Stakeholder orientation: development and testing of a framework for socially responsible marketing

Abstract

Drawing on the market orientation and stakeholder literatures, we conceptualize and operationalize stakeholder orientation to explore the potential contribution of the marketing function in a stakeholder view of the firm. Stakeholder orientation, similar to market orientation, is operationalized as both an organizational culture and a set of behaviors. The results of a managerial survey reveal that a new construct of stakeholder-oriented behaviors has a strong positive association with market performance, financial performance, reputation, and employee commitment. Overall, our study illustrates how a stakeholder view of the firm can help improve managerial practices that contribute to improved financial, social, and ethical performance.