Benchmarking Tendencies in Managerial Mindsets: Prioritizing Stockholders and Stakeholders in Peru, South Africa, and the United States

Parnell, John A.; Scott, Gregory J.; Angelopoulos, Georgios

doi:10.1007/s10551-012-1555-4

Cited by 10 publications

(4 citation statements)

References 60 publications

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“…Evidence that supports this argument in the US context might be found in emerging economies, where NMS tends to be associated more with corruption and has an unfavorable connotation (Adly 2009; Calder on et al, 2009) that lack appropriate legal frameworks and infrastructures (Mantere et al, 2009;Barron, 2010;Lailani Laynesa and Mitsuhashi, 2013;Vázquez-Maguirre and Hartmann, 2013;Holburn and Vanden Bergh, 2008;Peng, 2003). Although illegal in most countries, activities such as bribery, collusion with competitors and even direct payments to politicians are often tolerated in less developed nations (Cavazos and Rutherford, 2012;Kingsley et al, 2012;Rival, 2012;Vázquez-Maguirre and Hartmann, 2013;Parnell and Dent, 2009;Parnell et al, 2013;Mantere et al, 2009). Strategic uncertainty also tends to be higher as well (Bonardi et al, 2006;Delios and Henisz, 2003;Ghemawat, 2008).…”

Section: Strategic Uncertainty and Nonmarket Strategymentioning

confidence: 99%

Nonmarket and market strategies, strategic uncertainty and strategic capabilities

Parnell

2018

MRR

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Purpose Amidst rapid development in emerging economies, greater emphasis on public–private partnerships and a more complex regulatory environment, nonmarket strategy (NMS) is now widely viewed as a key component of a firm’s overall strategy. This paper aims to investigate how nonmarket and market strategies are influenced by strategic uncertainties and capabilities and ultimately drive firm performance. Design/methodology/approach A survey addressing strategic uncertainties, capabilities, NMS and market strategy and firm performance was administered online to 193 practicing managers in the USA. Measures for competitive strategy (i.e. cost leadership and differentiation), NMS, management and marketing capabilities, competitive and technology uncertainties and firm performance were adopted from or based on previous work. Hypotheses were tested via SmartPLS. Findings Emphasis on NMS was linked to high marketing capability, high competitive uncertainty and high technology uncertainty. Cost leaders were more likely than differentiators to emphasize on NMS, although all three strategies were positive drivers of performance. NMS appears to be viewed as a part of an integrated strategic approach by managers in many organizations. Research limitations/implications The sample included mangers in multiple industries. Self-typing scales were used to assess strategic emphasis and firm performance. Practical implications Emphasis on NMS can promote firm performance, but the relationship is complex. Strategic managers should align the NMS with organizational capabilities and a market-oriented strategy appropriate for the firm. Originality/value This paper provides empirical support for a model linking select strategic uncertainties, capabilities, market strategy and NMS and firm performance. It supports NMS as a key performance driver, but with links to uncertainties and capabilities that differ from those of market strategies.

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Section: Strategic Uncertainty and Nonmarket Strategymentioning

confidence: 99%

Nonmarket and market strategies, strategic uncertainty and strategic capabilities

Parnell

2018

MRR

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“…As a consequence, little room is left for managers to engage in these activities (Johnson, Sutton and Theis, 2019) and it is more likely that firms will focus on certain CSR activities and adopt a specialized CSR structure. All financially unprofitable social and environmental actions are not considered as a firm priority per se and are best left to governments and not-for-profit organizations (Johnson et al, 2019;Parnell, Scott and Angelopoulos, 2013).…”

Section: Firm Value Implications Of Csr Specialization Versus Diversi...mentioning

confidence: 99%

CSR Structures: Evidence, Drivers, and Firm Value Implications

et al. 2022

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This paper investigates the corporate social responsibility (CSR) structures of U.S. listed firms. We find evidence of a general tendency towards CSR specialization with almost three-quarters (73.91%) of these firms focusing on a single CSR dimension. The degree of specialization varies across industries and the single CSR dimension focused on also varies for industries with similar degrees of specialization. We find that firms with higher exposures to CSR concerns, international activities, larger size and higher financial slack tend to diversify across multiple CSR dimensions. More importantly, we find evidence that diversified CSR structures positively affect a firm's value relative to a control group before and during the 2008 financial crisis. Our findings have important implications for corporate and portfolio managers, investors and policy makers.

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“…Some activities such as bribery are overt and are generally illegal. Other activities, such as forms of collusion with competitors, lobbying legislators, and negotiating with regulators, are more cunning and situational, and do not always have a clear legal standing (Cavazos and Rutherford, 2012;Kingsley et al, 2012;Mantere et al, 2009;Parnell and Dent, 2009;Parnell et al, 2013;Rival, 2012;Vázquez-Maguirre and Hartmann, 2013). Broadly speaking, these concerns are more prevalent in emerging economies that lack appropriate legal frameworks and infrastructure (Barron, 2010;Holburn and Vanden Bergh, 2008;Lailani Laynesa and Mitsuhashi, 2013;Mantere et al, 2009;Peng, 2003;Vázquez-Maguirre and Hartmann, 2013).…”

Section: Spementioning

confidence: 99%

Strategic political emphasis, strategic capabilities and uncertainty

Parnell

2015

Journal of Strategy and Management

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Purpose – With heightened regulations in many nations, increasing political influence, greater emphasis on government-business partnerships, and the rapid development of emerging markets, the notion of nonmarket strategy (NMS) is now widely viewed as a key component of a firm’s overall strategic orientation. The purpose of this paper is to investigate factors associated with strategic political emphasis (SPE), a key part of NMS. Design/methodology/approach – A survey instrument including items related to competitive strategy, environmental uncertainty, strategic capability, performance, and SPE was administered to 275 managers in the USA. Strategy along Porter’s typology, strategic capabilities, uncertainty, and performance were measured via existing scales. Items were created to assess SPE. Findings – Managers in firms with greater SPE also reported greater uncertainty about competition and markets, and lower capabilities with regard to management and technology. Managers in organizations with weaker market orientations (MOs) – including greater uncertainty about competition and markets, and lower capabilities in management and technology – emphasized greater SPE. Managers reporting lower capability levels in their firms were more likely to report higher SPE and to have increased SPE in the last decade. Select uncertainties and capabilities – not competitive strategy per se – appears to have prompted an increase in SPE in these firms. Originality/value – An effective NMS is vital from the perspectives of both profit maximization for shareholders and the satisfaction of broader, social objectives. However, many executives are trained to excel in the market arena and may not have the skill set and temperament necessary for success in NMS and specifically, the political arena. Moreover, SPE and market strategies are not always consistent, challenging executives to integrate and balance the two orientations.

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Benchmarking Tendencies in Managerial Mindsets: Prioritizing Stockholders and Stakeholders in Peru, South Africa, and the United States

Cited by 10 publications

References 60 publications

Nonmarket and market strategies, strategic uncertainty and strategic capabilities

Nonmarket and market strategies, strategic uncertainty and strategic capabilities

CSR Structures: Evidence, Drivers, and Firm Value Implications

Strategic political emphasis, strategic capabilities and uncertainty

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