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How can managers reduce information asymmetry in dyadic manager-external stakeholder relationships in a complex and evolving environment? Addressing this question has significant implications for firm survival, growth, and competitive advantage.

We have adopted a multiparadigm approach to theory building, known as metatriangulation. We integrate the dynamic capabilities, sensemaking, and evolutionary theory literatures to theorize how managers can relate to stakeholders in a complex and evolving environment.

We propose, via a conceptual framework and three propositions, “evolutionary sensemaking” as the managerial metacognitive dynamic capability that helps managers hone their understanding based on the evolutionary changes in the stakeholder’s interpretations of information quality preferences. The framework unfolds across three evolutionary stages: sensing preferences' variation of the stakeholder, seizing preferences, and transforming for complexity alignment and retention. The propositions focus on managing complexity in stakeholder information quality preference, employing cognitive capabilities to simplify, interpret, and align interpretations for effective information asymmetry reduction.

To develop the metacognitive dynamic capability of evolutionary sensemaking, managers need to train for and foster the underlying complex cognitive capabilities by enhancing their (1) perception and attention skills, (2) problem-solving and reasoning skills, and (3) language, communication, and social cognition skills, focusing specifically on reducing the complexity embedded in stakeholder cognition and diverse stakeholder preferences for information quality. Contrary to the current advice to “keep things simple” and provide “more” information to the stakeholders for opportunism reduction, trust-building, and superior governance, our framework suggests that managers hone their cognitive capabilities by learning to deal with the underlying complexity.

The proposed framework and propositions address research gaps in reducing information asymmetry. It enriches the dynamic capabilities literature by recognizing complexity (as opposed to opportunism) as an alternative source of information asymmetry, which needs to be addressed in this stream of research. It extends the sensemaking literature by identifying the complexity sources – i.e. stakeholder preferences for diverse information quality attributes and the associated cognitive preference interpretation processes. The article enhances evolutionary theory by delving into microprocesses related to information asymmetry reduction, which the existing literature does not thoroughly investigate.

Paul and Sandra are the founders of Basooh Coin Laundry Sdn Bhd. It is an authorised distributor from Gem laundry system world No.1 in commercial laundry manufactured and laundry equipment (a famous coin self-service laundry) in Malaysia. The case study is about John Sooh and Tasha, the founders of Basooh Coin Laundry Sdn Bhd. John established his coin laundry business after several failed businesses. The idea of a coin laundry business was from his wife, Tasha, who thought about the idea on the day their second son was born. This case highlights the dilemma John faced in the hopes to expand his business. His ultimate goal is to head into the digitalisation world where the main focus is to cultivate innovation in their business to improve their customer service. However, John has trouble getting suitable investors on board to date.

After the dilemma at the crossroad of selling the family business and retire or take over from the shareholders in 2005, Andy Makmur was again thinking about his retirement in 2011. Now 70 years old, he was over the average retirement age and still commuting between Indonesia and Singapore for business operations and family. Glopac Chemical had been gradually improving financially since the takeover in 2005, with the help of Andy's two offsprings, John and Victoria. The joint force of John looking after the business development and Victoria on management control systems was a perfect combination in turning Glopac Chemical from making loss to profiting. However, recent developments had led to misunderstanding between John and Victoria, where they were on non-talking terms except communicating on work matters. This was a major headache for Andy, as he couldn't leave his life time's work to his offsprings who would not talk to each other.

Taking the element of saving face into account, this chapter uses LJN Resources as an example, specifically the communication pattern between the manager, Mr John (Gen Y category), and the founder, Mr Lim (Baby Boomers category), in which the son-in-law and father-in-law relationship complicates the communication dynamics. Communication exchange in the western versus eastern society is explained. Utilising lifespan development perspective as the framework, communication among employees of different ages in family business is examined, particularly those at the establishment stage versus maintenance stage. Application of two models of communication in choice theory, namely (a) caring habits replacing deadly habits and (b) circle of strength replacing triangle of pain, is being discussed.

The Scottish Enlightenment, which gave birth to classical liberal thought and political economy, developed out of a strong theological tradition and was marked by significant theological conflict. Most people understand the Scottish Enlightenment through the works of David Hume, Adam Smith, and their intellectual circle of Moderate clergy and literati. Though this group represents the dominant strain of thinking in the Scottish Enlightenment, one should not neglect other important contributions made by more orthodox clergy and literati. Comparing the ideas of less well-known, but leading figures of the Moderate and the orthodox literati, Hugh Blair and John Witherspoon, reveals different views on doctrines related to salvation, human nature, and God’s providence, as well as on the nature of moral judgment and education. These differences provide important context for understanding the ideas and arguments of more influential philosophers like Smith and Hume.

The rise of the regulatory state during the Gilded Age was closely associated with the development of institutionalist ideas in American academia. In their analysis of the emergent regulatory environment, institutionalists like John Commons operated with a fundamentally marginalist theory of value and distribution. This engagement is a central explanation for the ultimate ascendancy of neoclassical economics, and the limitations of the regulatory environment that emerged in the Progressive Era. The eventual rise of the Chicago School and its deregulatory ambitions did constitute a rupture, but one achieved without rejecting preceding conceptions of competition and value. The substantial compatibility of the view of markets underlying both the regulatory and deregulatory periods is stressed, casting doubt about the transformative potential of the resurgent regulatory impulse in the New Gilded Age.

In this paper, the philosophy of John Rawls, known as “Justice as Fairness,” is discussed. This philosophy examines the responsibilities social actors hold toward their societal organizations. From an Islamic perspective, justice is pivotal in safeguarding collective interests, aligning with Rawls' conviction that just societies nurture happiness and foster well-being across various life aspects. To achieve customer welfare, our viewpoint underscores the importance of justice in reflecting on consumer well-being from both Rawls’ theory and Islamic perspectives.

We adopt a conceptual approach where secular views of Rawls’ “Theory of Justice” are merged with the Islamic view, resulting in novel insights regarding the hermeneutics involved in the notion of justice and the preservation of consumer well-being.

Our analysis reveals that John Rawls' “A Theory of Justice” aligns with the Islamic perspective in several respects yet diverges in others, notably in the concepts of pre-creation consciousness and divine guidance. These distinctions are emphasized in our paper.

Our paper presents a perspective on justice founded on the concepts of the “Original Position” and the “Veil of Ignorance.” The commentary explores consumer well-being by integrating Rawls' principles with an analysis that elucidates the role justice plays in enhancing societal welfare.

The records surrounding the assassination of President John F. Kennedy (JFK) have been subject to unique treatment in their management and opening. The John F. Kennedy Assassination Records Collection Act of 1992 (JFK Records Act) mandated that the records would be opened in full by 2017, unless there was intervention from the sitting president. This study aims to examine the extent to which access to the JFK assassination records has been granted. It evaluates how open the archive is, and the consequences of withholding government records. It examines how the continued non-disclosure of this archive has helped to fuel the controversy and conspiracy theories surrounding Kennedy’s death.

This research was approached as traditional historical document analysis, reviewing the JFK assassination records releases from 2017–2018 and the broader landscape of access to information in America. A random sampling of the open and redacted records was used to undertake a statistical analysis on the amount of information that has been withheld. It was supplemented with freedom of information requests intended to reveal further information on the approach taken to redaction. The work was situated within a broader global literature review.

The research identified the limits to access to the JFK assassination records that exist because of the continued postponement and redaction of information by US federal government agencies. It found that the ambiguous language used for exemptions in the US Freedom of Information Act (FOIA) and the JFK Records Act has allowed agencies the freedom to interpret and limit access to information if they desired. Furthermore, agencies have had the power to hold and sanitise their own records. The work identifies how these approaches have caused questions, inconsistences, a lack of transparency and accountability in the US government. The lack of centralised processes and related explanations can be seen to fuel further controversies and conspiracies.

Using a systematic research methodology, this work presents a careful analysis of the varying processes and their implications for understanding of the events that surrounded Kennedy’s assassination. Lessons learnt can be applied to the general management of freedom of information and access to information.

This study is a radical interactionist analysis of family conflict. Drawing on both a negotiated order perspective and Athen's theory of complex dominative encounters, this study analyzes the role that domination plays in conflicts among intimates. As the family engages in repeated conflicts over roles, the family also engages in negotiations over the family order, what role each party should play, interpretations of past events, and plans for the future. These conflicts take place against a backdrop of patriarchy that asymmetrically distributes power in the family to determine the family order. The data from this study come from a content analysis of mothers with substance use problems as depicted in the reality television show Intervention. The conflicts in these families reveal that these families develop a grinding family order in which families engaged in repeated conflict but also continued to operate as and identify as a family. These conflicts are shaped by and reinforce patriarchal expectations that mothers are central to family operation. The intervention at the end of each episode offered an opportunity for the family to engage in a concerted campaign to try to force the mother into treatment and reestablish the family order.

The goal of this chapter is to reexamine the nature and structure of the military–industrial complex (MIC) through the works of John Kenneth Galbraith. MIC, or military power as he prefers, is a coalition of vested interests within the state and industry that promoted the military power in the name of “national security” for their interests. Galbraith’s theory of giant corporations helps us understand the role of military corporations in the MIC. Moreover, he is a critical scholar in examining this topic because he was a political insider in the Roosevelt, Kennedy, and Johnson administrations and a prominent public intellectual against the Vietnam War. Against this background, this chapter has three parts. After explaining the development of military Keynesianism with respect to the main economic thoughts, it examines the history of the MIC and its impact on economic priorities during and after the Cold War through Galbraith’s works. Finally, this chapter discusses MIC’s relevancy today and evaluates Galbraith’s prophecies.