Limits to Stakeholder Influence Why the Business Case Won't Save the World

In business, does it pay to be good? Drawing from two decades of published conceptual and empirical scholarship, this book outlines the mechanisms of the business case for corporate social responsibility and demonstrates the conditions that cause good corporate acts to succeed, or fail, in turning a profit. Central to the explanation is the role of stakeholders, who are portrayed as agents who can turn corporate ''good into gold'' but lack the capacity to do so consistently. This book takes a critical perspective, noting significant limits on the ability of stakeholders to reward good corporate behavior and rein in bad corporate acts. It concludes with several ways that scholars can improve this important and popular research topic. Using arguments built from two decades of highly cited and award-winning published scholarship, Michael L. Barnett uses strong theoretical building blocks and a well-vetted critical perspective to chart the boundaries of the business case for corporate social responsibility. The original introduction organizes and integrates this world-class research into a coherent and convincing story, while the original concluding chapter takes the reader beyond the current literature and provides a path forward that can build a better business case. A multifaceted mix of conceptual and empirical work across levels of analysis (individual, firm, and industry) provides a comprehensive perspective, warts and all. This critical and approachable collection will be a key resource for management scholars, from doctoral students to senior professors, whether they seek to gain a foothold on the core topic of the relationship between business and society or wish to find a way to add to this rich literature. The book would fit as a resource in doctoral seminars and university libraries. Consulting firms and practitioners may also take interest, as they prepare for, and prepare others for, leadership roles in corporations.