With a Little Help From My Friends: Stakeholder Management, External Knowledge Sourcing, and Innovation
Type
conference paper
Date Issued
2016-09-20
Author(s)
Abstract
Knowledge disclosure theory explains why firms benefit from stakeholder management (SM), arguing that managing for stakeholders provides firms with superior access to stakeholders’ knowledge, which in turn can allow for superior innovation performance. In light of mounting empirical evidence for substantial inter-firm heterogeneity in the performance implications of managing for stakeholders, we expand knowledge disclosure theory to explain why some firms benefit more from SM than others. To this end, we extend this theory with arguments from the external knowledge sourcing literature. Our extension suggests that firms will benefit more from SM when external knowledge sourcing is a central element of their innovation strategy and when they manage for both external and internal stakeholders. Unique data from approximately 240 European firms broadly supports this extension.
Language
English
HSG Classification
contribution to scientific community
HSG Profile Area
SoM - Business Innovation
Book title
Relationships with and Management of Stakeholders
Publisher
SMS Strategic Management Society
Publisher place
Chicago, IL
Pages
7
Event Title
Strategic Management Societiy (SMS) 36th Annual International Conference
Event Location
Berlin
Event Date
17.-20.09.2016
Subject(s)
Division(s)
Eprints ID
249652