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This chapter assembles the key literature on value creation for consideration in relationship to stakeholder theory. The literature review identifies and explains the core topics concerning value creation and related ideas. The purpose is to stimulate research into the theory, practice, and social consequences of value creation in a stakeholder management framework. The construct of “value” lacks theoretical precision and empirical verification. The most fundamental and disputed question addressed is which value approach for the firm best contributes to overall (aggregate) social welfare. The vital issue is whether the managerial stakeholder theory is superior, at long-run value creation for multiple stakeholders including society at large, to the conventional agency theory. Business executives and directors are the ones who choose between agency and stakeholder approaches to management. Their actions influence organizational and social outcomes. Research is limited to a literature review, followed by a discussion of the likely role of value creation theory in future stakeholder research. The chapter first defines value. The basic approach is then to focus on key topics in the relevant literature. The last section addresses the role of value creation theory in future stakeholder research.

Justice rules are standards that serve as criteria for formulating fairness judgments. Though justice rules play a role in the organizational justice literature, they have seldom been the subject of analysis in their own right. To address this limitation, we first consider three meta-theoretical dualities that are highlighted by justice rules – the distinction between justice versus fairness, indirect versus direct measurement, and normative versus descriptive paradigms. Second, we review existing justice rules and organize them into four types of justice: distributive (e.g., equity, equality), procedural (e.g., voice, consistent treatment), interpersonal (e.g., politeness, respectfulness), and informational (e.g., candor, timeliness). We also emphasize emergent rules that have not received sufficient research attention. Third, we consider various computation models purporting to explain how justice rules are assessed and aggregated to form fairness judgments. Fourth and last, we conclude by reviewing research that enriches our understanding of justice rules by showing how they are cognitively processed. We observe that there are a number of influences on fairness judgments, and situations exist in which individuals do not systematically consider justice rules.

Arguing that it is necessary to look into specific global leadership processes in specific contexts, this article focuses on collective global leadership in self-managed multicultural teams using an input-process-output model. Building on a study of nationally and culturally diverse self-managed teams, our work demonstrates that collective global leadership in these teams is critical for team performance (output). Our study also examines some of the affective or attitudinal antecedents of collective global leadership in self-managed multicultural teams (process) and their members’ goal orientations (input). Our findings suggest that a team learning orientation may greatly help multicultural teams overcome the liability of cultural diversity, create a positive intra-team environment, and enable collective global leadership. Our research also suggests that team performance orientation moderates the above effects.