William P. Jimenez, X. Xu, Emily D. Campion, Andrew A. Bennett
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Takin' Care of Small Business: The Rise of Stakeholder Influence
In this Exchange, we consider three crucial boundary conditions that Barnett, Henriques, and Husted (2020) overlooked in theirmodel of diminished stakeholder influence. Although we agree that socialmedia platforms haveweakened stakeholder influence in certain conditions, such is not the case for all firms, all stakeholders, or all situations. Drawing from sociocognitive and self-determination theories, we contend that (a) independent, owner-managed small firms present a context wherein information overload is rendered less of an issue because the information about the firmismore salient to locals;(b) stakeholders can bemotivated to influence firms via social media platforms, which facilitate the collective engagement of local community members;and (c) uncertain economic circumstances (e.g., COVID-19) activate stakeholder information searches, which often occur through social media. Together, these three conditions enhance stakeholder power and influence. We also contemplate how, even under these conditions, stakeholder influence may change over time vis-a-vis the issue-attention cycle and societalization. We conclude our Exchange with a call formore research on stakeholder influence over independent, owner-manager small businesses.
期刊介绍:
Academy of Management Perspectives (AMP) aims to provide valuable insights to current and future thought leaders, including educators, business writers, consultants, executives, policy makers, and other professionals involved in management practice and policy. The publication seeks to bridge the gap between scholarly research and practical applications by presenting evidence-based approaches to address crucial management issues.
AMP publishes research papers that employ quantitative or qualitative evidence, either from a single study or a compilation of studies within a specific field of research. The journal does not accept opinion pieces but encourages articles that focus on the implications of findings for policy and practice rather than theoretical implications.
Examples of suitable articles for publication in AMP include practitioner or policy-oriented reviews of empirical studies, descriptive articles that contribute to our comprehension of management practices and strategic approaches, and articles highlighting the practical and policy implications of evidence-based work.