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Article
Publication date: 28 October 2003

Philip R. P. Coelho, James E. McClure and John A. Spry

Frederick R. Post’s response (2003) to our paper (“The Social Responsibility of Corporate Management: A Classical Critique,” 2003) is factually mistaken, inconsistent, and…

Abstract

Frederick R. Post’s response (2003) to our paper (“The Social Responsibility of Corporate Management: A Classical Critique,” 2003) is factually mistaken, inconsistent, and confused over: 1) the contents of our paper, 2) how corporate capitalism works, and 3) the consequences of what he advocates. This reply discusses these points, and revisits both our critique of the stakeholder paradigm and defense of shareholder primacy.

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American Journal of Business, vol. 18 no. 2
Type: Research Article
ISSN: 1935-5181

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Article
Publication date: 22 April 2003

Philip R. P. Coelho, James E. McClure and John A. Spry

Calls for corporate social responsibility are widespread, yet there is no consensus about what it means; this may be its charm. However, it is possible to distinguish the…

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Abstract

Calls for corporate social responsibility are widespread, yet there is no consensus about what it means; this may be its charm. However, it is possible to distinguish the fi duciary obligations owed to shareholders, as expressed by Milton Friedman, from all other paradigms of corporate responsibility. Friedman maintains that: “ ...there is one and only one social responsibility of business‐to‐use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception or fraud.” All other paradigms argue that corporations have social responsibilities that extend beyond the pursuit of shareholder benefits to stakeholders. The list of cited stakeholders is ill‐defined and expanding, including non‐human animals and non‐sentient things. This paper defends the intellectual and ethical merits of fiduciary duties, and compares and contrasts it to the stakeholder paradigm. The fiduciary duty to firms’ owners is the bedrock of capitalism, and capitalism will wither without it.

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American Journal of Business, vol. 18 no. 1
Type: Research Article
ISSN: 1935-5181

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Article
Publication date: 28 October 2003

Frederick R. Post

Shareholder Theory allows management to ignore the interests of the other constituencies while pursuing its own narrow self‐interest under the guise (the ethical facade…

Abstract

Shareholder Theory allows management to ignore the interests of the other constituencies while pursuing its own narrow self‐interest under the guise (the ethical facade) of promoting the interests of the shareholder owners. The Shareholder Theory does not provide any relistic counterweight against management abuse. The Enron example strengthens the arguments for the use of Stakeholder theory and exposes the utter failure of the Shareholder Theory.

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American Journal of Business, vol. 18 no. 2
Type: Research Article
ISSN: 1935-5181

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Article
Publication date: 22 April 2003

Frederick R. Post

The preceding article, “The Social Responsibility of Corporate Management: A Classical Critique,” argues that the Shareholder Theory, which the authors refer to as the…

Abstract

The preceding article, “The Social Responsibility of Corporate Management: A Classical Critique,” argues that the Shareholder Theory, which the authors refer to as the “Friedman Paradigm” represents the only intellectually and ethically meritorious model for assessing corporate social responsibility. This response argues that the 19th Century Shareholder Theory is based upon numerous factual and legal inaccuracies and fictions when evaluated in the context of the modern era. Requiring that management serve only the interests of the shareholders is morally untenable. The authors’ assertion that the competing theory, The Stakeholder Theory, is unworkable is based upon both a misunderstanding and misinterpretation of the theory. Refinements and clarifications about who qualifies as a stakeholder make the Stakeholder Theory both workable and a very useful way to improve corporate governance. Now is the time to apply the Stakeholder Theory as part of the ongoing process of improving the moral and social responsibility of corporation management.

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American Journal of Business, vol. 18 no. 1
Type: Research Article
ISSN: 1935-5181

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Book part
Publication date: 24 April 2020

Katie Beavan

This chapter takes the form of an open feminist letter, a complaint and a manifesto presented to the Critical Management Studies (CMS) Academy. It is posted with urgency…

Abstract

This chapter takes the form of an open feminist letter, a complaint and a manifesto presented to the Critical Management Studies (CMS) Academy. It is posted with urgency at a time when Patriarchy is resurging across the globe. My complaint is against the misogyny and the moral injury done to all of us and to our participants through our detached, disembodied, non-relation, pseudo-objective, masculine ways of becoming and being CMS scholars. Drawing on the thinking of Hélène Cixous, I offer five gifts as strategies to break with the masculine reckoning and open up our scholarship to féminine multiplicity and generativity: loving not knowing, return to our material bodies, rightsizing theory, knowledge made flesh-to-flesh and women’s writing. I visit, and suggest our scholarship will benefit from visiting, Cixous’s School of the Dead and her School of Dreams. I advocate for social theatre/performative auto/ethnography as a way to effect change in organisations. Finally, I present a manifesto for women’s writing that can help take our scholarship ‘home’ and contribute to the creation of flourishing organisations. This letter is a Call to Arms.

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Article
Publication date: 1 January 1909

THERE has quite recently occurred among professional and other periodicals a sort of epidemic of comparisons between the work of European and American libraries, some of…

Abstract

THERE has quite recently occurred among professional and other periodicals a sort of epidemic of comparisons between the work of European and American libraries, some of which are more or less misleading and calculated to stir up national annoyance. The Transatlantic journals are particularly condescending in tone, and arrogant in their claims, and some statements in the New York Nation and Chicago Dial are not only written with a most lofty sense of American superiority, but are manifestly based on ignorance of library conditions in Europe. They are indeed typical of the attitude of the average American librarian towards library work outside the borders of the United States. With a few notable exceptions, American librarians are a somewhat narrow‐minded, self‐sufficient and wilfully‐ignorant class of public officials; but more especially the younger generation. They are eternally shutting their eyes to the accomplishments of other nations, and assuming that the last word on all library matters has been spoken in America. They are, for the most part, ignorant of European library literature, as none save the largest libraries ever purchase anything but American professional books. This is further proved by the absence of such works from their catalogues and from among the text‐books prescribed for the various library schools; while in all their select bibliographies or lists of “best” books the most notice‐able feature is this studied omission of European books. In the proceedings of British professional associations the work of American libraries is frequently referred to in the most appreciative and broad‐minded manner; but at similar meetings in America, European library work, if not entirely ignored, is most often casually mentioned as something quite obsolete, and a legitimate target for oblique criticism. It is difficult to understand why American librarians will not study library questions from both the historical and international standpoints, because it is such an obvious and interesting manner of freeing the mind from the fetters of a cock‐sure provincialism. That it is true no such attempt is made by the average American librarian to attain knowledge of foreign conditions, is proved by the universally accepted opinion in the United States, that there is no European library work worth attention, in comparison to the immensity of the American achievement in the same field.

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New Library World, vol. 11 no. 7
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 9 July 2019

Robert Crawford

This paper aims to trace the emergence, rise and eventual fall of Mojo-MDA. Established as a creative consultancy in 1975, Mojo embarked on an ambitious growth strategy…

Abstract

Purpose

This paper aims to trace the emergence, rise and eventual fall of Mojo-MDA. Established as a creative consultancy in 1975, Mojo embarked on an ambitious growth strategy that would see it emerge as Australia’s first multinational agency. By examining the agency’s trajectory over the 1970s and 1980s, this paper revisits the story of an Australian agency with boundless confidence to develop a more nuanced understanding of the dynamic role played by corporate culture in the agency's fortunes.

Design/methodology/approach

This study uses reports and features published in the Australian advertising trade press, along with other first-hand accounts, including oral history interviews and personal correspondence with former agency staff.

Findings

By identifying the forces and influences affecting Mojo-MDA’s outlook and operations, this paper demonstrates the important yet paradoxical role that corporate culture plays in both building and undermining an agency’s ambitions and the need for marketing historians to pay closer attention to it.

Originality/value

This examination of an agency’s inner machinations over an extended period presents a unique perspective of the ways that advertising agencies operate, as well as the forces that drive and impede them, at both national and global levels. The Mojo-MDA story also illustrates the need for marketing and business historians to pay close attention to corporate culture and the different ways that it affects marketing business and practices.

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Journal of Historical Research in Marketing, vol. 12 no. 1
Type: Research Article
ISSN: 1755-750X

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Article
Publication date: 8 January 2021

Danish Hussain, Arham Adnan and Maaz Hasan Khan

The study attempted to gauge the relative effectiveness of celebrity and product image match-up in comparison to non-celebrity attractive endorsers for two distinct high…

Abstract

Purpose

The study attempted to gauge the relative effectiveness of celebrity and product image match-up in comparison to non-celebrity attractive endorsers for two distinct high involvement situations. Also, due to the expected demographic diversity among target consumers, the study aimed at assessing the impact of respondent's age and gender on the effectiveness of image match-up.

Design/methodology/approach

Building on the three-order hierarchy model, two experiments were conducted (utilising celebrity and non-celebrity endorsers) for two high involvement hierarchies, i.e. standard learning and dissonance/attribution. Through fictitious print advertisement, the experiments assessed the effectiveness of the match-up in terms of consumer attitudes towards advertisement and brand and intentions to purchase.

Findings

The match-up consistently and significantly outperformed non-celebrity attractive endorser in case of standard learning hierarchy. The same conclusion was not established for dissonance/attribution hierarchy due to the lack of significant results. The findings also suggest that the match-up subdues the impact of consumer's gender and age on consumer attitudes only in case of standard learning hierarchy.

Research limitations/implications

The study provides interesting theoretical implication by challenging a widely held postulation about the applicability of celebrity and product match-up under high involvement.

Practical implications

The research provides the practitioners with a better understanding of important issues, mainly, whether to use a celebrity endorser and selecting the right celebrity, especially if high involvement is expected.

Originality/value

Previous research concerning celebrity endorsements has largely considered consumer involvement as unitary, i.e. either high or low. However, the multifaceted aspect of consumer involvement is well established in the field of consumer psychology. The present research, therefore, is a pioneering attempt as it studies the effectiveness of match-up for two distinct high involvement situations. Moreover, unlike the majority of previous studies that have focused on the performance of “celebrity match” versus “celebrity mismatch”, the impact of match-up was studied in comparison to a non-celebrity attractive endorser.

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Asia-Pacific Journal of Business Administration, vol. 13 no. 2
Type: Research Article
ISSN: 1757-4323

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Article
Publication date: 7 June 2013

Kara Chan, Yu Leung Ng and Edwin K. Luk

Does celebrity endorsement work and how does it work among adolescents? This article aims to identity attributes of celebrity endorsers and attributes of celebrity…

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Abstract

Purpose

Does celebrity endorsement work and how does it work among adolescents? This article aims to identity attributes of celebrity endorsers and attributes of celebrity endorsement advertisements that are most appealing to the adolescents. The article also seeks to examine adolescents' perceptions about how celebrity‐endorsement advertisements work.

Design/methodology/approach

A focus group study among 76 Chinese adolescents aged 13 to 19 was conducted. Interviewees were asked to identify the specific elements of advertisements using celebrity endorsement that were most appealing to them. They were asked to suggest how advertisements using celebrity endorsements work.

Findings

Results found that interviewees were best able to recall celebrity endorsers whom they considered attractive, funny and expressive. They identified popularity, a good image, and congruence between the celebrity's image and that of the brand as important factors for marketers to consider in selecting celebrity endorsers. A majority of the interviewees perceived that using a celebrity in an ad would increase brand awareness, attract the celebrity's fans, encourage trial, and enhance purchase confidence.

Research limitations/implications

A theoretical model on how advertisements using celebrity endorsements work from the point‐of‐view of adolescents was constructed.

Originality/value

Previous studies on celebrity endorsement have been mainly quantitative in nature. The present study adopts a qualitative methodology and fills a gap in the literature.

Details

Young Consumers, vol. 14 no. 2
Type: Research Article
ISSN: 1747-3616

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Article
Publication date: 1 May 1974

The growing range of EEC Directives and Regulations for food products, some of which have never been subject to statutory control in this country, with compositional…

Abstract

The growing range of EEC Directives and Regulations for food products, some of which have never been subject to statutory control in this country, with compositional standards, and in particular, prescribed methods of analysis — something which has not featured in the food legislative policies here — must be causing enforcement authorities and food processors to think seriously, if as yet not furiously. Some of the prescribed methods of analysis are likely to be less adaptable to modern processing methods of foods and as Directives seem to be requiring more routine testing, there is the matter of cost. Directive requirements are to some extent negotiable — the EEC Commission allow for regional differences, e.g., in milk and bread — but it has to be remembered that EEC Regulations bind Member‐states from the date of notification by the Commission, over‐riding the national law. Although not so frequently used for food legislation, they constitute one of the losses of sovereign power, paraded by the anti‐market lobby. Regulations contain usual clauses that they “shall enter into force on the day following publication in the Official Journal of the European Communities” and that they “shall be binding in their entirety and directly applicable in all Member States”.

Details

British Food Journal, vol. 76 no. 5
Type: Research Article
ISSN: 0007-070X

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