Instrumental stakeholder theory seeks to explain how managing stakeholders effectively can yield competitive advantage for incumbent firms. We extend instrumental stakeholder theory to explain and predict future competition operationalized as new entrepreneurial entries. Our study is among the first to empirically examine the relationships between aggregate stakeholder management performance and the entrepreneurial entries of individuals. Using a combined U.S. dataset from 2003 to 2013 from the Kinder, Lydenberg and Domini Index, Compustat, and Kauffman’s Entrepreneurship Survey, we find support for three (...) hypotheses. First, higher levels of stakeholder management performance are related to lower rates of entrepreneurial entry. Second, a curvilinear relationship exists between stakeholder management performance and entrepreneurial entry, where both low and very high stakeholder management performance increase entrepreneurial entry. Third, the greater the variance in stakeholder management performance across stakeholders, the more entrepreneurial entry. Our findings suggest that managing for stakeholders can help to avoid future competition. We add an entrepreneurship lens to the business ethics of stakeholder theory showing how incumbent stakeholder management performance shapes opportunities for entrepreneurs, a largely neglected stakeholder group. (shrink)

Entrepreneurs with social goals face various challenges; insights into how these entrepreneurs experience and appreciate their work remain a black box though. Drawing on identity, conservation of resources, and person–organization fit theories, this study examines how entrepreneurs’ social value creation beliefs relate to their work-related well-being (job satisfaction, work engagement, and lack of work burnout), as well as how this process might be influenced by social concerns with respect to the common good. Using data from the German Public Value Atlas (...) 2015 and 2019 and the Swiss Public Value Atlas 2017, a three-study design analyzes three samples of entrepreneurs in Germany and Switzerland. Study 1 reveals that entrepreneurs report higher job satisfaction when they believe their organization creates social value. Study 2 indicates that these beliefs relate negatively to work burnout; entrepreneurs’ perceptions of having meaningful work mediate this relationship. Study 3 affirms and extends these results by showing that a sense of work meaningfulness mediates the relationship between social value creation beliefs and work engagement and that this mediating role is more prominent among entrepreneurs with strong social concerns. This investigation thus identifies a critical pathway—the extent to which entrepreneurs experience their work activities as important and personally meaningful—that connects social value creation beliefs with enhanced work-related well-being, as well as how this process might vary with a personal orientation that embraces the common good. (shrink)

Worker well-being is a hot topic in organizations, consultancy and academia. However, too often, the buzz about worker well-being, enthusiasm for new programs to promote it and interest to research it, have not been accompanied by universal enthusiasm for scientific measurement. Aim to bridge this gap, we address three questions. To address the question ‘What is worker well-being?’, we explain that worker well-being is a multi-facetted concept and that it can be operationalized in a variety of constructs. We propose a (...) four-dimensional taxonomy of worker well-being constructs to illustrate the concept’s complexity and classify ten constructs within this taxonomy. To answer the question ‘How can worker well-being constructs be measured?’, we present two aspects of measures: measure obtrusiveness (i.e., the extent to which obtaining a measure interferes with workers’ experiences) and measure type (i.e., closed question survey, word, behavioral and physiological). We illustrate the diversity of measures across our taxonomy and uncover some hitherto under-appreciated avenues for measuring worker well-being. Finally, we address the question ‘How should a worker well-being measure be selected?’ by discussing conceptual, methodological, practical and ethical considerations when selecting a measure. We summarize these considerations in a short checklist. It is our hope that with this study researchers – working in organizations, in academia or both – will feel more competent to find effective strategies for the measurement worker well-being and eventually make policies and choices with a better understanding of what drives worker well-being. (shrink)