The purpose of the study for learning log –Activity 3.7 was conducting a literature search for suitable papers on stakeholder theory. During the study I used common rules for searching literature: * scoping (and context) (Collins and Hussey, 2008); for scoping I usually looking for a last ten-five years literature * key word(s) searching in present I used words such as ‘Globalization”, “Sustainability, etc. * refining the search on stakeholder theory. I selected articles from journals in ABS (Association of Business Schools) list rated level “3” and “4” only. (ABS,2012) During this log I passed some stages:
* search literature on the stakeholder theory
* review the literature
* select articles
Thus, my search began with a preference for articles on the fundamentals of the theory, and I took the following steps: Typed keywords “Stakeholder Theory” in Google Scholar, which is an academically orientated search engine. Result was 183,000 articles. Downsized list by paying attention to articles on the theory’s fundamentals published in the period 1995- 2012. Then, I selected the most popular in the list, which is The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications written by Donaldson and Preston in January 1995, published in the Academy of Management Review with 4469 times cited on record. (Table 1)
Table 1: Article one information
Why I have chosen this article? According to ABS list the Academy of Management Review is rated the world class ʻ4ʼ. (ABS, 2012) The authors of the selected articles are fundamentalists on the justification on normative theory.” Donaldson and others implied that business needs a normative justification” (Freeman 2008, p.163) Donaldson and Preston (1995) clearly distinguishes the three theories inherent in stakeholder theory (namely: normative, descriptive or analytical, and instrumental), but points out the central role of the normative. As the moral and philosophical fiber of the theory, the normative answers to issues on the company’s responsibilities to the stakeholders. Proper perspective of stakeholders’ interests and the company’s strategic interests hinge on it, and is the basis for definite and decisive rules on how the company should operate. The Library’s eResource webpage is unique online resource provided by University School of Management. I explore the eJournal databases via Business Source Complete. Why I used this engine?
My second search was prompted by global perspective of business activity. Globalization is a process of social change in the macro level affecting all aspects of business and most used keyword today in search engines. (Scherer and Palazzo, 2009) I typed keywords “Globalization and Stakeholder Theory” in Business Source Complete, as result showed 999 articles, then downsized list by adding “normative” to the previous key-phrase and limit period of published dates: 2007-2012 and consider scholarly peer reviewed. To minimize results, I added theory to the key words. See Table 2 below on Search History. Table 2Search N| Search Terms| Search Options | Actions | S3 | TX stakeholder theory AND TX globalization AND TX normative AND TX theory | Limiters - References Available; Scholarly (Peer Reviewed) Journals; Published Date from: 20070101-20121231 | View Results (194)|
On a stakeholder theory responsive to globalization issues, Jensen & Sandström (2011) discussed the crucial role of corporate social responsibility. The traditional model of CSR was based on the separation of political and economic responsibilities. However, with the introduction of globalization, business firms take on political roles in carrying out social responsibilities, turning public and private actors into political players. This calls for the CSR’s task of retuning the standards of global business....