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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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    File URL: http://wps-feb.ugent.be/Papers/wp_05_295.pdf
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    References listed on IDEAS

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    1. Daniel Kahneman & Dan Lovallo, 1993. "Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking," Management Science, INFORMS, vol. 39(1), pages 17-31, January.
    2. Freeman, Edward & Liedtka, Jeanne, 1997. "Stakeholder capitalism and the value chain," European Management Journal, Elsevier, vol. 15(3), pages 286-296, June.
    3. Edward Freeman, R. & Evan, William M., 1990. "Corporate governance: A stakeholder interpretation," Journal of Behavioral Economics, Elsevier, vol. 19(4), pages 337-359.
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    Cited by:

    1. repec:ibn:ibrjnl:v:10:y:2017:i:9:p:188-209 is not listed on IDEAS
    2. 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.
    3. 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.
    4. 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.
    5. repec:eee:jobuve:v:7:y:2017:i:c:p:15-20 is not listed on IDEAS
    6. Encarnacion García-Sánchez & Víctor Jesús García-Morales & Rodrigo Martín-Rojas, 0. "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. 0, pages 1-33.
    7. Nicholas Dew & Saras Sarasvathy, 2007. "Innovations, Stakeholders & Entrepreneurship," Journal of Business Ethics, Springer, vol. 74(3), pages 267-283, September.
    8. repec:eee:bushor:v:60:y:2017:i:3:p:271-283 is not listed on IDEAS
    9. 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.
    10. repec:spr:intemj:v:14:y:2018:i:2:d:10.1007_s11365-017-0436-9 is not listed on IDEAS

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    Keywords

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

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