The main research question of the study is this: Is the firm embedded into ecology, society, and governance (ESG), or vice versa? Using the resource‐based view as a theoretical lens, and stakeholder ...capitalism as a paradigm anchored in the Dashgupat Review, we demonstrate in a panel data over 26 years that at the firm level, the relationship between sustained competitive advantage and the ESG footprint is concave shaped, and the impact inequality multiple gaps of the ESG footprint are 4.75 times the providing capacity of the natural and business environment. To solve the common method variance, endogeneity, and unobserved heterogeneity, system GMM is used as a method in a dataset of US manufacturing firms from 1992 to 2019. At the end, we argue that extant attributes of a resource base for sustained competitive advantage have an inherent flaw anchored in the resource‐based view, as they ignore the “environmental, social, and governance (ESG) friendliness” attribute of a resource. Managers need to rethink the objective of their firms if they want to survive in the new ESG‐friendly economy with stakeholder supremacy.
Research Summary
We develop a structural theory of power to explain how an organization is indirectly influenced by others through intermediaries. Our theory begins by explaining why an organization ...can improve its power position by acquiring partners that have direct advantages over it. We then propose the construct of indirect disadvantage to explain why an organization is motivated to acquire other partners that have advantages over its powerful partners. We further predict that the organization is motivated to acquire non‐partners to gain two‐step leverage over powerful partners. Finally, we theorize that the total indirect disadvantage of an organization relative to all partners negatively influences its performance. Using an extensive dataset on American businesses (1997–2007), we find strong support for our theory at both industry‐industry and firm‐industry levels.
Managerial Summary
Powerful buyers and suppliers are major influencers of the bottom line. This study develops a new theory to explain how to deal with them effectively, especially through mergers and acquisitions. In addition to considering powerful exchange partners as acquisition targets, firms can seek to exercise indirect influence over them through others. Acquiring other partners or non‐partners that have control over powerful buyers and suppliers is often feasible and effective in dealing with those organizations and improving the firm's financial position. Our analysis of a very large sample of American businesses over a decade not only provides clear evidence that supports our theory but also highlights the substantial competitive advantages enjoyed by firms that exercise indirect sources of influence over major exchange partners.
Basic theory suggests that multinational enterprises (MNEs) succeed when they develop knowledge-based capabilities, often called firm-specific advantages (FSAs). In China’s case its large MNEs have ...few such knowledge based FSAs. Instead, they are building scale economies based on China’s country-specific advantages (CSAs) in relatively cheap labor and natural resources. Thus, China’s MNEs will likely become knowledge seekers as they go abroad, not knowledge takers. Unlike Western MNEs who transfer knowledge and technology through their FSAs, China’s MNEs will lack such FSAs for some years to come. While China’s MNEs will have difficulty in sustaining their initial forays abroad, it is likely that they will expand intra-regionally rather than globally and in a similar manner to other large multinationals.
Instrumental stakeholder theory considers the performance consequences for firms of highly ethical relationships with stakeholders, characterized by high levels of trust, cooperation, and information ...sharing. While research suggests performance benefits, an obvious question remains: If instrumental stakeholder theory–based stakeholder treatment is so valuable, why isn’t it the dominant mode of relating to stakeholders? We argue that the existing instrumental stakeholder theory literature has three shortcomings that limit its ability to explain variance in performance. (1) Little theory exists around how instrumental stakeholder theory–based stakeholder management could provide sustainable competitive advantage. (2) The literature has largely neglected the potential downsides (i.e., costs) associated with pursuing these sorts of stakeholder relationships. (3) There is a paucity of theory on the contexts in which the incremental benefits of instrumental stakeholder theory–based stakeholder relationships are most likely to exceed the costs. As our primary contribution, we develop a theoretical path from a communal sharing relational ethics strategy—characterized by an intention to rely on relational contracts, joint wealth creation, high levels of mutual trust and cooperation, and communal sharing of property—to a close relationship capability, which we argue is valuable, rare, and difficult to imitate and, thus, a potential source of sustainable competitive advantage. We also consider the potential costs of achieving this capability and identify contexts in which the resulting relationships are likely to have the greatest net value.
This paper presents a study on the role of innovation resources, innovation capabilities, and especially the mediating role of responsible innovation in increasing sustainable competitive advantage ...(SCA) of enterprises in the competitive environment. This study is quantitative research that is applied in 1-5-star hotels in Hanoi, Vietnam. Research results indicate that innovation resources have positive effects on product and process innovation capabilities, responsible innovation, and SCA; Product and process innovation capabilities have positive effects on responsible innovation; Responsible innovation has a positive effect on SCA and plays the mediating role that strengthens the positive effect of innovation resources and innovation capabilities on SCA. These results make a theoretical contribution in providing empirical evidence demonstrating the important role of innovation resources, innovation capabilities, and especially responsible innovation. Therefore, useful information is delivered to managers to create innovation resources, strengthen innovation capabilities, and responsible innovation to increase enterprises’ SCA.
Veterinary nursing embraces a wide variety of skills and, traditionally, VNs cover many different areas in their day-to-day jobs. However, for a veterinary nurse to be able to specialise their work ...into one particular area has many advantages. The foremost advantage for most specialised nurses is the increased job satisfaction gained by being able to focus on something that they particularly enjoy. Another significant advantage is the improved patient care offered, as specialised skills develop and specialised teams with like-minded colleagues are built, standardising care at a high level.
Buckley et al.’s (J Int Bus Studi 38(4):499–518, 2007) pioneering work concluded that the determinants of outward foreign direct investment (OFDI) from China were similar to those observed in ...developed countries – but with a few modifications. In this commentary, we suggest continuing their effort to understand what is distinctive about Chinese multinational enterprises (CMNEs). We look for underlying explanations that are analytically useful and potentially generalizable, unlike a firm’s nationality, which is a catch-all variable with no analytical value. Based on prior research and Ramamurti (Glob Strategy J 2(1):41–47, 2012a), we argue that the following variables help explain distinctive aspects of CMNE internationalization: (1) their “stage of evolution as a multinational enterprise,” with most CMNEs being infant MNEs rather than mature MNEs; (2) the “global context for internationalization,” which has helped CMNEs internationalize faster than it was possible in earlier decades; (3) “government-created advantages,” which complemented China’s natural endowments and for the most part improved CMNEs’international competitiveness; and (4) “leapfrogging advantage,” which allowed late-mover Chinese firms to gain a competitive advantage in smokestack industries and some sunrise industries. These variables may also explain the behavior of MNEs from other emerging economies and are therefore candidates for inclusion in general models of the internationalization process.
Diese Definition verwendet ebenfalls die Vereinigung der deutschen Führungskräfteverbände (United Leaders Association) in ihren Fragebögen, die sie an ihre Mitglieder versendet hat. In der ...angloamerikanischen Forschung werden bereits zusammenfassend »Flexible Work Arrangements«12 oder »Alternative Work Arrangements«13 untersucht. Bei der Nutzung der flexiblen Arbeitsmodelle nach Geschlecht fällt auf, dass weibliche Führungskräfte mehr Gebrauch von Teilzeit, Jobsharing, Elternzeit, Sabbaticals, Pflegezeit und Homeoffice machen als männliche Führungskräfte (vgl. Überwiegend als eher/sehr ungeeignet wurde Jobsharing (41,5 %) und Sabbaticals (36,1 %) beurteilt.
Research Summary
We apply a resource‐based view to investigate how the adoption of Artificial Intelligence (AI) affects competitive capabilities and performance. Following prior work on using chess ...as a controlled setting for studying competitive interactions, we compare the same players’ capabilities and performance across conventional, centaur, and engine chess tournaments. Our analysis shows that AI adoption triggers interrelated substitution and complementation dynamics, which make humans’ traditional competitive capabilities obsolete, while creating new sources of persistent heterogeneity when humans interact with chess engines. These novel human‐machine capabilities are unrelated, or even negatively related, to traditional capabilities. We contribute an integrated view of substitution and complementation, which identifies AI as the driver of these dynamics and explains how they jointly shift the sources of competitive advantage.
Managerial Summary
AI‐based technologies increasingly substitute and complement humans in managerial tasks such as decision making. We investigate how such change affects the sources of competitive advantage. AI‐based engines’ adoption in chess allows us to investigate competitive capabilities and performance in human, AI, and hybrid settings. We find that neither humans nor AI in isolation explain performance differences in the AI and hybrid settings. Instead, a new decision‐making resource emerges at the human‐AI intersection, which drives performance but is unrelated or even negatively related to humans’ original capability. Our results document how AI adoption changes the sources of competitive advantage and, in turn, requires managers to develop new capabilities to stay relevant in an AI‐based competitive landscape.
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