[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/inm/ororsc/v22y2011i2p432-448.html
   My bibliography  Save this article

Creating Economic Value Through Social Values: Introducing a Culturally Informed Resource-Based View

Author

Listed:
  • Cara C. Maurer

    (Strategic Management Group, Richard Ivey School of Business, The University of Western Ontario, London, Ontario N6A 3K7, Canada)

  • Pratima Bansal

    (Strategic Management Group, Richard Ivey School of Business, The University of Western Ontario, London, Ontario N6A 3K7, Canada)

  • Mary M. Crossan

    (Strategic Management Group, Richard Ivey School of Business, The University of Western Ontario, London, Ontario N6A 3K7, Canada)

Abstract
The resource-based view (RBV) has historically privileged the firm's internal resources and capabilities, often at the exclusion of its institutional context. In this paper, we introduce a culturally informed RBV that explains how cultural elements in the firm's institutional context shape the economic value associated with a firm's strategy. We posit that a firm's institutional context may create or destroy economic value. If the strategy inadvertently becomes associated with a social issue, it poses a risk for the firm. Firms that recognize the dynamic interplay between their resources and their institutional context in the face of social issues can engage in important cultural work, and thereby preserve their strategy's economic value.

Suggested Citation

  • Cara C. Maurer & Pratima Bansal & Mary M. Crossan, 2011. "Creating Economic Value Through Social Values: Introducing a Culturally Informed Resource-Based View," Organization Science, INFORMS, vol. 22(2), pages 432-448, April.
    • Handle: RePEc:inm:ororsc:v:22:y:2011:i:2:p:432-448
    DOI: 10.1287/orsc.1100.0546
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/orsc.1100.0546
    Download Restriction: no
    File URL: https://libkey.io/10.1287/orsc.1100.0546?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Nils Plambeck & K. Weber, 2009. "CEO Ambivalence and Responses to Strategic Issues," Post-Print hal-00464009, HAL.
    2. Jay B. Barney, 1996. "The Resource-Based Theory of the Firm," Organization Science, INFORMS, vol. 7(5), pages 469-469, October.
    3. Rodolphe Durand & Hayagreeva Rao & Philippe Monin, 2003. "Institutional Change in Toque Ville: Nouvelle Cuisine as an Identity Movement in French Gastronomy," Post-Print hal-00480858, HAL.
    4. W. E. Douglas Creed & Maureen A. Scully & John R. Austin, 2002. "Clothes Make the Person? The Tailoring of Legitimating Accounts and the Social Construction of Identity," Organization Science, INFORMS, vol. 13(5), pages 475-496, October.
    5. Michael Lounsbury & Mary Ann Glynn, 2001. "Cultural entrepreneurship: stories, legitimacy, and the acquisition of resources," Strategic Management Journal, Wiley Blackwell, vol. 22(6‐7), pages 545-564, June.
    6. Joseph F. Porac & Howard Thomas & Charles Baden‐Fuller, 1989. "Competitive Groups As Cognitive Communities: The Case Of Scottish Knitwear Manufacturers," Journal of Management Studies, Wiley Blackwell, vol. 26(4), pages 397-416, July.
    7. Ron Adner & Daniel Levinthal, 2001. "Demand Heterogeneity and Technology Evolution: Implications for Product and Process Innovation," Management Science, INFORMS, vol. 47(5), pages 611-628, May.
    8. Nils Plambeck & Klaus Weber, 2009. "CEO Ambivalence and Responses to Strategic Issues," Organization Science, INFORMS, vol. 20(6), pages 993-1010, December.
    9. Gautam Ray & Jay B. Barney & Waleed A. Muhanna, 2004. "Capabilities, business processes, and competitive advantage: choosing the dependent variable in empirical tests of the resource‐based view," Strategic Management Journal, Wiley Blackwell, vol. 25(1), pages 23-37, January.
    10. Edward J. Zajac & Matthew S. Kraatz & Rudi K. F. Bresser, 2000. "Modeling the dynamics of strategic fit: a normative approach to strategic change," Strategic Management Journal, Wiley Blackwell, vol. 21(4), pages 429-453, April.
    11. Oxley, Joanne E., 1999. "Institutional environment and the mechanisms of governance: the impact of intellectual property protection on the structure of inter-firm alliances," Journal of Economic Behavior & Organization, Elsevier, vol. 38(3), pages 283-309, March.
    12. W. Richard Scott, 2003. "Institutional carriers: reviewing modes of transporting ideas over time and space and considering their consequences," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 12(4), pages 879-894, August.
    13. David L. Deephouse, 1999. "To be different, or to be the same? It’s a question (and theory) of strategic balance," Strategic Management Journal, Wiley Blackwell, vol. 20(2), pages 147-166, February.
    14. Hayagreeva Rao & Philippe Monin & Rodolphe Durand, 2003. "Institutional change in toque ville : Nouvelle cuisine as an identity movement in French gastronomy," Post-Print hal-02311672, HAL.
    15. Margaret A. Peteraf & Jay B. Barney, 2003. "Unraveling the resource-based tangle," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 309-323.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Giulia Cancellieri & Massimo Riccaboni, 2015. "From La Bohème to La Wally: How Organizational Status Affects the (Un)conventionality of Opera Repertoires," Working Papers 5/2015, IMT School for Advanced Studies Lucca, revised May 2015.
    2. Jean‐François Soublière & Christi Lockwood, 2022. "Achieving cultural resonance: Four strategies toward rallying support for entrepreneurial endeavors," Strategic Management Journal, Wiley Blackwell, vol. 43(8), pages 1499-1527, August.
    3. Daniel M. Olson & David M. Waguespack, 2020. "Strategic behavior by market intermediaries," Strategic Management Journal, Wiley Blackwell, vol. 41(13), pages 2474-2492, December.
    4. Luca Pareschi & Maria Lusiani, 2016. "What editors talk about when they talk about editors: Resisting institutional change through discourse in Italian literary field," Working Papers 4, Venice School of Management - Department of Management, Università Ca' Foscari Venezia.
    5. Sun Hyun Park & Yanlong Zhang, 2020. "Cultural Entrepreneurship in Corporate Governance Practice Diffusion: Framing of “Independent Directors” by U.S.-Listed Chinese Companies," Organization Science, INFORMS, vol. 31(6), pages 1359-1384, November.
    6. Çakmaklı, Anıl Divarcı & Boone, Christophe & van Witteloostuijn, Arjen, 2020. "Identity realization, multiple logics and legitimacy: Organizational foundings during the emergence of the Dutch accounting industry," Accounting, Organizations and Society, Elsevier, vol. 83(C).
    7. Jaime Gómez & Raquel Orcos & Henk W. Volberda, 2021. "How imitation of multiple reference groups drives the evolution of firm strategy," Review of Managerial Science, Springer, vol. 15(8), pages 2319-2350, November.
    8. Brayden G King & Elisabeth S. Clemens & Melissa Fry, 2011. "Identity Realization and Organizational Forms: Differentiation and Consolidation of Identities Among Arizona's Charter Schools," Organization Science, INFORMS, vol. 22(3), pages 554-572, June.
    9. Tammar B. Zilber, 2011. "Institutional Multiplicity in Practice: A Tale of Two High-Tech Conferences in Israel," Organization Science, INFORMS, vol. 22(6), pages 1539-1559, December.
    10. Schiller-Merkens, Simone, 2013. "Framing moral markets: The cultural legacy of social movements in an emerging market category," MPIfG Discussion Paper 13/8, Max Planck Institute for the Study of Societies.
    11. Violina P. Rindova & Luis L. Martins, 2018. "From Values to Value: Value Rationality and the Creation of Great Strategies," Strategy Science, INFORMS, vol. 3(1), pages 323-334, March.
    12. Antoaneta P Petkova, 2016. "Standing Out or Blending In? The Formation of New Firms’ Legitimacy and Reputation under Different Levels of Market Uncertainty," Corporate Reputation Review, Palgrave Macmillan, vol. 19(1), pages 22-34, February.
    13. Deborah de Lange, 2013. "How do Universities Make Progress? Stakeholder-Related Mechanisms Affecting Adoption of Sustainability in University Curricula," Journal of Business Ethics, Springer, vol. 118(1), pages 103-116, November.
    14. Brayden G. King & Teppo Felin & David A. Whetten, 2010. "Perspective---Finding the Organization in Organizational Theory: A Meta-Theory of the Organization as a Social Actor," Organization Science, INFORMS, vol. 21(1), pages 290-305, February.
    15. Washington, Marvin & Patterson, Karen D.W., 2011. "Hostile takeover or joint venture: Connections between institutional theory and sport management research," Sport Management Review, Elsevier, vol. 14(1), pages 1-12, February.
    16. Hadida, Allègre L. & Paris, Thomas, 2014. "Managerial cognition and the value chain in the digital music industry," Technological Forecasting and Social Change, Elsevier, vol. 83(C), pages 84-97.
    17. Elaine Romanelli & Olga M. Khessina, 2005. "Regional Industrial Identity: Cluster Configurations and Economic Development," Organization Science, INFORMS, vol. 16(4), pages 344-358, August.
    18. Wijnberg, Nachoem M., 2011. "Classification systems and selection systems: The risks of radical innovation and category spanning," Scandinavian Journal of Management, Elsevier, vol. 27(3), pages 297-306, September.
    19. Jennings, P. Devereaux & Greenwood, Royston & Lounsbury, Michael D. & Suddaby, Roy, 2013. "Institutions, entrepreneurs, and communities: A special issue on entrepreneurship," Journal of Business Venturing, Elsevier, vol. 28(1), pages 1-9.
    20. Grégoire Croidieu & Charles-Clemens Ruling & Bilal-Ahmed Jathol, 2017. "Complex field-positions and non-imitation: Pioneers, strangers, and insulars in Australian fine-wine," Post-Print hal-01609429, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ororsc:v:22:y:2011:i:2:p:432-448. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.