Competitive Success in Responsible Regional Ecosystems: An Empirical Approach in Spain Focused on the Firms’ Relationship with Stakeholders

Abstract

Nowadays, any business manager is concerned about sustainability issues and is wondering how to implement social and environmental practices creating economic and social value at the same time. The implementation of social responsibility programs is justified by the benefits that result from a good relationship of the firm with key stakeholders. The present research investigates the links among firms' relationship with stakeholders, firms' champion behavior, stakeholders' satisfaction and firms' competitive success in regional contexts where social responsibility is promoted. Using the resource-based theory and the concept of shared value, a conceptual model is proposed in which a strong firm relationship with stakeholders will cause the stakeholder' satisfaction and will help the firm to become a champion in the market, contributing to improved competitiveness. This empirical analysis was based on survey data through partial least squares structural equation modeling (PLS-SEM) from 130 Spanish firms in the Region of Extremadura. Participants were firm managers in regional clusters involved in the social responsibility journey promoted by the local government. The results suggest that a good relationship of the frim with stakeholders directly and positively influences firm competitive success, and also, it is enhanced by improvements in stakeholders' satisfaction and firm champion behavior.

The Effects of Creating Shared Value on the Hotel Performance

“…Porter and Kramer [1] suggested that CSV not only presumes compliance with the law and ethical standards, and mitigates negative impacts caused by business, but also goes beyond these aspects; it represents a new way to understand how customers, productivity, and external influences affect company success. Thus, companies can move towards sustainable development and create value for the community rather than limiting their strategies to the reactive resolution of specific environmental issues [18][19][20]. However, research on social entrepreneurship shows that there are tensions inherent to the simultaneous creation of social benefits and economic value [21], but these tensions can be resolved and the fundamental socio-economic transformation sought by CSV can be achieved over time [22].…”

Orientation towards social responsibility of North-West African firms

“…Tidd et al (2005) summarized the most important characteristics of innovations in contributing to achieving competitive success and, related to CSR, the authors highlighted growth by means of non-price factors. According to this general framework, we consider that the level of CSRO in North-West African firms will have an effect on competitive success (Gallardo- Vázquez and Sánchez-Hernández, 2014a;Sánchez-Hernández et al, 2017a) thanks to the ability of West African firms to innovate and to create competitive advantages in the market Kramer, 2006, 2011). In sum, innovation is essential for sustainable growth and development and both CSR and innovation are the foundation of firm competencies.…”

Water Management Reporting in the Agro-Food Sector in South Africa

“…This "something" should be a moral or ethical issue that will be the real justification for the business [41]. To be responsible implies that any organization has responsibilities beyond profit-seeking and must conduct entrepreneurial actions in a manner that also meets social and environmental standards.…”