It doesn’t take much to discover that sustainability means different things to different people. Try engaging on the topic with external stakeholders. Labor advocates see it differently than Greenpeace. Community leaders see it differently than regulators. Who you’re talking to affects what they hear. Part of the CSR Director’s job is navigating these diverse meanings […]

Grounded in the upper echelons perspective and stakeholder theory, this study establishes a link between CEO hubris and corporate social responsibility (CSR). We first develop the theoretical argument that CEO hubris is negatively related to a firm's socially responsible activities but positively related to its socially irresponsible activities. We then explore the boundary conditions of hubris effects and how these relationships are moderated by resource dependence mechanisms. With a longitudinal dataset of S&P 1500 index firms for the period 2001–2010, we find that the relationship between CEO hubris and CSR is weakened when the firm depends more on stakeholders for resources, such as when its internal resource endowments are diminished as indicated by firm size and slack, and when the external market becomes more uncertain and competitive. The implications of our findings for upper echelons theory and the CSR research are discussed.

Abstract

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Abstract

Purpose – The competitive pressures of the past several years and the ongoing financial meltdown has driven most tanker owners and operators to rethink their business strategy. In addition, new green technologies are providing opportunities to reduce the environmental impact of the shipping industry. Given the parameters of the situation, this paper analyzes the case of Teekay Shipping, one of the market leaders. In particular, this paper addresses Teekay's specific advantages and their sustainability under rapidly changing competitive conditions. Design/methodology/approach – This paper utilizes a series of analytical methods to provide an exploratory understanding of Teekay's strategic positions. Teekay's business model will be analyzed in the context of social, technological, economic, environmental and political trends and SWOT analysis is also explored. Findings – The gaps in Teekay's business model in relation to growth opportunities and inconsistencies in its strategic efforts are revealed along with recommendations and conclusions. This paper contributes to a greater understanding of the complex and changing factors that shape the shipping industry, and should therefore lead to more effective nautical management. Originality/value – With the use of the discussed strategic management tools in this paper, which have proven successful in other industries, it can be expected to enhance Teekay's management of its business, proving another success for the cross-fertilization of ideas.