí en adelante, la visión de la empresa, que anteriormente se enfocaba en la producción y en la parte gerencial, pasa a redefinirse bajo una perspectiva donde los líderes ya no deben dirigirse en sus actividades solo en busca de un beneficio máximo para los accionistas o ser instrumento para la obtención de alcances económicos (Bardos et al, 2020), sino que deben tener por meta velar, satisfacer y cumplir, en lo que más esté a su alcance, los diferentes intereses y objetivos de los grupos que, de alguna manera, se involucran o tienen una relación con la empresa.…”