Abstract
As the roles of customers, employees, suppliers, shareholders, regulators, and communities become more significant in today’s business environment, a precise understanding of the organization’s internal drivers in delivering value to its stakeholders is critical. To this end, this study integrates stakeholder theory and the organizational learning literature to propose that stakeholder-focused organizational learning drives organizations to respond to their stakeholders. Using a sample of 349 organizations, we introduce three stakeholder-focused knowledge acquisition mechanisms (experiential, vicarious, and contact) and, along with the other organizational learning processes (information distribution, information interpretation, and organizational memory), examine their influence on the behavioral actions of stakeholder-focused responsiveness, innovation, and imitation. Subsequently, we assess the impact of these behavioral actions on organizational performance. Overall, the results show that stakeholder-focused organizational learning is positively associated with responsiveness. More uniquely, the propensity to employ innovative or imitative stakeholder practices is found to be influenced by the way the organization acquires information about stakeholders. Lastly, the findings suggest that simply responding to stakeholders does not guarantee superior performance, but the manner in which the organization responds matters just as much.
Published Version
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