For-Profit Firms’ Contribution to Society

Cruz, Marcelo de la und Spanjol, Jelena (6. Juli 2022): For-Profit Firms’ Contribution to Society. A Strategic Orientation Perspective. In: Academy of Management Proceedings, Bd. 2022, Nr. 1

Abstract

For-profit firms are increasingly being called on to effectively create value to society beyond financial and customer value. Thus, the need for strategic orientations accounting for this expanded view on value is growing. We aim at providing a systematic conceptualization, aligned to the social value concept of the strategic orientation addressing the “contribution to society imperative”. Therefore, we reviewed 139 social value definitions drawn from articles in leading peer-reviewed journals across business disciplines into a strategic orientation that we labeled Strategic Social Value Orientation (SSVO). SSVO consists of three behavioral components (leading the business with purpose, support of stakeholders, focus on consequences) and one shared belief (mutuality) that characterize a business philosophy directing firms' activities towards the promotion of the common good. Furthermore, we developed and validated a linguistic, content-analytic measure for examining SSVO at organizational-level to facilitate future empirical studies across business disciplines. Our research advances the strategic orientation and organizational capability literatures, and informs practitioners seeking to integrate social value creation into for-profit firms’ mainstream business and thus securing long-term success. We are convinced that SSVO is a meaningful instrument for scholars and practitioners and an important step in understanding the expanded view on for-profit firms’ value creation.

• Dokumententyp: Zeitschriftenartikel
• Fakultät: Betriebswirtschaft > Institut für Innovation Management
• Themengebiete: 300 Sozialwissenschaften > 330 Wirtschaft
• ISSN: 0065-0668
• Sprache: Englisch