Abstract
This paper seeks to remedy two problems that have prevented a broader integration of stakeholder thinking into strategy research and practice. The first is the excessive prescriptive focus on only current/existing stakeholder relationships. The second is the perception of a necessary trade-off between managerial courses of action that are morally sound and economically profitable. To solve these problems, we present a common lexicon of salience, drawing on both instrumental and business ethics frameworks, to develop a stakeholder salience approach to strategic re-positioning. We apply the new lexicon in four managerial contexts and propose a managerial orientation where trade-offs between strategic and ethical behaviors become substantially smaller which we term strategic/convergent salience.
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