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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.

This study aims to examine the impact of leadership development programs on organizational outcomes and organizational effectiveness.

Using a grounded theory approach, semi-structured interviews were conducted with 15 executive leaders from aviation firms in Brazil with employees participating in a leadership development program. NVivo12 was used for coding and managing the data. Thematic analysis was performed to determine themes and categories.

The leadership development program was found to influence organizational level outcomes identified as themes of internal impact, external impact, skill development and capacity. The interviews also found that executive leaders perceived the leadership development program to impact organizational effectiveness. Connections to human capital, social capital and collective leadership were found as outcomes of the leadership development program contributing to organizational effectiveness.

The findings are dependent upon the executive leaders’ interviews and are limited sample size. The protocol of subjective inter-coder reliability was followed supporting the credibility and dependability of the findings; however, researcher bias may still be present in qualitative studies. Generalizability outside of the Brazilian aviation context is cautioned until further studies in additional contexts and industries are completed.

The findings of this study support leadership development programs as impactful on organizational outcomes and effectiveness. Incorporating leadership development programs as part of human capital management strategies supports organizational effectiveness through increased collective leadership capacity, human capital development and social capital.

A large amount is known regarding the outcomes for individuals as a result of leadership development programs with less examination on the contribution to organizational level outcomes and organizational effectiveness. This study aids in bridging this gap.

The type of social capital among families involved in business, or family social capital, has both positive and negative effects on family firms. This paper aims to investigate the mediating role of social relationships of family business members between socioemotional wealth (SEW) and firms' entrepreneurial orientation.

The authors applied a survey conducted in the four main cities in Mexico. The sample consisted of 360 small and medium enterprise (SMEs). This study's research framework and hypothesis were tested using regression analysis and the structural equation modeling technique.

This study finds that not only does SEW strongly influence the entrepreneurial orientation of family firms, but this influence is also mediated by the capability of such families to develop their social capital.

The results show the perspective of one person in the company. Though it is the person with the highest rank and presumably the person who thoroughly knows the company, there is always a possibility of bias, which may inflate the results presented in this paper.

Based on this study's results, family firms should continuously improve their entrepreneurial abilities to achieve sustainable competitive advantage. In addition, their unique family-related characteristics further enhance these strategic approaches' positive effects on relational capital development.

This work contributes to the academic literature on entrepreneurship and social capital. As a mediator between SEW and entrepreneurial orientation, family relational capital has been under-researched. The results of this study reveal significant implications for networking management and relational capital strategies for SMEs.

Las relaciones y conexiones de las familias involucradas en los negocios, o capital social familiar, tienen efectos tanto positivos como negativos en las empresas familiares. Este artículo investiga el papel mediador de las relaciones sociales de los miembros de la empresa familiar entre la riqueza socioemocional y la orientación empresarial de las empresas.

Se aplicó una encuesta realizada en las cuatro principales ciudades de México. La muestra estuvo compuesta por 360 pymes. El marco de investigación y la hipótesis de este estudio se probaron mediante análisis de regresión y la técnica Structural Equation Modeling (SEM).

Nuestro estudio encuentra que la riqueza socioemocional no solo influye fuertemente en la orientación emprendedora de las empresas familiares, sino que este factor también está mediado por la capacidad de dichas familias para desarrollar su capital social.

Este trabajo contribuye a la literatura académica sobre emprendimiento y capital social. Como mediador entre la riqueza socioemocional y la orientación emprendedora, el capital relacional familiar ha sido poco investigado. Nuestros resultados revelan implicaciones significativas para la gestión de redes y las estrategias de capital relacional para las Pymes.

As relações e conexões das famílias envolvidas nos negócios, ou capital social familiar, têm efeitos positivos e negativos nas empresas familiares. Este artigo investiga o papel mediador das relações sociais dos membros da empresa familiar entre a riqueza socioemocional e a orientação empreendedora das empresas.

Foi aplicado um inquérito realizado nas quatro principais cidades do México. A amostra foi constituída por 360 PME. A estrutura de pesquisa e a hipótese deste estudo foram testadas usando análise de regressão e a técnica de Modelagem de Equações Estruturais (SEM).

Nosso estudo conclui que a riqueza socioemocional não apenas influencia fortemente a orientação empreendedora das empresas familiares, mas que esse fator também é mediado pela capacidade dessas famílias de desenvolver seu capital social.

Este trabalho contribui para a literatura acadêmica sobre empreendedorismo e capital social. Como mediador entre a riqueza socioemocional e a orientação empreendedora, o capital relacional familiar tem recebido pouca pesquisa. Nossos resultados revelam implicações significativas para a gestão de rede e estratégias de capital relacional para PMEs.

Purpose – The purpose of this chapter is to encourage strategy and management researchers to undertake research that captures the relational, unfolding and emergent processes of organizational life.

Methodology/Approach – The wayfinding method weaves concepts from traditional navigation with the wider body of strategy and management research literature. An illustrative case example is presented.

Findings – Six orientations informed by an Indigenous Māori research experience are presented under a trilogy of compass, conduct and contours. These orientations are dynamic dwelling, perceiving process, applying values, making connections, layering up, and expanding validity.

Practical implications – This study will aid researchers’ cultivation of greater methodological dexterity through insights that can assist with adopting a relational approach.

Social implications – The chapter shows how a holistic and relational mode of strategy and management research can help address the rising demand for more sustainable enterprises that create wealth and well-being.

Originality/Value – The chapter provides valuable insights from Indigenous wayfinding for strategy researchers and the organizations they work with.

The authors do not claim that the following represents the views of any one tribe but instead the culmination of the academic literature written on the topic. Marketing’s current Western dominant social paradigm (DSP) is said to perpetuate “green”, yet unsustainable practices. The DSP does not support strictly pro-environmental practices and its proposed alternative, the new environmental paradigm (NEP), lacks in-depth conceptualisation, especially concerning business and marketing activities. However, the two paradigms contrast so much that a shift from one to the other is vehemently argued against and conceptually rife with problems. This paper aims to expand upon the merits of the NEP using indigenous people’s environmental philosophies [1] – as examples of historically supported and successful sustainable philosophies. It conceptualises a Relational view to provide a more practical alternative to the DSP and includes propositions for marketing implementation of this perspective.

By explicating both the DSP and NEP and reflecting on each through an indigenous Māori view, this paper provides propositions for a broadened paradigm that supports sustainability and its application for sustainable marketing.

The implications of this research are in the area of paradigm development and in providing an alternative paradigm to that of the DSP. This paper is the first to fully explicate parts of the NEP and considers a solution to the problems of changing the current DSP so drastically by broadening the NEP using a Relational worldview.

The propositions and examples provided in this work give practical application of the newly presented paradigm for marketers influenced by indigenous belief systems.

This paper is the first to explicate parts of the NEP and broaden its reach by integrating a Relational worldview as an alternative to drastically changing the current DSP. It does so by proposing that marketers embrace a middle ground that is influenced by indigenous belief systems.

To date, sustainability in technology firms has focused on improving outputs while maintaining the same inputs. The purpose of this paper is to propose a six‐stage model for enhancing inputs as well as outputs, named sustainable human capital. The paper extends traditional views of individuals as human capital, measured as formal education and direct experience to incorporate more holistic and humanistic views of informal education and indirectly related experience. This allows technology firms, whose lifeblood is innovation, to increase employee satisfaction and performance, quality and quantity of technology firm innovation, and societal well‐being in the form of sustainable products and services.

This paper extends concepts in innovation management to build a holistic model of employees as sustainable human capital. By bridging theory and practice, this paper provides a framework for knowledge‐building partnerships and, thus, relational wealth, or the value created by and for a firm through its internal relations among and with employees.

A model of sustainable human capital starts with pre‐hiring processes (raw materials), on‐boarding (design stage), training and development (production stage), developing external partnerships and integrating individual employees with the ecosystem (distribution stage), building internal relationships through mentoring (use and maintenance stage), and employee's exit through succession planning (recovery stage).

Technology managers have been utilizing a lifecycle approach for product innovation, yet have de‐coupled the product from the people, the fundamental source of innovation. Thus, re‐incorporating the human aspect to the lifecycle approach offers practices for holistic engagement of employees in innovation. Just as management literature pushed economists to shift their views of employees from homogeneous units of human capital to heterogeneous individuals, sustainability literature must evolve in its approach to start thinking of employees as discrete individuals with differentiated skills that change over time.

Customer interactions with sellers change as social interactions in society change. The old dichotomy between transaction and relation exchange may no longer be valid as customers form relationships with sellers in new ways. It is against this background that the authors study how customers’ subjective perception of relational exchange appears in objectively defined transactional and relational exchange forms. The authors study one bank’s customers, and, based on objective bank records, the authors identify segments that behave as transactional and relational customers. The authors also identify a group of customers who are in between transactional and relational, and the authors call these interimistic relational, since they interact repeatedly with the bank in a short period of time. The paper aims to discuss these issues.

The authors study how subjective attributes of relational exchange differ in objectively defined transactional, interimistic, and relational customer groups. The authors use a large data set, consisting of a combination of survey and objective bank records for 90,528 bank customers.

Findings are that the old dichotomy between transaction and relation is no longer valid, since customers’ exchange behavior and perception of exchange do not match up when it comes to the transaction-relation dichotomy. The authors find empirical evidence for that the subjective relational attributes can be observed in objectively defined relational, interimistic, and transactional customer groups. Overall, subjective relational attributes are strongest in the objective relational group; they are weaker in the interimistic group. Relational attributes are weakest, but still present, in the transactional group.

The findings presented here suggest strong support for relationship marketing practice, since even customers who behave transactionally perceive that they have an element of relationship with the seller. The authors find that customers may behave in a relational, interimistic, and transactional way, but that they perceive themselves as more or less relational. The practical implication is that customer analysis should focus on exchange forms, and that it is essential to analyze how exchange changes, and how multiple exchange forms may be combined in customer behavior and perception.

The social implications of this paper are that marketers should consider the exchange between customer and financial service supplier as more or less of a relationship, and more or less of a service. Financial service firm strategies and regulation of financial services should acknowledge that no financial service transaction is independent of the relationship between the financial service provider and the customer. It may seem so objectively, but subjectively, it is not.

The authors present a unique comparison of objective and subjective customer exchange. There are two contributions that come from this research. The first is that customers perceive themselves as partially relational, even though they behave transactionally. The other contribution is that the authors identified interimistic relational exchange (IRE) as an exchange form in between relational and transactional. IRE can potentially be very important for market research and practice, as it captures modern market behavior. In today’s world, consumers form their perceptions in a multitude of ways, and may therefore have relational attitudes and transactional behaviors. More research is needed into how consumer perceptions and behaviors relate to each other, and how it impacts consumer purchase of financial services.

This paper aims to examine the interplay of emotions and consumption within intergenerational exchanges. It shows how emotions pervade the trajectories of grandmothers’ relational identities with their grandchildren through consumption practices.

This study analyses qualitative data gathered via 28 long interviews with French grandmothers and 27 semi-structured interviews with their grandchildren. This study draws on attachment theory to interpret the voices of both grandmothers and their grandchildren within these dyads.

This study uncovers distinct relational identities of grandmothers linked to emotions and the age of the grandchild, as embedded in consumption. It identifies the defining characteristics of the trajectory of social/relational identities and finds these to be linked to grandchildren’s ages.

This study elicits the emotion profiles, which influence grandmothers’ patterns of consumption in their relationships with their grandchildren. It further uncovers distinct attachment styles (embedded in emotions) between grandmothers and grandchildren in the context of their consumption experiences. Finally, it provides evidence that emotions occur at the interpersonal level. This observation is an addition to existing literature in consumer research, which has often conceived of consumer emotions as being only a private matter and as an intrapersonal phenomenon.

The findings offer avenues for the development of strategies for intergenerational marketing, particularly promotion campaigns which link either the reinforcement or the suppression of emotion profiles in advertising messages with the consumption of products or services by different generations.

This study suggests that public institutions might multiply opportunities for family and consumer experiences to combat specific societal issues related to elderly people’s isolation.

In contrast to earlier work, which has examined emotions within the ebb and flow of individual and multiple social identities, this study examines how emotions and consumption play out in social/relational identity trajectories.

As organizations face volatile and virtual environments there is a growing need to equip emerging leaders with skills to generate, utilize and maintain social capital. This paper aims to examine five recent, large leadership studies to clarify the role that human capital or social capital capabilities play in present day and future leadership.

Researchers review five recent large leadership studies, assessing the human capital and/or social capital orientation of identified leadership capabilities.

The analysis indicates that, although there is a primary focus on human capital capabilities, social capital skills have begun to receive more attention as components of a leader's skill set.

The review focused on five published studies and does not reflect the comprehensiveness of a meta‐analysis. Hence conclusions may not apply to all situations. Further exploration and longitudinal study of the efficacy of various developmental approaches and the differential impacts of human and social capital approaches on leaders' effectiveness is suggested.

The growing value placed on leadership social capital capabilities is further addressed here through the presentation of specific social capital skill development initiatives that may be implemented within an organization.

The paper suggests that social capital skills have received more attention recently, yet remain undervalued compared with human capital as important leadership components and offers suggestions for enhancing leadership development initiatives through specific foci on social capital skill development including adopting an open‐systems organic mindset, leveraging relational aspects of leadership development, and building networking and story‐telling skills.