Meet Stakeholder Expectations Research Articles

Coronavirus pandemic and economic lockdown; study of strategic initiatives and tactical responses of firms

PurposeThe coronavirus pandemic (COVID-19) and the associated economic lockdown provided a jolt to businesses around the world and the global economy. Amid the ongoing uncertainty, circumstances varied across business sectors and regions, but the common goal for business organizations was to respond effectively, devising strategies to survive the turmoil and accelerate recovery. The narrative in India was no different from the rest of the world. Due to the novelty of the event, literature regarding its impact on the strategic management of firms was scarce. Thus, this paper aims to attempt to ascertain the crisis impact on firms and subsequently unravel the tactical short-term and long-term strategic responses initiated by Indian firms.Design/methodology/approachThe authors carried out an empirical investigation to comprehend the strategic foresight adopted by Indian firms. Following a structured literature review, the authors conducted semi-structured open-ended interviews with 28 business experts who were involved in drafting strategic responses for their respective firms. Subsequently, the authors performed a thematic content analysis of the expert interview responses to document firm-level strategic responses to the COVID-19 crisis and associated economic lockdown. The authors further searched reputed media articles to supplement and triangulate the primary research findings with management perspectives.FindingsThe authors identified that managers had adopted a dual approach responding to the disruption. Companies simultaneously focused on surviving the crisis in the short-term by reconfiguring existing resources and initiated long-term recovery by mobilizing efforts for a redesigned business model. The research findings indicated that companies had adapted to the dynamic chaotic crisis environment to fulfill the changed consumer expectations. Remote working was widely implemented, supply networks were adjusted, operations were managed with minimal resources, working capital was closely monitored and the product-portfolio was revamped to reap benefits in an essentials-only world. The impact of several strategic firm responses was determined through this study on the revenue, profitability, operational costs and regulatory adherence of the companies along with the ability to meet stakeholder expectations. The study suggested that companies encouraged innovative solutions and highlighted the importance of collaborative inter-organizational practices.Research limitations/implicationsThe study contributed to an inter-theoretical perspective on firm strategic initiatives to confront a global crisis. Resource-based view, dynamic capabilities perspective and industrial-organizational theory-based perspectives, were applied. This facilitated an extensive analysis of the entire business ecosystem to identify various paths to accelerated recovery during and post COVID-19 world.Practical implicationsThe research findings would aid managers in drafting a comprehensive response strategy during and post COVID-19 world. This study results would help managers in addressing multiple concerns such as the sustainability of operations in the short-term through working capital management, the fulfillment of changing consumer needs through sustained innovation and business model alterations to ensure long term growth. The study enabled managers to prioritize necessary actions, ascertain the impact of strategic initiatives and build sustainable competitive advantage for long-term growth.Originality/valueThe novel coronavirus pandemic and the associated economic lockdown impacted firm strategies and this was one of the very first empirical studies regarding how firm-level short-term tactics and long-term strategies were getting reshaped. Traditionally, companies were prepared to handle localized disruptions but a crisis of such epic global proportions jeopardized most business. This study provided an extensive review of the short-term tactical and long-term strategic response perspectives adopted by Indian firms to absorb the impact of this unique crisis and expected recovery with renewed strength. This was one of the first research articles to provide an inter-theoretical perspective on the ongoing global pandemic. This integrated view of the possible impacts of firm-level strategic initiatives provided a detailed knowledge repository to design the crisis response capability of firms.

Assessment of Demographic Characteristics and Self-Actualization Dimensions of Academic Leaders in Tamil Nadu Universities: An Empirical Study

The main aim of the research is to find out the details of demographic characteristics and priorities of self-actualization dimensions of academic leaders in Tamilnadu Universities. This report targets in identifying significant self-actualization dimensions and their importance. The conceptual framework of the paper is based on self-actualization and academic leader’s demographic characteristics. The demographic factors analyzedusing mean & standard deviation of self-actualization. For this purpose, a sample survey has been conducted taking a sample size of 419 using techniques multistage random sampling. In our research academic leaders belonging to different age groups, gender, educational qualification, different designation, salary and years of experience were surveyed. From the descriptive analysis most of the academic leaders is male and their age group is 49-53 years.
 Most of the academic leader’s qualification is Ph.D. and their designation are SCAA/AC/Chair/Co-ordinator. Most of the academic leader’s monthly income is Rs 150001 to 210000 and their experience 21 to 26 years. The further analysis is Equanimity has been ranked as top most self-actualization Dimensions. This implies that academic leaders give more importance to self-actualization. Academic leader’s role is important at any institution of higher education. Their demographic profile is influence to develop the institutions and job tasks they perform everyday have a directly influence on the organization’s ability to meet stakeholder expectations.

Impact of Sustainability Reporting on Brand Value: An Examination of 100 Leading Brands in Singapore

The recent sustainability reporting (SR) mandate by the Singapore Exchange has heightened stakeholder awareness and propelled sustainability disclosures. Albeit encouraging, more than half of listed companies in Singapore do not produce sustainability reports. This signifies a lack of sustainability commitment, or perhaps, local companies have limited understanding on the potential value of sustainability. Our study aims to fill this gap by examining if (1) the 100 leading brands in Singapore similarly benefit from a higher brand value when they produce sustainability reports; (2) if more disclosure leads to higher brand value; (3) if a lagged effect is present. The methodology of this study included the collation of sustainability information from the 100 leading brands in Singapore, scoring each company’s sustainability performance using the Global Reporting Initiative (GRI) framework. Finally, we examine the correlations using regression analysis to compare the companies’ sustainability performance with the reputed brand rankings by Brand Finance. Our findings revealed that one-fifth of the 100 leading brands in Singapore do not engage in sustainability, despite the positive correlation between sustainability reporting and brand value. Our results also suggest that greater disclosure leads to higher brand value, yet social and environmental indicators are undermanaged. Moreover, there is a lagged effect as public perceptions take time to shape. Internalising a company’s sustainability vision through a multi-stakeholder consultative approach is critical. Brand managers and sustainability practitioners must be aware that failures to meet stakeholder expectations today may consequently impact investors’ decisions.

Protection of the environment

The International Commission on Radiological Protection's (ICRP) system to protect the living components of the environment is designed to provide a broad and practical framework across different exposure situations. The framework recognises the need to be able to demonstrate an adequate level of protection in relation to planned exposure situations, whilst also providing an ability to manage existing and emergency situations in an appropriate way. In all three exposure situations, the release of radionuclides into the natural environment leads to exposures of non-human biota (wildlife), as well as having the potential for exposures of the public. How the key principles of the ICRP system of radiological protection apply in each of these exposure situations will be discussed. Using examples, we will demonstrate how the overall approach provides a mechanism for industry to assess and demonstrate compliance with the environmental protection objectives of relevant (national) legislation, and to meet stakeholder expectations that radiological protection of the environment is taken into consideration in accordance with international best practice. However, several challenges remain, and these will be discussed in the context of the need for additional guidance on the protection of the environment.

Branding Public Universities in Ghana: A Supply Chain Perspective

Public universities in Ghana are funded by the state. In spite of this privilege, increased demand for improved facilities and the need for the introduction of innovative and competitive programmes, coupled with intense competition from their private counterparts have increased the pressure on these universities to either innovate or risk being crowded out from the market. The purpose of the paper is to investigate branding strategies adopted by public universities and their effects on meeting stakeholder expectations. The study analysed branding strategies of six public universities in Ghana. The findings revealed that most public universities’ branding strategies focused mainly on improvement of physical infrastructure; the provision of state-of-the-art laboratories; broad band internet services; the introduction of market driven programmes; the mounting of huge signposts and pull-up banners among others. Indeed, the research revealed that the ultimate goal of branding these institutions is to be able to appeal to prospective students and attract well-qualified and competent faculty members. However, further findings point to the fact that little attention is paid to perhaps the most important stakeholders - the students, who according to the extant literature serve as major stakeholders and brand ambassadors for these institutions. This study is significant because it brings to the fore essentials of branding and brand strategies appropriate to academic institutions and also re-orient educational authorities about the importance to rethinking the educational supply chain from the upstream through the midstream or the institutions through the downstream.

Tertiary Education: Meeting Stakeholder Expectations In A Fast-Changing World

Tertiary Education: Meeting Stakeholder Expectations In A Fast-Changing World

Integrating knowledge management in sustainability risk management practices for company survival

Sustainability risk management (SRM) is an approach that manages the broad spectrum of risks arising from sustainability issues such as climate change, resource depletion and natural catastrophes. SRM is an extension to Enterprise Risk Management (ERM) that aims to maximize environmental, social and economic performances for a company’s survival.In an SRM practice, knowledge management is a strategic resource for companies to sustain in the rapidly-evolved business environment. It provides a solution to address the unknown risks associated with environmental complexity. Thus, the aim of this study is to examine the moderating effect of knowledge management on the relationship between SRM critical factors (ERM bases and organizational resilience) and company survival among public listed companies (PLCs) in Malaysia. Partial Least Squares Structural Equation Modelling (PLS-SEM) technique is used to analyze the hypothetical model which is developed in this study.The result shows that knowledge management moderates the relationship between organizational resilience and company survival. This finding signifies that knowledge management is an important strategic resource to assist companies to develop effective risk management strategy. This will lead to better decision-making and risk controls which influence stakeholder value and company reputation. The study also finds that ERM bases and organizational resilience were significant towards company survival. Companies with strong ERM bases such as procedures, infrastructure and methods have higher chances of successful SRM implementation. Organizational resilience refers to the ability of a company to manage crises and disaster risks, which is crucial for a company’s survival. This study has both theoretical and practical implications. The result of this study provides relevant insights on the value of knowledge management to meet stakeholder expectations. It also provides a better understanding of the relationship between SRM implementation, its critical factors and company survival.

The Effects of Social Responsibility Activities on Stakeholders Purchase Intention

Following the anti-globalization movement, an ideology, which reflects a climate of defiance toward businesses, has spread out to the societies. Thereby, corporates have begun to engage in socially responsible behaviors not only to meet stakeholder expectations, but also to achieve their goal-oriented considerations. This research aims to analyze effects of corporates’ social and environmental responsibility activities on the purchase intentions of stakeholders by integrating the perspectives of obligations. Corporate Reputation Scale was conducted to most important stakeholder groups (customers, employees, rival corporates’ employees and public) by using purposive and random sampling methods. For the reliability measurement, a pre-test was conducted on 112 participants and during the research 680 questionnaires were gathered. Results reveal that the reflections of CSR image can differ according to the market. In the banking market, both making efforts for creating new jobs (economic obligation), taking responsibility on environmental issues (social obligation) and reducing its profits to ensure a clean environment (ethical obligation) are valuable. In the air transportation market social and economic obligations are perceived as significant by stakeholders whereas in the communication market social and ethical obligations are perceived as significant.

Chains of trust: Energy justice, public engagement, and the first offshore wind farm in the United States

Public acceptance of renewable energy technologies (RETs) is critical to the broader adoption of these technologies and reducing the role of fossil fuels in electricity generation. Recent investigations into the public engagement processes surrounding RET projects reveal certain procedural deficits, especially concerning procedural fairness and stakeholder trust. With this in mind, we analyze two engagement processes that led to the Block Island Wind Farm, the first operational offshore wind farm in the United States. Through semi-structured interviews we identify certain procedural techniques that allowed process leaders to first build public trust in themselves, then in the process, and ultimately in the outcome. This chain of trust was fostered through informal efforts of process leaders to meet stakeholder expectations concerning process leaders’ ability to work for the public interest, provide meaningful engagement opportunities, and to produce non-discriminatory outcomes. This case study highlights the potential of such informal actions to meet stakeholder expectations and build trust, while also empirically demonstrating specific techniques that future process leaders could employ to increase stakeholder acceptance of RETs.

The Emergence of Hybrid Collective Action

Business can take voluntary collective actions and regulate itself to meet stakeholder expectations regarding natural environment. Such voluntary actions often pre-empt regulation. But, what happens when firms avoid adopting a voluntary action that is expected to be taken collectively? We conduct a longitudinal process study on post- consumer product management, where policy-makers respond to business’s avoidance by imposing a ‘mandated collective action,’ which ultimately transitions into a ‘hybrid collective action.’ This hybrid form is co-regulated by industry and regulators and can solve the problems of free-riding and performance, commonplace in conventional voluntary collective actions and industry self- regulatory regimes. The hybrid model involves both collective action and policy, which have been generally viewed as parallel alternatives. However, marriage of the two alternatives creates unprecedented dynamics. Our grounded theorizing allows us to explore the dynamics and the salient concepts associated with the hybrid model. We suggest that hybrid collective action is an apt institutional alternative when collective action is needed, but normative institutions are not in place to shape and manage it.

A Novel “Resilience Viewpoint” to aid in Engineering Resilience in Systems of Systems (SoS)

AbstractDesigning evolutionary systems to meet stakeholder expectations on safety, reliability and overall resilience is of great importance in an age of interconnectivity and high dependency systems. With incidents and disruptions becoming more frequent in recent years, the requirement for systems to demonstrate high levels of resilience given the economic, political and temporal dimensions of complexity, resilience is of great significance today. Systemic resilience is of high importance at the global level. Therefore, the role of the system engineer and architect is becoming more demanding due to the need to consider requirements from a broader range of stakeholders and to implement them into early conceptual designs. The early modeling process of all systems is common ground for most engineering projects, creating an architecture to both understand a system and to design future iterations by applying model‐based processes has become the norm. With the concept of systems‐of‐systems (SoS) becoming common language across multiple engineering domains, model‐based systems engineering techniques are evolving hand‐in‐hand to provide a paradigm to better analyse current and future SoS. The intrinsic characteristics of the constituent systems that make up the SoS make the challenge of designing and maintaining the reliability and resilience of a systems extremely difficult. This paper proposes a novel viewpoint, within an architecture framework (based around DoDAF, MoDAF and UPDM) to aid systems architects explore and design resilient SoS. This is known as the Resilience Viewpoint. Much of the research in the area is focussed on critical infrastructure (CI), looking at telecommunication networks, electric grid, supply networks etc, and little has been done on a generalizable tool for SoS architecture analysis, especially using existing modeling languages. Here, the application of the ‘Resilience Viewpoint’ is demonstrated using a case study from an integrated water supply system of systems, to portray its potential analytical capabilities.

Australia's proactive approach to radiation protection of the environment: how integrated is it with radiation protection of humans?

Australia's regulatory framework has evolved over the past decade from the assumption that protection of humans implies protection of the environment to the situation now where radiological impacts on non-human species (wildlife) are considered in their own right. In an Australian context, there was a recognised need for specific national guidance on protection of non-human species, for which the uranium mining industry provides the major backdrop. National guidance supported by publications of the Australian Radiation Protection and Nuclear Safety Agency (Radiation Protection Series) provides clear and consistent advice to operators and regulators on protection of non-human species, including advice on specific assessment methods and models, and how these might be applied in an Australian context. These approaches and the supporting assessment tools provide a mechanism for industry to assess and demonstrate compliance with the environmental protection objectives of relevant legislation, and to meet stakeholder expectations that radiological protection of the environment is taken into consideration in accordance with international best practice. Experiences from the past 5-10 years, and examples of where the approach to radiation protection of the environment has been well integrated or presented some challenges will be discussed. Future challenges in addressing protection of the environment in existing exposure situations will also be discussed.

A Case Study of Stakeholder Dialogue in Professional Sport: An Example of CSR Engagement

AbstractMany businesses, including professional sport teams, are designing and engaging in socially responsible initiatives which benefit stakeholders as well as the businesses themselves. Gaining insight into stakeholders' expectations regarding corporations' corporate social responsibility (CSR) initiatives through dialogue is important as the way a business is viewed and evaluated by stakeholders underlies subsequent interactions. Based on semi‐structured interviews with 42 diverse stakeholders involved in a professional sport team's CSR initiative we found that stakeholders' expectations of the team's involvement in the community related to social and institutional norms, values, and benefits. The team also appeared to be meeting stakeholder expectations about being socially responsible in the community. This study provides new insights into a firm's CSR expectations through engaging in stakeholder management and interaction. Future research directions and practical suggestions are offered for organizations attempting to understand and meet stakeholders' expectations in the area of CSR.

Ethical perceptions of employees in small retailing firms: A case of indigenous-owned fast-food outlets in Zimbabwe

Background: Although the subject of ethical business practices has a well-established tradition in large corporations where shareholder value maximisation is largely dependent on such entities’ conduct of good business ethics, its investigation in small businesses in agile, economically depressed economies such as that of Zimbabwe has targeted business owners and managers but excluded their employees. Given the middleman role that employees of emerging indigenous-owned retail firms play in the distribution chain from manufacturers to the consumers, the ethical perceptions of these employees are critical to the leveraging of businesses’ strategic orientations. Employees are the coal face of the firm, withering intense competition from these firms’ rivals and achieving the firms’ strategic orientations (profitability, market share, business growth and survival). In order to meet stakeholder expectations simultaneously largely depends on the ethical conduct of such employees.Aim: The overall aim of this study is to contribute to ethical theory and literature by demonstrating how employees’ ethical perceptions and behaviour shape the strategic orientations of the business. To achieve this aim, the study sought to: (1) establish the typical ethical dilemmas that employees of these retail firms faced in their daily tasks, (2) assess how they responded to these ethical challenges, (3) ascertain whether demographic factors such as age, level of education, gender and their position in the organisational hierarchy influence their reaction to ethical dilemmas; and (4) determine these employees’ overall perceptions of ethical issues within their organisations.Setting: The study was conducted on employees of an indigenous-owned fast-food firm operating in two cities in Zimbabwe.Methods: A survey was conducted on 108 employees working in two cities. A structured questionnaire was developed and administered to the employees.Results: The results suggested that a majority of the respondents were ethically conscious and could make ethical choices. In addition, most respondents deemed the ethical scenarios presented to them as morally wrong, suggesting that the surveyed employees wished to engage in ethical behaviour. However, while the respondents were deemed to be ethically astute in their individual capacities, they seemed to lack an in-depth knowledge of the ethical policies of their organisation.Conclusion: The study concludes that owners and managers of small firms should provide interventions to cascade ethical policy to the lower ranks of the organisation to enhance the ethical perception amongst employees of these firms. The study implication is that an institutional top-down approach is critical to embedding ethical sensitivity into employees without which employees may continue to speculate about the business ethics of their organisation.

Global Family Planning Programming: Key Evaluation Findings and Recommendations

Experiential & Practice Samples As leading UN entity on SRHR, the UNFPA FP programme influences the lives of millions of individuals and couples across the globe. The independent global evaluation of this programme (2008-2013) aimed to look back (accountability) and forward (learning), making recommendations to improve policies and programming. The team used a mixed-methods evaluation design. It defined evaluation questions for eight areas of investigation, including service integration, strategic partnerships, attention for vulnerable groups, the rights-based approach and improving demand for and supply of quality FP services. Focusing on the 69 UNFPA priority countries, 12 countries were selected for case studies. Methods involved document review, two global online surveys, face to face and remote stakeholder interviews, FGDs and review of FP expenditure data. UNFPA efforts contributed to raising the global and national profile of FP. Yet sometimes there was a trade-off between being a privileged partner of government and meeting stakeholder expectations, e.g. regarding promotion of civil society’s voice. UNFPA promotes FP integration, but shows mixed results in implementing this, as staff appears to operate in “silos”. There was advocacy for a human rights-based approach to FP programming, yet efforts to put this into action were limited. UNFPA does not invest enough in organizational learning.

The effect of community consultation on perceptions of a proposed mine: A case study from southeast Australia

Consultation is the predominant method of community engagement in infrastructure development. Therefore, understanding stakeholder interactions within consultation is critical to acquiring a social licence to operate. While previous research has focused on the factors which contribute to this social licence, little work has been conducted on how mining company consultation strategies influence perception formation. We explore how stakeholder expectations and experience of consultation impact perceptions of proposed mining projects. We undertook a case study of a proposed, large-scale, mineral sands mine in rural Australia using an open and closed-question questionnaire (n =32) and semi-structured interviews (n =20). We find that there are multiple, diverging understandings of the purpose of consultation both within and between stakeholder groups. The community experience of consultation drove negative perceptions of the proposed mine due to procedural and personal factors. We find several overlaps with the renewable energy (RE) literature, including: calls for two-way communication, (mis)trust of professional stakeholders, and the need for consistent and well-timed consultation. Other factors are not as common in the RE literature, and may be more specific to mining, such as stakeholder disenfranchisement misunderstood as apathy, calls for community involvement in agenda setting, the need for careful selection of company representatives, and the importance of meeting stakeholder expectations of consultation.

Holistic School Improvement: The Journey in Australian Adventist Schools

This organisational journey traces transition from an initial recognition of an archaic ‘inspectorial model’ of school evaluation to an encompassing holistic school improvement process. A description of how the world’s best practice informed this challenge for schools to engage in further strengthening of their professional learning cultures includes the development of consultation, structures, procedures, policy and process. Key changes emerged that have resulted in a self evaluation process that is internally driven, focused on a culture of improvement and excellence (The Community of Faith and Learning), but supported by the whole system. This support is represented within A Model of Aligned Cultural Change in Adventist Schools. Three supporting development pillars—the Quality Adventist Schools Framework (QASF), Data Driven Decision-making and Quality Adventist Schools Cyclic Reviews (QASCRs)—build upon the foundational elements of purpose and resources, to support the ultimate goal of Christfocused, service-orientated, excellent student outcomes. In the rapidly changing educational context within Australia and internationally, Christian schools need to ensure they are delivering the very best educational program possible. System implementation by Adventist Schools Australia (ASA) predicts schools can successfully evaluate the extent to which they are meeting stakeholder expectations, delivering on system priorities and implementing strategic initiatives to optimise their success.

The Institutionalization of Corporate Social Responsibility Reporting

This article presents a three-stage model of how isomorphic mechanisms have shaped corporate social responsibility (CSR) reporting practices over time. In the first stage, defensive reporting, companies fail to meet stakeholder expectations due to a deficiency in firm performance. In this stage, the decision to report is driven by coercive isomorphism as firms sense pressure to close the expectational gap. In the second stage, proactive reporting, knowledge of CSR reporting spreads and the practice of CSR reporting becomes normatively sanctioned. In this stage, normative isomorphism leads other organizations to look to CSR reporting as a potential new opportunity for achieving the firm’s goals. In the third stage, imitative diffusion, the defensive reporters together with the proactive reporters create a critical mass of CSR reporters that reaches a threshold at which the benefits of CSR reporting begin to outweigh any costs due to mimetic isomorphism. The study finds support for the model in an examination of Fortune 500 firms from 1997 to 2006.

The Market for Corporate Responsibility Reporting in the Americas

AbstractThe largest corporations in the world are increasingly adopting international corporate responsibility (CR) reporting standards from organizations such as the Global Reporting Initiative to meet stakeholder expectations for reliable and comparable social and environmental performance data. At the same time, significant geographic variations in reporting rates remain. The goal of this paper is to explain the diffusion of international CR reporting standards within the Americas. Reporting rates cannot be explained fully by a country's population size or level of economic development. Based on a unique statistical analysis of the relative impact of institutional environments, corporate resources and strategic orientation, stakeholder pressures, and transnational trade and learning networks, this research concludes that the diffusion of CR reporting throughout the Americas to date has been fueled by a rather narrow set of corporations with the capacities necessary to implement CR reporting and the strategic orientation to benefit from it. Moreover, corporations' internal capacities and the external demands for CR reporting have been enhanced in select countries by national and transnational CR advocacy and training organizations. This has led to an uneven development of CR reporting thus far, and this unevenness is expected to continue even as overall reporting rates increase.

Exploring propositions about perceptions of energy security: An international survey

► Energy security analysis must extend beyond traditional themes such as security of fossil fuel supplies and the efficacy of energy markets. ► To look at energy security narrowly artificially limits the discussion and promotes energy planning and policy that fails to meet stakeholder expectations. This study investigates how energy users from government, industry, civil society, and academia perceive of energy security challenges. It also analyzes how demographic characteristics influence such perceptions, and how geography, economic structure, modes of domestic energy production, and culture shape energy security priorities. Its primary source of data is a four-part survey distributed in seven languages (English, Mandarin, Portuguese, Russian, Arabic, German, and Japanese) to 2167 respondents in Brazil, China, Germany, India, Kazakhstan, Japan, Papua New Guinea, Saudi Arabia, Singapore, and the United States. These countries were selected because they represent a mix of urban and rural populations, developed and developing economies, import- and export-oriented energy trading flows, communist and capitalist societies, liberalized and state-owned energy markets, and small and large geographic sizes. The survey results are used to test four propositions about energy security related to the education, age, occupation, and gender of respondents, as well five propositions about national energy priorities and the interconnected attributes of security of supply, energy efficiency, energy research and development, energy trade, diversification and decentralization, affordability, environmental quality, climate change, and energy governance.