Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition : Explaining Productivity, Economic Growth, and Wealth Creation

• Autorzy: Shelby D. Hunt
• Języki publikacji: EN

Abstrakty

EN

Scholars agree that societal-level moral codes that promote social trust also promote wealth creation. However, what specific kinds of societal-level moral codes promote social trust? Also, by what specific kind of competitive process does social trust promote wealth creation? Because societal-level moral codes are composed of or formed from peoples' personal moral codes, this article explores a theory of ethics, known as the "Hunt-Vitell" theory of ethics, that illuminates the concept of personal moral codes and uses the theory to discuss which types of personal moral codes foster trust and distrust in society. This article then uses resource-advantage (R-A) theory, one of the most completely articulated dynamic theories of competition, to show the process by which trust-promoting, societal-level moral codes promote productivity and economic growth. That is, they promote wealth creation. (original abstract)

Słowa kluczowe

EN

Trust; Competition; Productivity; Economic growth

PL

Zaufanie; Konkurencja; Produktywność; Wzrost gospodarczy

• Czasopismo: Contemporary Economics
• Rocznik: 2012
• Tom: 6
• Numer: nr 2
• Strony: 4--19

Twórcy

autor

Shelby D. Hunt

• Texas Tech University, USA

Bibliografia

• Ajzen, I. (1985). From intentions to actions: A theory of planned behavior. In J. Kuhl & J. Beckman (Eds.), Action control: From cognition to behavior (11-39). Berlin: Springer-Verlag.
• Arnett, D.B. & S. D. Hunt. (2002). Competitive irrationality: The influence of moral philosophy. Business Ethics Quarterly, 12, 279-303.
• Arrow, K. J. (1972). Gifts and exchanges. Philosophy and Public Affairs, 1, 343-61.
• Arrow, K. J. (1974). The limits of organizations. Cambridge, MA: Harvard University Press.
• Bebeau, M, J., J. R. Rest, & C. M. Yamoor. (1985). Measuring dental students ethical sensitivity. Journal of Dental Education, 49, 225-35.
• Burns, J. O. & P. Kiecker. (1995). Tax practitioner ethics: An empirical investigation of organizational consequences. The Journal of the American Taxation Association, 17 (2): 20-49.
• Donaldson, T. & T. W. Dunfee. (1994). Towards a unified conception of business ethics: Integrative social contracts theory. Academy of Management Review, 19 (April), 85-112.
• Donoho, C.L., M.J. Polonsky, J. Herche, & M.J. Swenson. (1999). A cross cultural examination of the general theory of marketing ethics: Does it apply to the next generation of marketing managers? In S. Smith (Ed.), Proceedings of the Seventh Cross Cultural Research Conference. Cancun, Mexico.
• Dunfee, T. W., N. C. Smith, & W. T. Ross Jr. (1999). Social contracts and marketing ethics. Journal of Marketing, 63 (July),14-32.
• Etzioni, A. (1988). The moral dimension: Toward a new economics. New York, NY: The Free Press.
• Fishbein, M. & I. Ajzen. (1975). Belief, attitude, intention and behaviour: An introduction to theory and research. Reading, MA: Addison-Wesley.
• Foss, N. (1993). Theories of the firm: Contractual and competence perspectives. Journal of Evolutionary Economics, 3, 127-144.
• Foss, N. (2000). The Dangers and Attractions of Theoretical Eclecticism. Journal of Macromarketing, 20 (June), 65-67.
• Frank, R. H., T. Gilovich, & D. T. Regan. (1993). Does Studying Economics Inhibit Cooperation? Journal of Economic Perspectives, 7, 159-71.
• Frankena, W. (1963). Ethics. Englewood Cliffs, NJ: Prentice-Hall, Inc.
• Fukuyama, F. (1995). Trust: The Social Virtues and the Creation of Prosperity. New York, NY: Free Press.
• Gambetta, D. (1988). Trust: making and breaking cooperative relationships. New York, NY: Basil Blackwell.
• Goolsby, J. R. & S. D. Hunt. (1992). Cognitive moral development and marketing. Journal of Marketing, 56 (January), 55-68.
• Grengs, C. M. (2006). Verizon v. Trinko: From post-Chicago antitrust to resource-advantage competition. Journal of Law, Economics, & Policy, 2 (1), 105-144.
• Harrison, L.E. (1992). Who prospers?: How cultural values shape economic and political success. New York, NY: Basic Books.
• Hegarty, W. H. & H. P. Sims. (1978). Some determinants of unethical behavior: An experiment. Journal of Applied Psychology, 63 (4), 451-57.
• Hodgson, G. M. (1993). Economics and evolution. Ann Arbor, MI: University of Michigan Press.
• Hodgson, G.M. (2000). The marketing of wisdom: Resource-advantage theory. Journal of Macromarketing, 20 (June), 68-72.
• Howard, J. A. & J. N. Sheth. (1969). The theory of buyer behavior. New York, NY: Wiley.
• Hunt, S. D. (1995). The resource-advantage theory of competition: Toward explaining productivity and economic growth. Journal of Management Inquiry, 4 (December), 317-32.
• Hunt, S. D. (1997a). Competing through relationships: Grounding relationship marketing in resource advantage theory. Journal of Marketing Management, 13, 431-445.
• Hunt, S. D. (1997b). Evolutionary economics, endogenous growth models, and resource-advantage theory. Eastern Economic Journal, 23 (4), 425-39.
• Hunt, S. D. (1997c). Resource-advantage theory: An evolutionary theory of competitive firm behavior? The Journal of Economic Issues, 31 (March), 59-77.
• Hunt, S. D. (1997d). Resource-advantage theory and the wealth of nations. The Journal of Socio-Economics, 26 (4), 335-57.
• Hunt, S. D. (1998). Productivity, economic growth, and competition: Resource allocation or resource creation? Business and the Contemporary World, 10, 367-394.
• Hunt, S. D. (1999). The strategic imperative and sustainable competitive advantage: Public policy and resource advantage theory. Journal of Academy of Marketing Science, 27 (2), 144-159.
• Hunt, S. D. (2000a). The competence-based, resource-advantage, and neoclassical theories of competition: Toward a synthesis. In R. Sanchez & A. Heene (Eds.), Competence-Based Strategic Management: Theory and Research (177-208). Greenwich, CT: JAI Press.
• Hunt, S. D. (2000b). A general theory of competition: Resources, competences, productivity, economic growth. Thousand Oaks, CA: Sage Publications.
• Hunt, S. D. (2000c). A general theory of competition: Too eclectic or not eclectic enough? Too incremental or not incremental enough? Too neoclassical or not neoclassical enough? Journal of Macromarketing, 20 (1), 77-81.
• Hunt, S. D. (2000d). Synthesizing resource-based, evolutionary and neoclassical thought: resource-advantage theory as a general theory of competition. In N. J. Foss & P. Robertson (Eds.), Resources, Technology, and Strategy (53-79). London, UK: Routledge
• Hunt, S. D. (2001). A general theory of competition: Issues, answers, and an invitation. European Journal of Marketing, 35, 524-548.
• Hunt, S. D. (2002a). Foundations of marketing theory: Toward a general theory of marketing. Armonk, NY: M.E. Sharpe.
• Hunt, S. D. (2002b). Truth and scientific realism. Unpublished working paper, Marketing Department. Lubbock, TX: Texas Tech University.
• Hunt, S. D. (2002c). Resource-advantage theory and Austrian economics. In N. J. Foss & P. Klein (Eds.), Entrepreneurship and the Firm: Austrian Perspectives on Ecomonic Organization. Cheltenham, UK: Elgar.
• Hunt, S. D. & D.B. Arnett. (2001). Competition as an evolutionary process and antitrust policy. Journal of Public Policy and Marketing, 20 (1), 15-25.
• Hunt, S. D. & D.B. Arnett. (2003). Resource-advantage theory and embeddedness: Explaining R-A theory's explanatory success. Journal of Marketing Theory and Practice, 11 (1), 1-16.
• Hunt, S. D. & D.B. Arnett. (2004). Market segmentation strategy, competitive advantage, and public policy: Grounding segmentation strategy in resource-advantage theory. Australasian Marketing Journal, 12 (1), 7-25.
• Hunt, S. D. & D.B. Arnett. (2006). Does marketing success lead to market success? Journal of Business Research, 59, 820-828.
• Hunt, S. D. & C. Derozier. (2004). The normative imperatives of business and marketing strategy: Grounding strategy in resource-advantage theory. Journal of Business and Industrial Marketing,19(1), 5-22.
• Hunt, S. D. & D.F. Duhan. (2002). Competition in the third millennium: Efficiency or effectiveness? Journal of Business Research, 55 (2), 97-102.
• Hunt, S. D. & C. J. Lambe. (2000). Marketing's contribution to business strategy: Market orientation, relationship marketing, and resource-advantage theory. International Journal of Management Reviews, 2 (1), 17-44.
• Hunt, S. D. & S. Madhavaram. (2006a). Teaching marketing strategy: Using resource-advantage theory as an integrative theoretical foundation. Journal of Marketing Education, 28 (2), 93-105.
• Hunt, S. D. & S. Madhavaram. (2006b). The service-dominant logic of marketing: Theoretical foundations, pedagogy, and resource-advantage theory. In R.F. Lusch & S.L. Vargo (Eds.), The Service-Dominant Logic of Marketing: Dialog, Debate, and Directions (85-90). Armonk, NY: M.E. Sharpe.
• Hunt, S. D. & R.M. Morgan. (1995). The comparative advantage theory of competition. Journal of Marketing, 59 (April), 1-15.
• Hunt, S. D. & R.M. Morgan. (1996). The resource-advantage theory of competition: Dynamics, path dependencies, and evolutionary dimensions. Journal of Marketing, 60 (October), 107-114.
• Hunt, S. D. & R.M. Morgan. (1997). Resource-advantage theory: A snake swallowing its tail or a general theory of competition? Journal of Marketing, 61 (October), 74-82.
• Hunt, S. D. & R.M. Morgan. (2005). The resource-advantage theory of competition: A review. In N. K. Malhotra, (Ed.), Review of Marketing Research (153-205). Armonk, NY: M.E. Sharpe,.
• Hunt, S. D. & A. Vasquez-Parraga. (1993). Organizational consequences, marketing ethics and salesforce supervision. Journal of Marketing Research, 30 (February), 78-90.
• Hunt, S. D. & S. M. Vitell. (1986). A general theory of marketing ethics. Journal of Macromarketing, 6 (Spring), 5-15.
• Hunt, S. D. & S. J. Vitell (2006), The general theory of marketing ethics: A revision and three questions. Journal of Macromarketing, 26 (2), 143-153.
• Hunt, S. D., V. R. Wood, & L. B. Chonko. (1989). Corporate ethical values and organizational commitment in marketing. Journal of Marketing, 53 (July), 79-90.
• Jones, T. M. (1991). Ethical decision making by individuals in organizations: An issue-contingent model. Academy of Management Review, 16 (February), 366-95.
• Kohlberg, L. (1984). Essays on moral development: Vol. II The psychology of moral development. New York, NY: Harper and Row.
• Langlois, R. N. & P.L. Robertson. (1995). Firms, markets and economic change: A dynamic theory of business institutions. London, UK: Routledge.
• Marwell, G. & R. E. Ames. (1981). Economists free ride: Does anyone else? Journal of Public Economics, 15, 295-310.
• Mayer, R. R. (1970). Management's responsibility for purchasing ethics. Journal of Purchasing, 4, 13-20.
• Mayo, M. A. & L. J. Marks. (1990). An empirical investigation of a general theory of marketing ethics. Journal of the Academy of Marketing Science, 18 (Spring), 163-72.
• Menguc, B. (1997). Organizational consequences, marketing ethics, and salesforce supervision: Further empirical evidence. Journal of Business Ethics, 16, 1-20.
• Morgan, R. E. & S. D. Hunt. (2002). Determining marketing strategy: A cybernetic systems approach to scenario planning. European Journal of Marketing, 36 (4), 450-78.
• North, D. C. (1990). Institutions, Institutional Change, and Economic Performance. Cambridge, UK: University of Cambridge.
• Petty, R. E. & J. T. Cacioppo. (1986). Communication and persuasion: Central and peripheral routes to persuasion. New York, NY: Springer-Verlag.
• Phelps, E.S. (1975). Altruism, morality, and economic theory. New York, NY: Russell Sage Foundation.
• Rest, J. R. (1986). Moral development: Advances in research and theory. New York, NY: Prager Publishers.
• Shaub, M. K. (1989). An empirical examination of the determinants of auditors' ethical sensitivity. (Unpublished doctoral dissertation). Lubbock, TX: Texas Tech University.
• Singhapakdi, A. & S. J. Vitell. (1990). Marketing ethics: Factors influencing perceptions of ethical problems and alternatives. Journal of Macromarketing, 10 (Spring), 4-18.
• Singhapakdi, A. & S. J. Vitell. (1991). Research note: Selected factors influencing marketers' deontological norms. Journal of the Academy of Marketing Science, 19 (Winter), 37-42.
• Sparks, J. R. & S. D. Hunt. (1998). Marketing researcher ethical sensitivity: Conceptualization, measurement, and exploratory investigation. Journal of Marketing, 62 (February), 92-109.
• Teece, D. & G. Pisano. (1994). The Dynamic Capabilities of Firms: An Introduction. Industrial and Corporate Change, 3 (3), 537-56.
• Trevino, L. K. (1986). Ethical decision-making in organizations: A person-situation Interactionist Model. Academy of Management Review, 11 (3), 601-17.
• Tubbs, M. E. & S. E. Ekeberg. (1991). The role of intentions in work motivation: Implications for goal-setting theory and research. Academy of Management Review, 16 (1), 180-199.
• Vitell, S. & J. G.P. Paolillo. (2003). Consumer ethics: The role of religiosity. Journal of Business Ethics, 46 (2), 151-62.
• Vitell, S. J., J. G. P. Paollilo, & J. J. Singh. (2005). Religiosity and consumer ethics. Journal of Business Ethics, 57 (2), 175-181.
• Vitell, S. & S. D. Hunt. (1990). The general theory of marketing ethics: A partial test of the model. In J. N. Sheth (Ed.), Research in Marketing Vol. 10 (237-265) Greenwich, CT: J.A.I. Press.
• Volker, J. M. (1979). Moral reasoning and college experience. Unpublished manuscript, Minneapolis, MN: The University of Minnesota.
• Williams, O. F. & P. E. Murphy. (1990). The ethics of virtue: A moral theory for marketing. Journal of Macromarketing, 10 (Spring), 19-29.
• Williamson, O. E. (1975). Markets and hierarchies: Analysis and anti-trust implications. New York, NY: The Free Press.
• Williamson, O. E. (1979). Transaction-cost economics: The governance of contractual relations. Journal of Law and Economics, 22, 233-261.
• Williamson, O. E. (1981). The modern corporation: Origins, evolution, attributes. Journal of Economic Literature, 19 (Dec.), 1537-1568.
• Williamson, O. E. (1993). Opportunism and Its Critics. Managerial and Decision Economics, 14, 94-107.
• Williamson, O. E. (1994). Transaction cost economics and organization theory. In N.J. Smelser and Swedberg (Eds.), The Handbook of Economic Sociology 77-107. Princeton, NJ: Princeton University Press.
• Zey-Ferrell, M., K. M. Weaver, & O. C. Ferrell. (1979). Predicting unethical behavior among marketing practitioners. Human Relations, 32 (7), 557-569.

Identyfikatory

DOI

10.5709/ce.1897-9254.38