A RESOURCE-BASED-VIEW OF THE SOCIALLY RESPONSIBLE FIRM - STAKEHOLDER INTERDEPENDENCE, ETHICAL AWARENESS, AND ISSUE RESPONSIVENESS AS STRATEGIC ASSETS

In recent years the resource-based view of the firm has made significa nt headway in explaining differences in interfirm performance. However , this perspective has not considered the social and ethical dimension s of organizational resources. This paper seeks to provide such an int egration. Using Kuhn's three stage model of adaptive behavior, the res ource worthiness of stakeholder management, business ethics, and issue s management are explored. The paper concludes by drawing on prospect theory to understand the reasons for this conceptual lacuna.