Stakeholder identification as entrepreneurial action: The social process of stakeholder enrollment in new venture emergence |
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| Affiliation: | 1. Colorado State University, United States of America;2. Western University, Canada;3. University of Victoria, Canada;4. Texas Tech University, United States of America;1. RMIT University, School of Management, Melbourne, Australia;2. Farmer School of Business, Miami University, United States of America;3. Brazilian School of Public and Business Administration (EBAPE), Fundação Getúlio Vargas, Brazil;1. Stetson School of Business and Economics, Mercer University, 1501 Mercer University Avenue, Macon, GA 31207, United States of America;2. DeGroote School of Business, McMaster University, 1280 Main Street West, Hamilton, ON L8S 4M4, Canada;1. Carroll School of Management, Boston College, 336 Fulton Hall, Chestnut Hill, MA 02467, United States of America;2. Nottingham University Business School, University of Nottingham, C47 South Building, Jubilee Campus, Nottingham NG8 1BB, UK;3. Sawyer Business School, Suffolk University, 8 Ashburton Place, Boston, MA 02108, United States of America;4. Carroll School of Management, Boston College, 550B Fulton Hall, Chestnut Hill, MA 02467, United States of America;1. Rotterdam School of Management, Erasmus University, the Netherlands;2. House of Innovation, Stockholm School of Economics, Sweden;3. Center for Family Entrepreneurship and Ownership (CeFEO), Jönköping International Business School, Jönköping University, Sweden;1. Kelley School of Business, Indiana University, United States of America;2. Price College of Business, University of Oklahoma, United States of America;3. Blank Center for Entrepreneurship, Babson College, United States of America |
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| Abstract: | There is growing interest in understanding the role of stakeholders—including financiers, employees, customers, suppliers, and communities—in the process of new venture emergence. We see potential to advance this stream of research by bridging a gap we observe between recent research on stakeholder enrollment in new ventures and longstanding research on stakeholder identification in established firms. To do so, we seek to explain why, how, and when, through social action, stakeholder identification and enrollment may (or may not) occur as an entrepreneur goes from an imagined opportunity to a new venture with enrolled stakeholders. To this end, we develop a model that conceptualizes stakeholder identification and enrollment as iterative, recursive, and constitutive social processes involving action in: refining and justifying to result in commonality with other actors; probing and positioning to result in mutuality with specific stakeholders identified; and enrolling and engaging to result in reciprocity with identified stakeholders. We argue that these social processes constitute the means through which opportunities are formed, specific stakeholders are identified, and stakes in new ventures are created and maintained, respectively. In doing so, we offer a more nuanced explanation of the dynamism implied in stakeholder identification and enrollment in emerging ventures. |
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