Abstract
Abstract: This manuscript provides a novel approach to reputational management as a driver of entrepreneurial sustainability, using game theory to integrate three dimensions of reputation. First, if the entrepreneur perceives reputation as a risk source, the analysis is framed as a prisoner’s dilemma schema that is solved by protecting against reputational threats from entrepreneurial sustainability. Second, if the entrepreneur perceives reputation as a competitive advantage, the analysis is framed as an innovator’s dilemma that is solved by getting reputational opportunities from entrepreneurial sustainability. Third, if reputation is perceived as a strategic asset, the analysis is framed as a coordination game schema that results in the development of a reputational intelligence skill that has the potential to become crucial for success in entrepreneurial sustainability. Consequently, this manuscript provides an original multidisciplinary analysis of reputational management by relating well-known theoretical results from game theory to organizational realities.
Highlights
In recent years there has been a turn from plain law obedience to ethical principles because of the increasing relevance of reputation and reputational risk [1]
Academic literature establishes that reputation is affected by a vast number of factors that influence its value, indicating that there is a specific reputation-related risk, either a downside or upside [8], that needs to be effectively managed just like any other risk source [9,10]
There is some evidence indicating the key role of a sustainable attitude and its disclosure for an effective reputational risk strategy [11,12,13,14,15]
Summary
In recent years there has been a turn from plain law obedience to ethical principles because of the increasing relevance of reputation and reputational risk [1]. This approach leads to a new business philosophy that can be contextualized into a coordination game schema, where reputation permeates every action or decision and, as a final outcome, the results are consistent with the theory of multiple intelligences, allowing the development of a new skill that can be called reputational intelligence As a result, this manuscript provides an original multidisciplinary analysis of reputational management by relating well-known theoretical results from game theory to organizational realities, considering that an organization can adopt different identities when facing sustainability issues [25] and favoring the appearance of new approaches [26] as well as the reconsideration of the traditional ones [27].
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