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Network Perspective On Stakeholder Management: Facilitating Entrepreneurs In The Discovery Of Opportunities

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  • W. VANDEKERCKHOVE
  • N. A. DENTCHEV

Abstract

The problem of opportunity discovery is central in the entrepreneurial activity. Cognitive limitations determine the search and the analysis of information, and as a consequence constrain the identification for opportunities. Moreover, typical personal characteristics – locus of control, need for independence, and need for achievement – suggest that entrepreneurs would take a central position in their stakeholder environments and as a consequence fail to adapt the complexity of stakeholder relationships in their entrepreneurial activity. We approach this problem from a network perspective on stakeholder management. We propose a heuristic of stakeholder analysis, which requires two mappings of the entrepreneurial constituents. The first mapping focuses on current interactions between the entrepreneur and his/her stakeholders, while the second focuses on a specific issue and the stakeholders that constitute it. In effect, such a stakeholder analysis requires entrepreneurs to use the complexity of stakeholder relations in order to breach their cognitive limitations and thus facilitate them in the discovery of new opportunities. This has clear implications for the ethics and the activity of entrepreneurs, as we will argue.

Suggested Citation

  • W. Vandekerckhove & N. A. Dentchev, 2005. "Network Perspective On Stakeholder Management: Facilitating Entrepreneurs In The Discovery Of Opportunities," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/295, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:05/295
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    Cited by:

    1. Wei Jiang & Aric Xu Wang & Kevin Zheng Zhou & Chuang Zhang, 2020. "Stakeholder Relationship Capability and Firm Innovation: A Contingent Analysis," Journal of Business Ethics, Springer, vol. 167(1), pages 111-125, November.
    2. Oluyomi A. Osobajo & David Moore, 2017. "Who is Who? Identifying the Different Sub-groups of Secondary Stakeholders within a Community: A Case Study of the Niger Delta Region of Nigeria Communities," International Business Research, Canadian Center of Science and Education, vol. 10(9), pages 188-209, September.
    3. Jiewang Chu & Jiaxuan Li, 2022. "The Composition and Operation Mechanism of Digital Entrepreneurial Ecosystem: A Study of Hangzhou Yunqi Town as an Example," Sustainability, MDPI, vol. 14(24), pages 1-19, December.
    4. Tanja Lepistö & Tiina Mäkitalo-Keinonen & Tiina Valjakka, 0. "Opportunity recognition in a hub-governed network – insights from garage services," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-24.
    5. Mitchell, J. Robert & Israelsen, Trevor L. & Mitchell, Ronald K. & Lim, Dominic S.K., 2021. "Stakeholder identification as entrepreneurial action: The social process of stakeholder enrollment in new venture emergence," Journal of Business Venturing, Elsevier, vol. 36(6).
    6. John Thomas & Theodore Poister, 2009. "Thinking About Stakeholders of Public Agencies: The Georgia Department of Transportation Stakeholder Audit," Public Organization Review, Springer, vol. 9(1), pages 67-82, March.
    7. Klyver, Kim & Steffens, Paul & Lomberg, Carina, 2020. "Having your cake and eating it too? A two-stage model of the impact of employment and parallel job search on hybrid nascent entrepreneurship," Journal of Business Venturing, Elsevier, vol. 35(5).
    8. Ornella Papaluca & Mario Tani & Ciro Troise, 2020. "Entrepreneurship and Sustainability in Tourism: An Interpretative Model," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 10(1), pages 1-38, July.
    9. Nerine Mary George & Vinit Parida & Tom Lahti & Joakim Wincent, 2016. "A systematic literature review of entrepreneurial opportunity recognition: insights on influencing factors," International Entrepreneurship and Management Journal, Springer, vol. 12(2), pages 309-350, June.
    10. Leonidou, Erasmia & Christofi, Michael & Vrontis, Demetris & Thrassou, Alkis, 2020. "An integrative framework of stakeholder engagement for innovation management and entrepreneurship development," Journal of Business Research, Elsevier, vol. 119(C), pages 245-258.
    11. Pollack, Jeffrey M. & Barr, Steve & Hanson, Sheila, 2017. "New venture creation as establishing stakeholder relationships: A trust-based perspective," Journal of Business Venturing Insights, Elsevier, vol. 7(C), pages 15-20.
    12. Encarnacion García-Sánchez & Víctor Jesús García-Morales & Rodrigo Martín-Rojas, 2018. "Analysis of the influence of the environment, stakeholder integration capability, absorptive capacity, and technological skills on organizational performance through corporate entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 14(2), pages 345-377, June.
    13. Nicholas Dew & Saras Sarasvathy, 2007. "Innovations, Stakeholders & Entrepreneurship," Journal of Business Ethics, Springer, vol. 74(3), pages 267-283, September.
    14. Chen, Jiawen & Liu, Linlin, 2020. "Customer participation, and green product innovation in SMEs: The mediating role of opportunity recognition and exploitation," Journal of Business Research, Elsevier, vol. 119(C), pages 151-162.
    15. Kuratko, Donald F. & McMullen, Jeffery S. & Hornsby, Jeffrey S. & Jackson, Chad, 2017. "Is your organization conducive to the continuous creation of social value? Toward a social corporate entrepreneurship scale," Business Horizons, Elsevier, vol. 60(3), pages 271-283.
    16. Jan Lepoutre & Aimé Heene, 2006. "Investigating the Impact of Firm Size on Small Business Social Responsibility: A Critical Review," Journal of Business Ethics, Springer, vol. 67(3), pages 257-273, September.
    17. Liu, Yipeng, 2020. "The micro-foundations of global business incubation: Stakeholder engagement and strategic entrepreneurial partnerships," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    18. Virginie Noireaux & François Cassière & Joseph Edzengte Edzengte, 2020. "Stratégie collective logistique des agriculteurs : une difficile équation," Post-Print hal-03420581, HAL.
    19. Tanja Lepistö & Tiina Mäkitalo-Keinonen & Tiina Valjakka, 2019. "Opportunity recognition in a hub-governed network – insights from garage services," International Entrepreneurship and Management Journal, Springer, vol. 15(1), pages 257-280, March.

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    Keywords

    business ethics; entrepreneurship; network perspective; opportunity identification; stakeholder management;
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