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Small-Business Owner-Managers’

Perceptions of Business Ethics

and CSR-Related Concepts

Yves Fassin Annick Van Rossem

Marc Buelens

ABSTRACT. Recent academic articles point to an

increased vagueness and overlap in concepts related to

business ethics and corporate responsibility. Further, the

perception of these notions can differ in the small-

business world from the original academic definitions.

This article focuses on the cognition of small-business

owner-managers. Given the impact of small-business

owner–managers on their ventures, corporate responsi-

bility and ethical issues can take a different route in

SMEs. The small-business owner–manager is able to

shape the corporate culture and to enact values other

than profit. Adopting a cognitive perspective, we have

identified how the small-business owner–manager

makes sense of notions linked to corporate social

responsibility (CSR) and business ethics. The concept

of sensemaking has recently been applied to CSR (Basu

and Pallazzo, 2008; Cramer et al., 2006). Applying a

cognitive perspective to small-business owners may help

in explaining specific phenomena found within small-

business ownership. For this research, the Repertory

Grid Technique (RGT) is used, a method that has not

previously been widely applied in the business and

society field.

Our findings to an extent invalidate the confusion in

terminology found in the academic literature. Small-

business owner–managers, pragmatically and rather

clearly, differentiate among the various concepts related

to corporate responsibility and business ethics but, at

the same time, they recognise the interrelationships and

interdependencies of these concepts. These findings

contribute to a better understanding of how

small-business owners think and integrate corporate

responsibility and ethical issues into their decision-

making.

KEY WORDS: business ethics, corporate social respon-

sibility, corporate governance, small business, SME, family

business, entrepreneur, cognition, sensemaking, percep-

tion, Repertory Grid Technique

Introduction

Business ethics and corporate responsibility have been

increasingly considered by both academics and prac-

titioners in recent decades (Carroll and Buchholtz,

2006; Epstein, 1987; Schwartz and Carroll, 2008;

Vogel, 1991). The majority of academic research on

management have focused on large corporations,

including that in the domains of corporate social

responsibility (CSR) and business ethics. The issue of

corporate responsibility and ethics in small and

medium-sized enterprises (SMEs) has received only

limited attention in the literature (Gallo, 2004;

Murillo and Lozano, 2006; Spence, 1999).

Over a hundred concepts have been proposed on

how ethical issues in business should be defined

(Egels, 2005; van Marrewijk, 2003). This explosion of

concepts and definitions has increased vagueness and

ambiguity (van Marrewijk, 2003). The object of this

analysis is to explore the distinctiveness and clarity in

the perceptions of small-business owner-managers of

the concepts in this important field by studying the

knowledge structures, or mental models, that small-

business owners have developed to process informa-

tion. This provides a better understanding of how

these small-business owners think and make strategic

choices. The strong economic orientation of most

strategy research has led many studies to equate

entrepreneurial motivation with a desire for profit

(Mitchell et al., 2004). A clearer understanding of

how small-business owners interpret CSR and busi-

ness ethics might show that motivations other than

profit maximisation influence their decision making

(Klein and Kellermanns, 2008).

This article proceeds as follows. The first section

highlights the confusion surrounding the various

Journal of Business Ethics (2011) 98:425–453 � Springer 2010 DOI 10.1007/s10551-010-0586-y

concepts related to business ethics and CSR, and to the

lack of consistency in the use of these concepts. The

second section elaborates on the theme of cognition,

sensemaking and construing. Next, in the third sec-

tion, we formulate our research question and explain

the objective of this exploratory study, i.e. to under-

stand small-business owners’ cognition of CSR and

related topics through a combination of qualitative and

quantitative approaches. The fourth section outlines

the methodological issues, the research design and our

sampling. The empirical results are summarised in the

following (fifth) section. In the sixth section, the results

of our research are discussed and illustrated with

comments from small-business owner-managers. The

limitations and perspectives for further research pre-

cede concluding remarks in the final section.

Concepts related to business ethics

and corporate responsibility

The intermingled use of various CSR and business-

ethics-related concepts in numerous academic arti-

cles, in corporate communication and in the media has

lead to a certain confusion between those concepts.

Conceptual confusion in academic literature

A number of recent articles in the business and society

literature have drawn attention to the lack of consis-

tency and coherence, while retaining certain similar-

ities, in the definitions and use of concepts related to

business ethics and social responsibility such as stake-

holder theory, CSR, corporate citizenship, corporate

social performance, sustainable development and

business ethics. ‘Management literature treats these

concepts in one way and business ethics literature in

another way’ (Fisher, 2004, p. 391). With unclear

semantics and specialist terminology, concepts are

continuously mixed up in terms of context, content

and perspectives (Attarça and Jacquot, 2005; Epstein,

1987; Fisher, 2004; Wheeler et al., 2003). Further,

marketing labels dreamed up by consultants and new

concepts launched by academics amplify the confu-

sion in a competition to establish a dominant concept

(De Bakker et al., 2005).

In particular, two concepts, CSR and business

ethics, manifestly overlap and tend to be used almost

interchangeably in academic literature (Cacioppe

et al., 2008; Epstein, 1987; Ferrell, 2004; Joyner and

Payne, 2002; Vogel, 1991). Further, sustainability

and CSR seem to have converged in recent years

such that they are now very similar concepts (Staurer

et al., 2005; Waddock, 2004). The interrelationship

between these concepts is also illustrated by the

central role given to ethics in CSR and in the

stakeholder concept (Garriga and Melé, 2004;

Donaldson and Preston, 1995).

Alongside these major concepts, related broad

concepts such as the triple bottom-line, corporate

governance and accountability have emerged, while

many fragmented and more specific notions such as

safety, product liability, human rights, codes or

charters, and philanthropy have developed as sub-

domains (Carroll and Buchholtz, 2006; Crane and

Matten, 2004). Philanthropy was included as a fourth

stage in Carroll’s pyramid of CSR, after economic,

legal and ethical responsibilities (Carroll, 1991; Crane

and Matten, 2004; Porter and Kramer, 2006). Con-

versely, in the European Commission vision (Afuah,

2001), philanthropy was explicitly excluded from

CSR (Luetkenhorst, 2004), with the real objective of

CSR being also seen as sustainable development

(Eberhard-Harribey, 2006).

A comparison of a selection of articles by

authoritative scholars in Appendix A leads to the

conclusion that there is much confusion in this area

with vagueness and ambiguity attached to the

concepts. Similarly, leading handbooks on business

ethics incorporate various concepts, although the

label of stakeholder is a common thread. In addi-

tion to the above mentioned concepts, this study is

the first to also integrate corporate governance into

the analysis (Fassin and Van Rossem, 2009). Al-

though CSR and corporate governance have

developed along separate lines, some complemen-

tarities and an increasing overlap have been ob-

served (Aguilera et al., 2006; Beltratti, 2005; Morris

et al., 2002; Van den Berghe and Louche, 2005).

Other authors have depicted the interrelationships

and interdependencies among business ethics, cor-

porate governance and sustainability (Potts and

Maluszewski, 2004; Wieland, 2001). The list of

articles in Appendix A includes, in the middle

column, notes on the major and any additional

concepts considered in these articles. This list

highlights a number of common concerns expressed

426 Yves Fassin et al.

by authors. They raise a number of theoretical is-

sues around the concepts, and these articles clearly

express concerns about the lack of clarity in ter-

minology, vagueness in conceptualisation and

ambiguity in their interpretation (see also compar-

ative studies of De Bakker et al., 2005; Schwartz

and Carroll, 2008; Valor, 2005). The theoretical

issues involve differentiation issues such as overlaps

and similarities, matters of hierarchical positioning,

relationships and cross-connections, and placement

in existing frameworks. These issues can be viewed

as typical of competition among different streams of

research, with issues related to integration, con-

vergence or divergence, juxtaposition and com-

plementarity (De Bakker et al., 2005).

Conceptual confusion in corporate communications

and in the media

The confusion between concepts related to CSR and

business ethics increased when the academic literature

spread into daily business life and the press (for

example De Wilde, 2007; Verbeke, 2007). Many

CSR and business-related concepts have evolved in

parallel universes of companies and academia –

sometimes overlapping, sometimes not (Waddock,

2004) – because the vast amount of CSR literature

offered little practical guidance to corporate execu-

tives (Porter and Kramer, 2006). References to CSR,

sustainable development and corporate governance in

a corporation’s mission and value statements became

increasingly muddled. The numerous press articles on

the introduction of the various codes of conduct for

corporate governance (for example, Cadbury in the

United Kingdom (UK-Government, 2002), Tab-

aksblat in the Netherlands (Rijksoverheid, 2003) and

Lippens in Belgium (Commissie-Corporate-Govern-

ance, 2009) engendered, explicitly or implicitly, a

liaison between ethics and corporate governance

(Gasorek, 2003). Brochures and websites produced

by large companies increasingly referred to these

notions, with wide variations in the use of the ter-

minology (Schlegelmilch and Pollach, 2005).

Further, different ways of disseminating the con-

cepts related to business ethics and CSR added to the

inconsistency and confusion. Apart from the aca-

demic press, many other channels diffuse ideas to the

industrial and business world. For example, consul-

tants and professional organisations use their own

channels to disseminate such concepts (Fincham,

1995; Fineman, 2001; Scarbrough, 2003). They often

promote ‘new’ concepts and programmes as varia-

tions upon the same theme, but with a fashionable

new name (Berglund and Werr, 2000; Gill and

Whittle, 1992; Huczynski, 1993; Scarbrough, 2003).

In addition, the general media also transmit these

concepts, increasingly so since their regained interest

in business and entrepreneurship after the series of

scandals at the end of the twentieth century (Buelens,

2002; Elliott and Schroth, 2002; Fassin, 2005). Each

channel puts its own spin and emphasis on the con-

cepts concerned (Abrahamson, 1996; Abrahamson

and Fairchild, 2001). Moreover, just as in the fields of

product development and innovation, the dissemi-

nation of concepts does not always occur at the same

pace (Hansen et al., 2004; Schlegelmilch and Pollach,

2005).

Sensemaking, construing and mapping

methods

Over the years, various researchers such as Simon

(1947) and Weick (1995) have advocated adopt-

ing cognitive perspectives in management studies

alongside economic viewpoints. The cognitive per-

spective focuses on studying mental processes and

determining the role that they play in affecting

emotions and behaviour (Swan, 1997). The cognitive

perspective emphasises that information processing

capabilities are limited (Fiske and Taylor, 1991) and

vary from one person or organisation to another

(Starbuck et al., 1978; Sutcliffe, 1994). In addition,

information is not always sufficiently rich or varied, so

that interpretation involves elaboration (Porac and

Thomas, 1990; Reger and Huff, 1993). Termed dif-

ferently, instead of attempting to grasp everything,

people construe ‘mental representations’, often re-

ferred to as knowledge structures which are simplified

mental images of the world. These images then are

imposed upon the world and used to help process

information, to ‘make sense’ and ultimately to make

decisions (Kiesler and Sproull, 1982; Walsh, 1994).

Sensemaking is an activity where cognitive structures

and structuring devices are used to perceive situations

and to interpret their perceptions (Sackmann, 1992)

to make sense of an ambiguous situation (Higgins

427Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

et al., 1977). Mental representations then guide

cognition and actions related to choices (Daft and

Weick, 1984; Stubbart, 1989). It has been argued that

managers generally shape their environment through

‘enactment’ – by constructing interpretations and

then acting as if such interpretations are the reality

(Bandura, 1986; Corbett and Hmieleski, 2007; Daft

and Weick, 1984; Porac et al., 1989). Herein also lies

what is called the ‘thinking–doing’ step. According to

several authors organisational sensemaking proceeds

from the scanning of information sources, through

interpretation of data, to action (Daft and Weick,

1984; Forbes, 1999; Weick, 1995). Sensemaking and

enactment are often referred to as a constructive

perspective on knowledge (Spender, 1996).

Such a cognitive perspective has been applied in

many strategic management studies, especially those

focusing on the upper echelons of larger companies

(Barr, 1998; Calori et al., 1992; Isabella and Waddock,

1994), and more recently also when considering

small-businesses and entrepreneurship (Corbett and

Hmieleski, 2007; Krueger, 2007; Mitchell et al.,

2004, 2007; Morris et al., 2002). Adopting a cognitive

perspective on small-business owners may well help in

explaining specific phenomena within small-business

ownership (Carland et al., 1984). Small-business

owners live within different contexts and environ-

ments, and think differently, from managers (Baron,

1998). The essential distinguishing factor between

small-business owners and entrepreneurs. on the one

hand, and managers, on the other, is in the bearing of

risk. The business is generally the primary source of

income for small-business owner-managers and will

consume the majority of their time and resources

(Carland et al., 1984). Another difference between

small and large companies is the extent of their re-

sources. A small-business venture has been defined as

any business that is independently owned and oper-

ated, and that is not dominant in its field (Carland

et al., 1984) or in which the firm’s optimum size is

generally small (d’Amboise and Muldowney, 1988).

Moreover, one should not forget that, by their very

nature, SMEs do not form a homogeneous entity

(Beaver, 2002). Hence, cognition research has the

potential to shed new light on many aspects of how

topics related to CSR and business ethics are per-

ceived by small-business owner-managers.

Related to this cognitive approach is the issue of

how to disclose people’s knowledge structures (Eden,

1992). Often graphical mental maps and related

mapping methods are used (Eden, 1992). A graphical

mental map can be defined as a graphical represen-

tation that provides a frame of reference for what is

known and what is believed (Fiol and Huff, 1992). In

line with Korzybski’s (1933) premise – the map is not

the territory,– it must be noted that what we term as

knowledge structures is not the same as graphical

representations of these knowledge structures: ‘it is

not obvious or empirically proven that managers

actually have cognitive maps in their heads or else-

where’ (Stubbart and Ramaprasad, 1990, p. 216).

Cognitive mapping methods can never claim to

completely represent human cognition and thinking

(Eden, 1992). That is of course why different map-

ping methods have been developed (Eden and

Spender, 1998), each capturing a different dimension

of the ‘territory’. Huff (1990) suggested five families

of cognitive maps, based on the purpose of the

mapping, their interpretive input from the researcher

and the parts of the knowledge structures captured.

Mapping methods are nested on two dimensions:

methodological issues and the research context

(Jenkins, 1998).

Given this argument, this article focuses on a

cognitive study to determine how small-business

owner-managers make sense of concepts related to

CSR and business ethics. The article emphasises the

content of the knowledge structures of small-business

owners as individuals. The content of a knowledge

structure plays an important role if one accepts that an

individual’s beliefs influence their intentions (Ajzen,

1991) and actions (Mitchell et al., 2007).

Research question

If, as has been indicated above, academic researchers

are not able to clearly distinguish between CSR and

related concepts, then how can one expect the

business community to understand the meanings and

differential characteristics of these concepts? This

question is all the more pertinent since these notions,

once they are conveyed by non-specialists such as

general business authors and journalists, lead to

greater vagueness, ambiguity and confusion (Abra-

hamson and Fairchild, 2001; Meyer, 1996).

The CSR and related concepts were initially

introduced into larger companies, albeit not without

428 Yves Fassin et al.

some difficulties. Nowadays, various initiatives at

European, national and regional levels are tending to

introduce and disseminate these notions to smaller

organisations, including SMEs. 1

However, if large

companies experience difficulties in understanding

and adopting these concepts, how can we expect

SME owner-managers to distinguish the precise

impact of the various concepts? On the other hand,

is it possible that, despite the academic confusion,

there is some degree of sensemaking and pragmatism

amongst small-business owners (Weick, 1995)?

As noted in the ‘‘Introduction’’ section, corporate

responsibility and ethics in SMEs has only recently

received limited attention in the literature. The

majority of empirical studies on CSR and ethics

have focused on large companies (Spence, 1999;

Vyakarnam et al., 1997). The limited number of

studies concerning SMEs have compared the atti-

tudes of managers in large companies to those of

small-business owners (Longenecker et al., 1989).

More recently, some scholars have investigated

ethics in innovative entrepreneurial ventures (Bucar

et al., 2003; Hannafey, 2003). However, few studies

investigate how small-business owner–managers

make sense of concepts surrounding CSR and ethics.

While number of studies on the attitude of small-

business owner–managers have been undertaken

(Quinn, 1997), cognitive studies on the CSR per-

ceptions of small-business leaders are comparatively

rare (Boal and Newman, 1985). More recently, the

concept of sensemaking has been applied to CSR

(Basu and Pallazzo, 2008; Cramer et al., 2006).

Corporate responsibility and ethical issues have a

different width in SMEs. Most ventures have only

one or a few key managers (mostly the owners) at

their core, and relatively few hierarchical levels. Thus,

their beliefs and decision-making processes are likely

to be more concentrated than those in large organi-

sations. Fewer hierarchical levels permit closer con-

tact with all personnel. The effects of managerial

cognition are thus likely to be more direct in venture

settings than in larger, more established organisations

(Forbes, 1999) and the impact of small-business

owner-managers on their organisation is extremely

influential, and maybe even more important than in

large organisations (Bucar and Hisrich, 2001). Often,

as the sole or a major decision-maker, the small-

business owner-manager has the possibility to shape

the corporate culture and to enact values other than

profit (Klein and Kellermanns, 2008; Nicholson,

2008). As such, understanding how small-business

owners interpret and enact business ethics and

CSR-related concepts may shed light on how these

concepts will eventually be implemented (Murillo

and Lozano, 2006; Perrini et al., 2007). While exec-

utives in larger corporations may experience pressures

to realise short-term results, the owner of a small

family business, with a perspective on continuity, may

adopt a longer-term approach (Hoffman et al., 2006).

Nevertheless, the risks faced by an owner in terms of

personal financial investment, job security and status

may lead to different psychological pressures, where

conflicts of interest cannot be excluded.

The aim of this study, then, is to uncover how

small-business owners understand the notions of

corporate responsibility, business ethics and related

concepts. Particularly, the aim of this research is to

reveal whether small-business owners see business

ethics and CSR as interchangeable concepts, and

whether in their mind CSR and sustainability cover

similar issues. In addition, the analysis will verify

how small-business owners position philanthropy in

relation to CSR and business ethics related concepts.

Methodology

Repertory Grid Technique

As explained above, a cognitive and constructivist

approach has been identified as appropriate. In line

with the cognitive and constructivist approach as

set out above, the knowledge structures of small-

business owner–managers concerning CSR and related

concepts will be established and compared, albeit

with the caution that few (if any) mapping methods

can truly claim to represent human cognition. Our

aim was to understand how small-business owner–

managers construe their world and, more particu-

larly, we wanted to know how they understand or

make sense of concepts related to CSR and business

ethics, and how they represent and distinguish among

the ideas and thereby impose meaning on organisa-

tional issues. The Repertory Grid Technique (RGT)

is consistent with such an interpretive perspective

(Fransella et al., 2004) and with the aim of drawing

knowledge structures. RGT is an interviewing

technique, underpinned by Kelly’s Personal Con-

429Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

struct Theory (1955) on cognition. In order to

guarantee the validity of the maps, the used methods

should be based on a proper theoretical basis (Eden,

1992; Eden and Spender, 1998).

Kelly’s Personal Construct Theory provides a

fundamental framework for both theoretical and

applied studies of knowledge acquisition and repre-

sentation. In line with the cognitive and constructive

view as set out above, Kelly depicted people as

scientists who try to understand the world around

them by developing and testing their own (implicit)

theories. Kelly’s Personal Construct Theory people’s

actions as being determined by how they understand

situations and people. Kelly’s Personal Construct

Theory posits that bipolar constructs (or dimensions)

(such as nice vs. awful) are the primary mechanism

that individuals use to organise, simplify and interpret

the mass of stimuli which confront them. One’s

understanding of the world is thus the result of an

active process (Marsden and Littler, 2000; Tan and

Hunter, 2002), which Kelly (1955, p. 50) termed as

‘construing’. Constructs have a function for the indi-

vidual. They serve as tools to make up the view of

the world by continuous (dis)confirmation, thus

to ‘construe’ reality (Kelly, 1955). Constructs are

organised in systems, often hierarchical in structure.

Hence, Kelly introduced the notion of a psychological

space as a term for a region in which people may place

and classify their experience, a kind of knowledge

structure. People have different constructs for differ-

ent areas and constructs can change through experi-

ence (Kelly, 1955).

The RGT then may be considered a method of

exploring constructs and construct systems. The

RGT elicits bipolar constructs through an interview

in which a set of elements (in our case, concepts

related to CSR and business ethics) is provided, and

questions are asked about the relationships between

these elements. To put it another way, the RGT

aims to identify mental categorisations (Huff, 1990)

which are developed from perceived similarities and

differences in the attributes of the objects or events

being classified, and which are then related to one

another to form an overall knowledge structure.

Besides the sound theoretical foundation of RGT

in the social science tradition, there are other reasons

why we chose this mapping method. As noted, there is

a dearth of methods available for capturing actors’

mental representations, and the RGT is a method

proven to minimise researcher bias compared to

other mapping methods (Easterby-Smith et al., 1996;

Ginsberg, 1989). It also allows one to elicit dimensions

that could be lost using other methods (Reger, 1990a),

and it is useful with participants who are unlikely to

complete surveys (Rynes et al., 2007). The RGT also

permits a mixed method approach such as combining

content analysis and categorisation, statistical measures

and multidimensional scaling methods (Bood, 1998).

The repertory grid tries to reconcile two opposing

traditions in the social sciences: a contextual rich

interpretation with a pure mathematical elegance.

The RGT has found many applications within dif-

ferent disciplines such as (clinical) psychology (Leach

et al., 2001), marketing (Henderson et al., 2001),

strategic management (Daniels et al., 1994; Reger and

Palmer, 1996) and sport management (Balduck et al.,

2010), although it is not yet used extensively in

business and society fields (Bendixen and Thomas,

2000). By applying a content analysis, dictionary

knowledge that compromises commonly held

descriptions and refer to content (Sackmann, 1992), is

revealed (Bood, 1998). Using more complicated anal-

yses (such as multidimensional scaling) may reveal

axiomatic knowledge (Bood, 1998; Hodgkinson,

2005) that refers rather to reasons and explanations, to

the ‘why’ things and events happen (Sackmann, 1992).

Sample

The target group for our study was small-business

owner–managers and, hence, interviewees were

both managers and owners, or at least major share-

holders, of their company.

Given the variety of small businesses, it was nec-

essary to further limit the target group (Longenecker

et al., 1996). Only small businesses that fitted with a

specified organisational structure and covered at least

three functional areas with different functional staff

were included. Further, the companies had to be

located in Belgium and, to keep our sample homo-

geneous, we restricted our search to Dutch-speaking

business owners. Except for a few recent starters, the

small-business owners included in our random sam-

ple had been running their business for at least last

5 years. When using the RGT, a sample of 15–25

interviewees within a population is deemed adequate

to generate sufficient constructs to approximate the

430 Yves Fassin et al.

universe of meaning surrounding a given situation

(Easterby-Smith, 1980; Ginsberg, 1989; Shane and

Stuart, 2002). Potential interviewees were recruited

from a database of 200 small-business owners who

had followed a short general management course at a

local business school and who fulfilled the condi-

tions described above. At random, 30 of these

owner–managers were invited by post to participate

in the RGT interviews. Fifteen small-business entre-

preneurs reacted positively. To ensure a sufficient

variety in the sectors represented, eight additional

small-business owners were selected from the com-

mittee of the national federation of industries or were

added through referral by the initial group. In this

way, we were able to hold RGT interviews with 23

diverse small-business owners, which took place in

the last quarter of 2006 and the first quarter of 2007.

More than half of the 23 interviewees had taken

over the family business. A few of the interviewees

had started their own company from scratch; and five

of them had acquired their business, sometimes

through a management buyout. Nearly half of the

businesses were production firms, one-third were

solely involved in distribution activities, and one-fifth

were in the business of supplying services. Except for

the construction (4) and the IT (3) sectors, no other

sector had more than two representatives. The

number of employees varied from 5 to 170, with the

majority having between 15 and 50 employees. Only

four of the firms had more than 50 employees and

only four fewer than 15. Half of the interviewees had

a university degree. Their ages varied from 35 to 60,

with most around 40–45 years old. Of the 23 inter-

viewees, only two were female.

Design of the study

As noted above, RGT elicits bipolar constructs

through an interview where a set of elements is

provided, and questions are asked about the rela-

tionships between these elements.

The elements used in the RGT in our interviews

were supplied by ourselves (Kaish and Gilad, 1991)

since the intention was to learn more about a given

set of elements and to compare the respondents’ re-

sponses (Reger, 1990b). 2

The elements chosen were

naturally related to CSR and business ethics, and

selected on the basis of their acceptance as concepts in

the broader business society and on the basis of their

importance in the academic literature. A citation

analysis based on the ABI-Inform Proquest database

in Table I shows the evolution in the number of

citations of various business and society concepts.

TABLE I

Quantitative literature overview (citation analysis) of concepts related to CSR and business ethics 1975–2008

(Umi-Proquest database)

Concept 1975 1980 1985 1990 1995 2000 2005 2008

Business ethics 39 87 527 1965 4002 7745 12,658 15,002

Corporate governance 1 65 135 300 1599 6292 19,884 25,228

Corporate social responsibility 228 618 1066 1585 2287 3155 5562 7374

Sustainability a

18 72 313 836 3266 8120 20,162 30,963

Stakeholder 4 31 108 356 1298 3845 10,127 14,583

Safety 1414 3468 7289 16,475 39,339 71,337 108,811 128,734

Code of ethics 104 258 635 1263 2112 2927 4042 4691

Philanthropy 39 108 230 649 1731 3062 4312 5303

Shareholder value 1 6 73 505 970 2630 4443 5531

Corporate citizenship 6 13 19 38 80 171 534 778

Triple bottom line 1 5 7 10 44 180 274

Total 564,028 748,752 1,145,204 2,033,701 4,143,111 6,589,418 9,390,594 10,854,035

Cumulative absolute number of articles on ABI-Proquest database, every 5 years at the end of the year, December 31st,

except, for 2008, end of June, which gives a half-period of two and a half years. a Retrieved on sustainab to combine sustainability and sustainable development.

431Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

The initial selection contained 20 elements that

included the six major concepts from Egels (2005)

analysis, some additional sub-domains and some

differing concepts such as shareholder value. Ele-

ments that were similar were combined in a single

element. At this stage, 13 elements were retained

covering a mix of business- and society-related sub-

jects, and practical and strategic topics. A test case

with these 13 elements was carried out. Owing to the

time needed and difficulties when supplying 13 ele-

ments for RGT purposes and since it is argued that,

when using triadic combinations, the number of

stimuli (in our case elements) may be relatively small

(Bijmolt and Wedel, 1995), it was decided to con-

tinue with nine elements chosen by two experts. We

ensured that these nine elements were representative

and provided adequate coverage of the aspects being

examined (Easterby-Smith, 1980; Easterby-Smith

et al., 1996). The retained elements included five

central elements: business ethics, corporate gover-

nance, CSR, stakeholder management and sustain-

ability. In addition, the list included the notion of

shareholder value (as opposed to stakeholder man-

agement) to allow for better differentiation (Hendry,

2001), and the two sub-domains of ethical code (or

charter) and safety. Finally, the notion of philan-

thropy was explicitly retained to investigate its rela-

tionship to CSR since the classical view sees

philanthropy as an element of CSR (Carroll, 1991)

whereas the European Commission view does not

(EC, 2001). As the study was carried out in the

Dutch-speaking part of Belgium, all the elements

were supplied with a Dutch translation of the English

terminology. The translations of the original English

terms into Dutch were agreed by three independent

experts.

The elements were written on individual cards.

At the beginning of each interview, it was checked

whether the interviewee understood all nine ele-

ments (Fransella et al., 2004; Janckowicz, 2003).

Next, the interviewee was asked to randomly take

three cards. 3

Bipolar constructs were then elicited

using the minimum context form (for a detailed

description of various options see Neimeyer, 2002).

The respondent was asked to identify and label the

two most-alike elements, and explain why the third

element was different (Kelly, 1955). Up to six

additional bipolar constructs (relevant for my

company vs. not relevant; practical concept vs.

theoretical concept; opportunism, marketing or

public relations vs. sincere conviction; ethical

concept vs. has nothing to do with ethics; decency

of governance vs. has nothing to do with decent

governance; fashion or hype vs. classic concept)

were then supplied if the respondent had not given

these constructs in the elicitation exercise. To

analyse the relationships between the bipolar con-

structs and the set of elements, rating (using a se-

ven-point Likert scale) as a linking mechanism was

selected. We opted for row-wise rating which re-

quires a respondent to consider one construct at a

time and rate all the other elements in terms of this

one (Neimeyer, 2002). This approach enables in-

terviewees to compare and evaluate one element

versus another and will lead to less use of midpoints

(Metzler et al., 2002).

While administering the RGT interviews, most

interviewees spontaneously gave comments pointing

to links and contrasts between the various concepts.

Notes of such individual comments and digressions

on specific issues were taken, analysed and classified

to provide additional qualitative insights. A number

of these quotes are further used to illustrate the

opinions held by small-business owners. During the

interview, the interviewers took care not to offer

cues, as this would impose the researcher’s own

cognitive structure (Reeve et al., 2002; Tolliver and

Neimeyer, 2002).

Data analysis

In total, 226 constructs were provided by the 23

interviewees, such as strategic versus operational,

essential versus nice to have, manipulative versus

neutral. The number of constructs produced per

interviewee varied from 6 to 14 (M = 9.26; Me = 10;

SD = 2.12). The rating process resulted in 23 (being

the number of interviewees) two-dimensional (2D)

matrices containing numerical values (Grice, 2002).

All the matrices were subjected to a content analysis

and used in the basic and explorative statistical analysis.

Content analysis

A content analysis was used to compare the

constructed systems across individuals. First, an

432 Yves Fassin et al.

inventory of the elicited bipolar constructs was

established by listing all the provided constructs.

Then, these were categorised following the proce-

dure set out by Janckowicz (2003). Two researchers

independently placed the bipolar constructs in freely

chosen categories including a miscellaneous cate-

gory. In order to interpret the labels applied,

researchers used the individual comments made

during the interview. After this, the individual cat-

egorisations were compared and measures of agree-

ment calculated. Inter-rater agreement, based on

percentage agreements of the constructs that were

allocated to categories that the researchers agreed

upon, amounted to 77.8%. These findings indicate

that the content analysis can be considered as reli-

able. After this exercise, both researchers negotiated

their findings and reached a full consensus on the

categorisation of the bipolar constructs as shown in

Table II.

Out of the 226 elicited constructs, 20 different

categories emerged that were mentioned by at least

three participants (see Table II). The ‘relevance for

the own situation’ was the most spontaneously

elicited concept and proffered by nearly 75% of the

participants. Three other constructs were raised by

more than 60% of the respondents: ‘essentiality’, the

degree of ‘voluntariness versus compliance’ and

‘profitability versus values’. More than half raised the

constructs ‘goal versus means’, ‘operational versus

strategic’, ‘degree of formality’, ratio materiae ‘broad

versus narrow’ and ‘single versus multiple stake-

holders’.

TABLE II

Content analysis indicating category names, category descriptions and examples of best fitting constructs (N = 23)

Construct category No. of

constructs

within

category

Relevance for the own situation 19 8.41 17 73.91

Essentiality 18 7.96 14 60.87

Degree of voluntariness vs. compliance 17 7.52 14 60.87

Profitability vs. values 17 7.52 14 60.87

Goal vs. mean 15 6.64 13 56.52

Operational vs. strategical 14 6.19 12 52.17

Degree of formality 13 5.75 12 52.17

Ratio materiae: broad vs. narrow 12 5.31 12 52.17

Single vs. multiple stakeholders 12 5.31 12 52.17

Internal vs. external 13 5.75 11 47.83

Short vs. long term 11 4.87 11 47.83

Ethical content 11 4.87 11 47.83

Practical vs. theoretical 9 3.98 9 39.13

Private vs. businesslike 8 3.54 8 34.78

Opportunism vs. conviction 9 3.98 7 30.43

Clearness 7 3.10 6 26.09

Fashion vs. classic concept 6 2.65 6 26.09

Decency of governance 5 2.21 5 21.74

Degree of solidity (versus deviability) 6 2.65 4 17.39

Positive vs. negative 4 1.77 3 13.04

Total (N = 23) 226 23

433Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

Weighted Multidimensional Scaling (WMDS)

Since the bipolar constructs in each individual

repertory grid tend be different, as they were based

on individual interviews, statistics which assume

conformable dimensions should not be used for

parallel analysis of data which have been aggregated

across the individual grids (Dunn and Ginsberg,

1986; Ginsberg, 1989). Hence, a more appropriate

method for exploratory statistical analysis, three-

way scaling or WMDS, was used. WMDS draws a

multidimensional space which allows one to deter-

mine the perceived relative image or key dimen-

sions of a set of objects (such as for example CSR

and business ethics-related concepts) (Hair et al.,

1998).

In our analysis, WMDS procedures, with the

ALSCAL algorithm in SPPS 15, were used. A 3D

solution, or group space configuration, was found to

be adequate. This solution accounted for 43% of the

variance, which is seen as acceptable (Hair et al.,

1998). 4

The solution thus is effective in showing

how the 23 small-business owners mentally capture

the researched management concepts.

Group space configuration

The aggregated judgements of the 23 interviewees

with respect to each management concept are plotted

in Figure 1 along the three most important dimen-

sions of the group space configuration and in

Figure 2 along the two most important dimensions.

As expected, the maps representing the group space

did not reflect a degenerate solution. Degenerate

solutions are characterised by either a circular pattern

in which all the objects or elements are shown to be

equally similar, or a clustered solution in which the

objects are grouped at the two ends of a single dimen-

sion. Degenerate solutions are most often caused by

inconsistent data, which may indicate that the ele-

ments offered have no meaning for the respondents

(Hair et al., 1998). Table III shows the stimulus

coordinates associated with the 3D solution which are

analogous to factor loadings in a conventional prin-

cipal component analysis. By interpreting these

stimulus coordinates, the three dimensions can be

given names as shown in Figure 1 (Hair et al., 1998).

The first dimension found for the 3D common

space shared by the 23 interviewees seemed to rep-

resent the ‘abstract vs. concrete’ dimension: reflected

by the high stimulus coordinates for corporate

governance (1.22), ethical code (1.01) and business

ethics (0.94) at one end of this dimension, and for

stakeholder management (-1.29), shareholder value

(-1.26) and philanthropy (-1.41) at the other

Figure 1. Three-dimensional (3D) group space repre-

senting the nine elements for the full sample of intervie-

wees (N = 23; stress = 0.21; RSQ = 0.43) (ALSCAL

level = ordinal).

TABLE III

Stimulus coordinates associated with the 3D group

space representing the nine elements for the full sample

of interviewees (N = 23; stress = 0.21; RSQ = 0.43)

(ALSCAL level = ordinal)

Element Dim 1 Dim 2 Dim 3

Corporate governance 1.22 -1.16 0.59

Safety -0.02 -1.35 -1.34

Business ethics 0.94 0.95 -0.88

Ethical code/charter 1.01 0.59 -1.12

Stakeholder management -1.29 0.19 0.81

Shareholder value -1.26 -1.49 0.09

Sustainability 0.58 0.30 1.33

Philanthropy -1.41 1.35 -0.79

CSR 0.22 0.63 1.33

434 Yves Fassin et al.

extreme. The second dimension appeared to reflect

‘the corporate vs. societal’ dimension as demon-

strated by high stimulus weights for philanthropy

(1.35) and business ethics (0.95) at one extreme, and

for shareholder value (-1.49), safety (-1.35) and

corporate governance (-1.16) at the other. The

third dimension seemed to indicate a ‘common vs.

particular’ focus. This was demonstrated by high

stimulus coordinates for CSR (1.33), sustainability

(1.33) and stakeholder management (0.81) at one

end, and for safety (-1.34), ethical code (-1.12),

business ethics (-0.88) and philanthropy (-0.79) at

the other. Shareholder value (0.09) seemed to be

seen as a neutral concept in terms of this dimension.

The Euclidean distance within the 3D space, as

shown in Table IV, between CSR and sustainability

was low (0.49). In the same way, business ethics and

an ethical code were found to be close, with the

Euclidean distance between these concepts being

low (0.44).

Business ethics was approximately equidistant

from CSR and corporate governance (see Figure 1).

The Euclidean distance within the 3D space between

business ethics and CSR was 2.35, and between

business ethics and corporate governance 2.59. The

distinction between business ethics and CSR was

mainly due to differences within the third dimension

(common vs. particular), whereas the distinction

between business ethics and corporate governance

stemmed from the second dimension (corporate vs.

societal. The Euclidean distance between CSR and

corporate governance amounted to 2.18, again

stemming from the second dimension. The Euclid-

ean distances between stakeholder management and

TABLE IV

Euclidean distance between the concepts within the 3D solution

Element Corporate

governance

Safety Business

ethics

Ethical

code

Stakeholder

management

Shareholder

value

Sustain-

ability

Philan-

thropy

CSR

Corporate governance 0.00 3.40 2.59 2.46 2.86 2.55 1.76 3.89 2.18

Safety 3.40 0.00 1.14 1.30 2.75 3.41 2.93 1.49 2.78

Business ethics 2.59 1.14 0.00 0.44 2.90 3.43 2.33 2.39 2.35

Ethical code 2.46 1.30 0.44 0.00 3.03 3.31 2.50 2.56 2.57

Stakeholder management 2.86 2.75 2.90 3.03 0.00 1.83 1.94 1.98 1.66

Shareholder value 2.55 3.41 3.43 3.31 1.83 0.00 2.85 2.98 2.87

Sustainability 1.76 2.93 2.33 2.50 1.94 2.85 0.00 3.09 0.49

Philanthropy 3.89 1.49 2.39 2.56 1.98 2.98 3.09 0.00 2.77

CSR 2.18 2.78 2.35 2.57 1.66 2.87 0.49 2.77 0.00

Corporate Governance

Safety Shareholder

Value

Sustainability

CSR Ethical code

Business Ethics

Stakeholder Management

Philanthropy

-2.00

-1.50

-1.00

-0.50

0.00

0.50

1.00

1.50

-2.00 -1.50 -1.00 -0.50 0.00 0.50 1.00 1.50

Dimension 1

D im

e n

s io

n 2

Figure 2. Two dimensions of the 3D group space representing the nine elements for the full sample of interviewees

(N = 23; stress = 0.21; RSQ = 0.43) (ALSCAL level = ordinal).

435Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

respectively business ethics, corporate governance

and CSR were 2.90, 2.86 and 1.66.

Philanthropy seemed to stand alone as this

concept had high stimulus coordinates on the

concrete and societal dimensions (-1.41 and 1.35,

respectively). Philanthropy presented the highest

Euclidean distances from the previously discussed

concepts.

Descriptive statistics of constructs

Table V shows, for those bipolar constructs which

were most often mentioned by the interviewees and

for the six supplied, the descriptive statistics for

ratings given by the interviewees for each combi-

nation of element and bipolar construct category.

In the rating system, the right pole of the con-

struct was rated 7, and the left pole 1. Thus, a high

score indicates that the right pole of the bipolar

construct category is more applicable, and a low

score means the left pole is applicable.

Comparing the nine concepts, shareholder value

was considered the most strategic (M = 5.43), goal-

oriented (M = 5.13) and internal concept (M =

5.31). Safety was regarded as the most formal

(M = 5.69), practical (M = 5.87), operational (M =

3.36) and least voluntary (M = 4.88) concept. Phi-

lanthropy was perceived as being the most voluntary

(M = 3.00), informal (M = 2.54), narrow (M = 3.08)

and least essential element (M = 2.67). Business ethics

was considered as the broadest (M = 5.92), the most

value-oriented (M = 5.69) and the most ethical ele-

ment (M = 6.57).

CSR was conceived as the most theoretical of

the nine concepts (M = 3.83), as opposed to safety

(M = 5.87), business ethics (M = 5.48) and share-

holder value (M = 5.17) which were perceived as

being ‘very’ practical. Shareholder value (M = 2.58)

and philanthropy (M = 2.92) were seen as addressing

any one stakeholder, while the other concepts ad-

dressed multiple stakeholders.

Business ethics (M = 6.57), ethical code (M =

5.43), sustainability (M = 5.17) and CSR (M = 5.13)

were all viewed as very ethical concepts. All the

concepts, except for philanthropy (M = 2.35), were

considered to be highly related to the decency of

governance, especially corporate governance (M =

6.61), business ethics (M = 5.65) and stakeholder

management (M = 5.35). Most of these concepts

were believed to be pursued by conviction and not by

opportunism or marketing reasons since, for all the

concepts, the mean scores were towards the convic-

tion pole (M < 4). Most concepts were perceived as

rather classical notions, except for CSR which was

regarded as the most fashionable of the nine concepts

(M = 4.09).

Additional analysis of average standard deviations

for the nine concepts and bipolar construct categories

provides further information on how the meanings

of the interviewees converge or diverge. Opinions

about CSR (SD = 1.58), sustainability (SD = 1.62)

and stakeholder management (SD = 1.63) had low

standard deviations, indicating that perceptions about

these concepts were in general shared. On the other

hand, ethical code and philanthropy relatively dis-

played the widest divergences in perceptions with

the highest standard deviations (SD = 2.05 and 1.99,

respectively).

When considering only the five core concepts

(business ethics, corporate governance, CSR, stake-

holder management, sustainability) out of the set of

nine (see Figure 3), an important distinction among

the various bipolar construct categories was found.

For each construct, the difference between the

highest and the lowest of the mean scores for the five

concepts was calculated. These differences between

means ranged from 2.5 for ethical content to 0.5 for

strategic character. Large differences between the

means were found for the following bipolar construct

categories: the degree of formality, businesslike or

private character, values versus profitability, relevance

of the own situation, practical versus theoretical

aspect, and decency of governance. Small differences

between average means were found for strategic

content, the long-term approach, goal versus mean,

multiple stakeholders’ attention, conviction and

breadth; broad versus narrow.

The five central concepts all produced high means

for the long-term orientation (M > 5.09) and stra-

tegic importance (M > 4.64) bipolar construct cat-

egories. Business ethics was considered the most

essential concept (M = 5.56), followed by corporate

governance (M = 5.39) and stakeholder manage-

ment (M = 5.16). Small-business owners almost

unanimously considered (SD = 0.82) business ethics

to be very relevant for their company (M = 6.30),

followed by safety (M = 5.57) and shareholder value

436 Yves Fassin et al.

(M = 5.17). The radar graph (see Figure 4) visualises

the differences in the perceptions of the various

constructs related to the business ethics and CSR

concepts. The radar view in Figure 5 illustrates the

close association in the perceptions of CSR and of

sustainability. This graph also illustrates the clear

segregation between CSR and philanthropy.

Comments by small-business owners–managers

The comments of small-business owners–managers

supported the interconnections and the differences

found between the terms. Many quotes stated pre-

cisely the relationship or the hierarchy between the

elements. Further, some specific constructs received

7 Ethical content

Degree of formality

Businesslike vs. private

Values vs. profitability

Relevance for the own situation

Practical vs. theoretical

Decency of governance

Fashion vs. classic concept

Internal vs. externalEssentiality

Degree of compliance vs. voluntariness

Broad vs. narrow

Opportunism vs. conviction

Multiple vs. single stakeholders

Goal vs. mean

Long vs. short term

Strategic vs. operational

Business ethics

CSR

Figure 4. Business ethics versus CSR.

Business ethics Corporate governance CSR Stakeholder management Sustainability

Figure 3. Construct comparison for the five central concepts.

437Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

T A

B L E

D e sc

ri p ti v e

st at

is ti c s

o f

ra ti n g s

p e r

e le

m e n t-

c o n st

ru c t

c o m

b in

at io

n o f

th e

su p p li e d

c o n st

ru c ts

(N =

2 3 )

D im

e n si o n

S u p p li e d /

e li c it e d

c o n st

ru c t

R e sp

o n -

d e n ts

C o n s-

tr u c ts

B u si n e ss

e th

ic s

C o rp

o ra

g o v e rn

an c e

C S R

S ta

k e h o ld

e r

m an

ag e m

e n t

S u st

ai n ab

il it

M S D

R e le

v an

c e

fo r

th e

o w

n si tu

at io

n S u p p li e d

2 3

6 .3

0 0 .8

2 5 .0

4 2 .0

6 4 .6

1 1 .5

3 5 .0

4 1 .7

2 4 .7

4 1 .8

E th

ic al

c o n te

n t

S u p p li e d

2 3

6 .5

7 0 .6

6 4 .5

2 1 .7

3 5 .1

3 1 .4

9 4 .0

4 1 .9

4 5 .1

7 1 .5

D e c e n c y

o f

g o v e rn

an c e

S u p p li e d

2 3

5 .6

5 1 .4

3 6 .6

1 0 .5

8 5 .0

4 1 .4

9 5 .3

5 1 .1

1 5 .1

3 1 .4

P ra

c ti c al

v s.

th e o re

ti c al

S u p p li e d

2 3

5 .4

8 1 .3

8 4 .6

5 1 .8

2 3 .8

3 1 .5

6 4 .3

9 1 .8

5 4 .8

7 1 .7

O p p o rt

u n is m

v s.

c o n v ic

ti o n

S u p p li e d

2 3

2 .5

2 1 .6

5 2 .6

1 1 .6

4 3 .2

6 1 .4

5 3 .0

4 1 .4

3 2 .8

7 1 .4

F as

h io

n v s.

c la

ss ic

c o n c e p t

S u p p li e d

2 3

2 .7

0 1 .9

9 3 .5

7 2 .1

1 4 .0

9 1 .6

2 2 .8

3 1 .5

6 3 .5

2 1 .9

E ss

e n ti al

it y

E li c it e d

1 4

1 8

5 .5

6 1 .4

6 5 .3

9 2 .0

3 4 .6

1 1 .2

9 5 .1

7 1 .2

9 4 .5

0 1 .5

D e g re

e o f c o m

p li an

c e

v s.

v o lu

n ta

ri n e ss

E li c it e d

1 4

1 7

3 .1

2 2 .2

0 3 .5

3 2 .1

2 3 .4

1 1 .9

4 3 .7

1 2 .0

8 4 .0

6 1 .6

G o al

v s.

m e an

E li c it e d

1 3

1 5

4 .2

0 2 .4

3 4 .0

0 2 .3

0 4 .6

7 2 .2

3 4 .1

3 2 .2

0 4 .2

7 2 .3

S tr

at e g ic

v s.

o p e ra

ti o n al

E li c it e d

1 2

1 4

5 .0

0 1 .6

2 5 .1

4 2 .3

8 5 .0

0 1 .5

2 4 .7

9 2 .1

9 4 .6

4 1 .9

V al

u e s

v s.

p ro

fi ta

b il it y

E li c it e d

1 4

1 3

5 .6

9 1 .3

2 4 .6

9 1 .4

9 5 .0

0 1 .2

2 4 .0

0 1 .4

7 4 .9

2 1 .4

In te

rn al

v s.

e x te

rn al

E li c it e d

1 1

1 3

4 .4

6 1 .8

1 5 .2

3 1 .3

6 3 .9

2 1 .3

2 4 .1

5 1 .7

7 3 .8

5 1 .2

D e g re

e o f

fo rm

al it y

E li c it e d

1 2

1 3

3 .1

5 2 .3

8 5 .3

1 2 .0

2 3 .6

9 1 .9

3 4 .0

8 1 .8

0 4 .3

8 1 .8

B ro

ad v s.

n ar

ro w

E li c it e d

1 2

5 .9

2 1 .0

8 5 .2

5 1 .3

6 5 .5

0 1 .6

2 5 .1

7 1 .2

7 5 .0

8 1 .5

M u lt ip

le v s.

si n g le

st ak

e h o ld

e rs

E li c it e d

1 2

4 .5

0 2 .0

2 4 .4

2 2 .3

5 4 .1

7 2 .0

8 4 .7

5 1 .8

2 4 .8

3 1 .8

L o n g

v s.

sh o rt

te rm

E li c it e d

1 1

5 .0

9 2 .0

2 5 .2

7 2 .0

0 5 .3

6 1 .5

0 5 .7

3 1 .1

0 5 .5

5 1 .2

B u si n e ss

li k e

v s.

p ri

v at

e E

li c it e d

8 8

4 .1

3 2 .3

6 5 .8

8 1 .8

9 6 .0

0 1 .0

7 5 .6

3 1 .1

9 5 .8

8 0 .9

A v e ra

g e

S D

p e r

e le

m e n t

1 .6

8 1 .8

4 1 .5

8 1 .6

4 1 .6

T o ta

l N

re sp

o n d e n ts

= 2 3

438 Yves Fassin et al.

T A

B L E

c o n ti n u e d

D im

e n si o n

S u p p li e d /

e li c it e d

c o n st

ru c t

R e sp

o n -

d e n ts

C o n s-

tr u c ts

P h il an

th ro

p y

S h ar

e h o ld

e r

v al

u e

S af

e ty

E th

ic al

c o d e /

c h ar

te r

A v e ra

g e

S D

M S D

R e le

v an

c e

fo r

th e

o w

n si tu

at io

n S u p p li e d

2 3

3 .5

2 2 .1

5 5 .1

7 1 .4

7 5 .5

7 1 .5

6 4 .0

4 1 .9

2 1 .6

E th

ic al

c o n te

n t

S u p p li e d

2 3

4 .1

3 2 .2

6 2 .6

1 1 .4

7 4 .0

9 2 .0

7 5 .4

3 2 .0

4 1 .6

D e c e n c y

o f

g o v e rn

an c e

S u p p li e d

2 3

2 .3

5 1 .5

8 5 .1

3 1 .2

5 5 .2

6 1 .6

3 4 .3

9 2 .2

3 1 .4

P ra

c ti c al

v s.

th e o re

ti c al

S u p p li e d

2 3

4 .0

0 2 .3

0 5 .1

7 1 .7

0 5 .8

7 1 .4

6 4 .3

9 1 .9

2 1 .7

O p p o rt

u n is m

v s.

c o n v ic

ti o n

S u p p li e d

2 3

3 .6

5 1 .9

0 3 .0

0 1 .7

8 2 .7

0 1 .6

4 3 .4

3 1 .9

7 1 .6

F as

h io

n v s.

c la

ss ic

c o n c e p t

S u p p li e d

2 3

2 .8

3 1 .7

0 2 .2

6 1 .6

3 2 .5

2 1 .6

5 4 .0

0 2 .0

2 1 .8

E ss

e n ti al

it y

E li c it e d

1 4

1 8

2 .6

7 1 .5

3 4 .6

1 1 .5

4 5 .0

6 2 .1

0 4 .5

0 1 .9

2 1 .6

D e g re

e o f

c o m

p li an

c e

v s.

v o lu

n ta

ri n e ss

E li c it e d

1 4

1 7

3 .0

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m e an

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1 5

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at e g ic

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1 2

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p ro

fi ta

b il it y

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1 4

1 3

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8 2 .4

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rn al

v s.

e x te

rn al

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1 1

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2 .4

6 1 .3

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1 2

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v s.

sh o rt

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T o ta

l N

re sp

o n d e n ts

= 2 3

439Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

additional comments, especially the private versus

company aspect, the relevance for their own situation

(often compared to larger companies) and the fash-

ionable versus classical debate. Other specific remarks

concerned shareholder value, safety and philanthropy.

Many quotes pointed to perceived similarities

between some of the major concepts; especially CSR

and sustainability were frequently cited as being

similar: ‘CSR and sustainable development cannot

exist without each other’. ‘Sustainability and social

responsibility belong together’. Other overlapping

concepts were also signalled: ‘Corporate governance,

business ethics and CSR are on the same line; they fit

together’.

Great importance was attached to the bipolar

construct category of businesslike versus private. The

following testimonial of a small-business owner

illustrates this finding: ‘Ethics is something very per-

sonal, that belongs to the person not to the firm’.

Many small-business owners linked this to their

education: ‘This is something that is inside you’; ‘you

receive it from home’; ‘you have this from your

education’. Especially philanthropy seemed to be

placed in the personal sphere. Belgian entrepreneurs

seemed to see philanthropy as a private activity, and as

an extra if the company can afford it. Other small-

business owners complained that philanthropy was

often misused for marketing and public relations

reasons.

Many interviewees reacted in a very philosophical

way about the fashionable aspects of some recently

promoted concepts. They considered most of the

concepts as ‘old wine in new bottles’. Small-business

owners also seemed to use common-sense. Even

though not all interviewees could give a precise

definition of ‘CSR’, most seemed to have developed

social activities, and they effectively executed CSR

intuitively and informally.

A number of entrepreneurs demonstrated a frus-

tration stemming from the dissonance between dis-

course and practice in large companies: ‘We often see

huge differences between the large and prominent

declarations in the press of marvellous concepts and

the reality in daily practice’. A good example was the

paradox highlighted by a small-business man active in

transport for oil multinationals: ‘Safety is important

for our customers but it must not cost’. However, the

salience of safety was clearly acknowledged by small-

business owners. ‘Safety is always necessary; there is

no room for discussion over this, even in difficult

times’. Some small-business owners complained that,

here, the regulations sometimes went too far, too

0,00

1,00

2,00

3,00

4,00

5,00

6,00 Ethical content

Values vs. profitability

Internal vs. external

Decency of governance

Essentiality

Businesslike vs. private

Relevance for the own situation

Long vs. short term

Strategic vs. operationalOpportunism vs. conviction

Goal vs. mean

Broad vs. narrow

Fashion vs. classic concept

of compliance vs. voluntariness

Multiple vs. single stakeholders

Degree of formality

Practical vs. theoretical

CSR

Sustainability

Philan-thropy

Figure 5. CSR, sustainability and philanthropy.

440 Yves Fassin et al.

much theory and ‘following the book’, and therefore

sometimes difficult to realise. ‘You cannot exclude all

risk, it is inherent to enterprise’.

A dynamic small-business owner argued that job

creation and continuation is the first responsibility of

business: ‘We accept that older collaborators perform

somewhat less, but we keep them on board and al-

low them to gradually decrease their activity. They

are as good soldiers, who have lost a leg in the battle;

we do not dump them, as multinationals do’.

Shareholder value was considered a key concept.

Shareholder value was pragmatically considered as a

sine qua non: ‘The survival of the firm is essential;

profit is a prerequisite for increased attention for

CSR and sustainability. When the means are missing

or when the business is not going well, there is less

room for CSR and sustainability’, observed an

entrepreneur.

A difference between a SME and a multinational

was reflected in a number of comments on the concept

of shareholder value. The valuation of a company had

not the same relevance for the SME as for a stock-

quoted company. The following quote illustrates this

point: ‘As a sole owner, I do not have to justify myself

to shareholders. I can act for the long term’.

Discussion

The fact that the group space configuration did not

contain any degenerate solutions demonstrates that

small-business owner–managers do have a knowledge

structure of concepts related to CSR and business

ethics. In addition, their knowledge structures

seemed to be quite comprehensible as to the differ-

ences between the various terms. Hence, we may

conclude that there is sensemaking amongst small-

business owners and that there is less confusion than

what academic theory might lead one to fear. Within

the literature, the most frequently mentioned char-

acteristics of entrepreneurs are a locus of control, a

need for achievement and a tolerance of ambiguity

(Begley, 1995; Begley and Boyd, 1987). Since the

concepts related to ethics and corporate responsibility,

as explained by academics, are rather ambiguous,

the tolerance of ambiguity held by entrepreneurs and

small-business owners might explain why they are

relatively well able to distinguish the differences

between the concepts (Morris et al., 2002). Even with

a limited knowledge of the theory, the respondents

were able to make a clear distinction between these

concepts. We may conclude that the more informal

approach to business ethics and CSR by small-busi-

ness owners tends towards the more ‘implicit’ form of

CSR (Matten and Moon, 2008; Murillo and Lozano,

2006; Russo and Tencati, 2009).

The content analysis revealed that the two most

important construct categories were ‘essentiality’ and

‘relevance for the own situation’. This indicates that

managers attach great importance to CSR and business

ethics related issues. Another very important construct

category was the degree of ‘voluntariness vs. compli-

ance’; showing that small-business owners differentiate

between what is prescribed by law or ‘must be done’

and ‘what could be done’. Also, whether ‘you do it for

money’ or ‘you believe in values’, as one of the in-

terviewees rephrased the ‘profitability vs. values’ cat-

egory seemed to preoccupy many small-business

owner–managers. Conversely, the construct category

‘decency of governance’ received less attention from

small-business owner–managers in their sensemaking.

The general knowledge structure (Figures 1, 2)

revealed that there is clearly more differentiation

between the five central elements (business ethics,

CSR, sustainability, stakeholder management and

corporate governance) than the interwoven use by

the press and other media and academia would lead

us to presume.

However, the study did suggest that CSR and

sustainability were very closely associated in the minds

of small-business owners. Both concepts had close

similarities and only differed in terms of a few bipolar

constructs. Sustainability was perceived as more

practical than CSR. In addition, sustainability was

associated with a longer-term vision, was regarded as

less voluntary, more operational, more formally ori-

ented and as addressing more stakeholders. This

finding supports both the general academic and cor-

porate discourse in which the notion of CSR was

traditionally focused on social issues but has gradually

integrated societal and environmental issues. In fact,

CSR can be seen as encompassing sustainability,

which corroborates the European Commission

approach, where the real objective of CSR is sus-

tainable development (Eberhard-Harribey, 2006). In

view of this evolution, corporate responsibility (without

the social) seems a more appropriate term (Enderle,

2004).

441Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

The group knowledge structure also delineated

CSR from corporate governance, and from stake-

holder management and business ethics. This finding

suggests that the frequent arguments of vagueness

and ambiguity in these concepts, as proposed by

many academic studies (see ‘‘Introduction’’ section),

are unjustified.

Figure 5 illustrates that terms such as business

ethics and CSR were not perceived as interchange-

able by the small-business owners interviewed. CSR

was considered more external, more theoretical,

more opportunistic and more businesslike than

business ethics, as reflected in the results in Table V.

Therefore, contrary to the statements in a number of

recent articles, business ethics and CSR should not be

considered as interchangeable concepts. This view

supports a recent exploratory study of Australian

managers which found that the managers saw a

considerable overlap between ethical and socially

responsible behaviour, but simultaneously made a

distinction between the ethical and socially respon-

sible actions of companies (Cacioppe et al., 2008).

The authors, therefore, suggested that CSR possesses

a somewhat greater macro-focus whereas ethical

behaviour has more of a micro-focus. That is, social

responsibility encompasses the environment and the

broader world while ethics is more closely linked to

behaviour and actions (Cacioppe et al., 2008).

When looking at Figure 1, it seems that the

Belgian small-business owners positioned business

ethics equally distant from corporate governance and

CSR. 3

Business ethics and corporate governance

were perceived most differently in terms of the

ethical content, formalism and business orientation

dimensions. Corporate governance was perceived as

substantially different from CSR in the dimensions

linked to ethical content, theoretical, conviction,

internal orientation and the degree of formalism (see

Table V). This finding emphasises the distinction

made between the principles of governance and the

practice of management.

Contrary to the interwovenness of stakeholder

management and CSR in the literature (Wheeler

et al., 2003), they were not perceived as closely

associated by small-business owners. Looking at

Table V, stakeholder management was placed some-

where between CSR, business ethics and corporate

governance, and was seen as having a long-term

perspective.

Small-business owners seemed to consider share-

holder value as a stand-alone concept and saw it as

having the most strategic importance. Notwith-

standing some academic discussion between stake-

holder theory and shareholder theory of the firm

(Hendry, 2001), the interviewees did not perceive

shareholder value and stakeholder management as

opposite concepts.

The general knowledge structure showed that an

ethical code was positioned close to business ethics

and was seen as a tool for achieving ethical behaviour.

Safety and philanthropy were perceived as rather

separate, or as different, from the other supplied

elements. Philanthropy was also considered to be at a

distance from CSR, as illustrated in Figure 4. Only

the constructs ‘practical vs. theoretical’ and the ‘de-

gree of voluntariness vs. compliance’ seemed to

coincide somehow. In the West-European social

environment, philanthropy was considered as basi-

cally a private activity.

The terminology used by the small-business

owners pointed to similarities between some of the

concepts, since often terms such as fit, equal, iden-

tical, synonymous, at the interface, complementary

to, in some hierarchical relation, an element of, a

means to, a consequence of… were used. This confirms the vagueness and lack of clarity in the

terminology, as discussed earlier.

The fact that job creation and job continuation

were the most recurring expressions of the social

responsibility of business, confirms the importance

of social and cultural sensitivities in family firms,

with their strong values and norms (Dyer, 1988; Hall

and Nordqvist, 2008).

Even if most small-business owner-managers

recognised the importance of shareholder value as a

prerequisite for creating wealth, and as a condition

for investing in CSR activities and delivering a re-

turn to society, shareholder value as such was not

that important a concept in the knowledge structures

of the small-business owners. They observed that

stock-quoted companies paid more attention to

shareholder value than they themselves did, and at

the cost of other elements in the firm. The ultimate

goal, the creation of wealth, remained the same, but

the small-business owners were followers of the

principle of satisfying behaviour, rather than the

maximisation principle of the homo economicus

approach. This finding supports research relating to

442 Yves Fassin et al.

family business values and culture (Denison et al.,

2004; Hoffman et al., 2006; Klein and Kellermanns,

2008).

Considering these findings, we may conclude that

shareholder value and CSR concepts are rather

complementary. Shareholder value, CSR and ethics-

related concepts are not mutually exclusive but

rather mutually reinforcing. It is not a question of

‘or’ but rather a question of ‘and’: CSR requires the

creation of shareholder wealth. Shareholder value is

essential for CSR, and CSR leads to shareholder

value. This may indicate that small-business owner-

managers adopt a pragmatic approach, and recognise

that profit is an important prerequisite for social

responsibility. This finding corresponds to many

press articles and consultants’ statements in support

of the academic discourse and debate as to whether

considering stakeholders leads to superior long term

performance and, as a consequence, to shareholder

value (Barnett, 2007). This also supports Carroll’s

(1991) assertion that the issue of ethical and phil-

anthropic activities is a moot point if economic

responsibilities are not first attended to.

These findings lead to some practical implications.

First of all, the clear and differentiated views of the

various concepts that the interviewees had, even

without a deep theoretical knowledge, may indicate

that indeed entrepreneurship does concern itself

with distinctive ways of thinking and behaving

(Busenitz and Barney, 1997). Further, this finding

questions the practical added value of many aca-

demic discussions concerning CSR and business

ethics-related fields, especially for small and med-

ium-sized firms. The fact that the small-business

owner-manager makes sense of these concepts sug-

gests that the various concepts have been rather well

introduced and disseminated in the business world

by channels other than academic literature. Perhaps

it signifies that practitioners form their cognitive

models independent from academic research (Abra-

hamson and Eisenman, 2001; Clarkson, 1995;

Newell et al., 2001). It could indicate that profes-

sional organisations and the general and popular

business press play a more important role in the

dissemination and interpretation of concepts related

to CSR and business ethics. Professional organisa-

tions add technical content and explain the concepts

in a practical and understandable way (Scarbrough,

2003). The general and popular business press builds

a legitimacy, and this results in the theories and

practices being accepted (Mazza and Alvarez, 2000).

The implication is that if authorities want to influ-

ence the perceptions of small-business owners, then

the channels to use are professional organisations and

the general and popular business press. The results

also indicate that small-business owner-managers are

rather pragmatic and so, if authorities want to

communicate matters related to CSR and business

ethics, a rather pragmatic approach is advisable.

Limitations and perspectives

This research adopted a cognitive and constructivist

perspective to investigate how small-business owner–

managers interpreted corporate responsibility and

ethics-related concepts. The general criticisms lev-

elled at cognitive theory and cognitive mapping

methods as explained above, are thus applicable to

this research (Cossette and Audet, 1992; Eden, 1992;

Eden and Ackermann, 1998). If we take Weick’s

aphorism seriously, that we do not know what we

think until we hear what we say, then the process of

articulation is a significant influence on present and

future cognition (Eden, 1992). Sensemaking is always

sense-in-the-making (Nicolini, 1999). In addition,

interviews are social events, where interviewer and

interviewee interact, hence they reflect a social

construction rather than the sole thoughts of the

interviewee (Eden and Ackermann, 1998). At best,

cognitive maps are artefacts of human reasoning

(Huff, 1990) and most methods demand interpretive

inputs from the researcher (Cossette and Audet,

1992). There are further reservations about particular

spatial techniques such as WMDS and the applied

algorithm ALSCAL used here. 5

Further comparative research could usefully

examine whether the CEOs of larger companies,

and owners of larger companies than the SMEs we

considered, make the same differentiations in their

perceptions (study which has been realized in

the meantime in Fassin and Van Rossem (2009)).

The generalisability of any study is constrained by

the nature of the sample. Although the sample used

was sufficient for the purpose of eliciting constructs

reflecting the universe of meaning surrounding a

given situation (Ginsberg, 1989), this sample is not

appropriate for drawing wider inferences.

443Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

In addition, further research should investigate

whether the conclusions regarding the distinctive

perceptions of the concepts can be extrapolated for

small-business owners in other countries (Matten

and Moon, 2008). While we would expect the

differences between individual views to be repeated,

the degree of differentiation in the aggregated

analysis may well vary according to national, re-

gional or linguistic criteria. This assumption stems

from studies on the impact of language and termi-

nology on the perception of concepts (Hansen et al.,

2004). 6

The results of this study therefore cannot

safely be extrapolated to all European countries. This

study was conducted in the Dutch speaking part of

Belgium. The translation of the original English

terminology for new management concepts into

other languages always leads to slight differences and

nuances, although thoroughly checked by indepen-

dent experts.

Furthermore, international research could inves-

tigate the effect of the marketing and dissemination

of concepts and terms in different countries and the

influence of culture. In this vein, Mitchell et al.

(2002) observed in their study of cognition and

culture that there was a universal culture of

entrepreneurship, but also noticed differences

among countries. Similar differences may be found

in small-business owner’s cognition of CSR and

related ethical business concepts. The dissemination

process for the concepts may also lead to different

patterns of adoption and often delays in reception

(Newell et al., 2000; Sturdy, 2004). For example,

the notion of stakeholder management Ans-

pruchsgruppe has only relatively recently been

introduced in Germany (Hansen et al., 2004), and

in France under the term les partis prenantes. Neither

term has achieved the same popularity as the

American term ‘stakeholder’.

Another limitation is the use in our research of

just nine concepts as elements. It must be admitted

that many more concepts have been developed in

the academic and business spheres. Although we

took great care in choosing the elements, it would

be useful to repeat this study with other concepts

related to CSR and business ethics as well. It would

also be worthwhile integrating the concept of

corporate citizenship in a study in the UK, where

the concept is more widely recognised than in most

of Europe.

Conclusion

Small-business owner–managers interviewed in our

research appeared to be less informed and unknowl-

edgeable of the discussion on the vagueness and

confusion of terms that monopolises much of the

recent research literature on CSR and business ethics.

Instead, in a pragmatic manner, practitioners form

their own cognitive models, independent of aca-

demic research and even without a thorough theo-

retical knowledge, based on their own perceptions.

They receive information through other channels,

mainly from their professional organisations and

simplified articles in the business press. This repertory

grid analysis of small-business owners’ cognitions has

led to the conclusion that sensemaking indeed occurs

among small-business owner-managers. The study

also illustrated a certain disconnect between aca-

demics and practitioners. Some understanding of the

real managerial world should be required of scholars

engaged in management research, especially in CSR

and ethics, as well as cognisance of the specific issues

that concern small-business and entrepreneurship

(Das, 2003). The study confirmed the importance of

social and cultural dimensions, such as values and

norms, in small family firms, where non-economic

rationales are considered in a long-term approach. In

a pragmatic way, the small-business owner has

recognised the complementarity between share-

holder value and CSR-related concepts.

This research has backed the academic literature

view that there is a close link between CSR and sus-

tainability, but rejected the idea that the terms business

ethics and CSR are interchangeable. The study

showed that corporate governance, CSR and business

ethics are complementary. The study also illustrated

that small-business leaders give corporate governance a

greater emphasis in the business and society fields than

most scholars find in their comparative studies on the

hierarchy of concepts (Egels, 2005; Schwartz and

Carroll, 2008). These findings contribute to a better

understanding of how small-business owner-managers

think and integrate corporate responsibility and ethical

issues into their decision-making.

The small-business owner-managers we talked to

embraced the distinctions between three basic

complementary concepts: corporate responsibility,

corporate governance and business ethics. Within

this framework, stakeholder management seemed to

444 Yves Fassin et al.

fulfil the role of facilitator. The three concepts

correspond to the three dimensions of management,

governance and values, while stakeholder manage-

ment represents the strategic dimension. These

concepts are essentially interrelated and intercon-

nected. All of the major concepts relating to business

and society complement and reinforce each other.

Notes

1 For example, SME Key, part of the European Business

Campaign on CSR, is a step-by-step guide published by

CSR Europe to help companies complete an internal au-

dit or publish a CSR report (GreenBiz.com, 2003). 2

Two major methods exist to generate elements

(Easterby-Smith et al., 1996): supply of elements, and

elicitation of elements. Supply of elements involves that

the researcher provides the elements. This is recom-

mended when the researcher is interested in learning

more about a given set of elements from various re-

search participants, when the researcher wants to test a

theory (Kaish and Gilad, 1991) and when the researcher

wants to compare responses of (groups of) respondents

(Reger, 1990a, b). Eliciting elements involves that the

research participant provides the elements. 3

Many variations are possible concerning the number

of elements considered in a sort (one, two, three or all

elements) and the way sorts are composed (e.g., at ran-

dom, predefined, etc.). 4

A 3D space increased the variance accounted from

34% to 43%. Also for reasons of clearness, a 3D solution

was withheld; nonetheless, this solution does not opti-

mally represent how the 23 interviewees mentally cap-

ture CSR and business ethics-related concepts. A 4D

solution increased the variance accounted from 43% to

44.43%. 5

The common space of WMDS is an aggregated map,

which has been criticised to ignore the influence of

group dynamics (Schneider and Angelmar, 1993). How-

ever, it was not our objective to look for intra-organisa-

tional differences within the entrepreneurial knowledge

structures. In addition, the used algorithm (ALSCAL)

bears an influence on the common spaces they generate

(Hair et al., 1998). ALSCAL uses the alternating least

squares approach to scaling. Also source weights associ-

ated with 3D scaling procedures lack true independence.

The source weights are only independently distributed

from one another conditional upon a given, unchanging

stimulus configuration (Hodgkinson, 2005). 6

The clear link between CSR and sustainability and

the clear delimitation from corporate governance and

business ethics on the one hand, and from stakeholder

management, on the other hand, may possibly have

slightly been influenced by the content and format of

the terms in the Dutch language: CSR (Maatschappelijk

Verantwoord Ondernemen or MVO) and sustainability

(Duurzaam Ondernemen) are used in Dutch in the

verb-form ondernemen (to enterprise), while corporate

governance (deugdelijk bestuur) uses the noun bestuur

(governance). The verb-forms of CSR and sustainability

compared with the noun-form of the other concepts

may contribute to the perception of that the first two

concepts are synonymous, thus reinforcing the all-

encompassing perception of CSR. This presumed link

may be less natural in other languages.

445Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

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r e t

al .

(2 0 0 3 )

JG M

g t

S u st

ai n ab

le d e v e lo

p m

e n t

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k e h o ld

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ap p ro

ac h

In te

rw o v e n

c o n c e p ts

x x

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am an

In k p e n

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k e h o ld

e r

th e o ry

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v al

u e

N o

re as

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x x

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ar ç a

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Ja c q u o t

(2 0 0 5 )

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k e h o ld

e r

m an

ag e m

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te re

sp o n si

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ll e

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le c tu

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Q B

E C

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ar o v e rl

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e (1

9 8 7 )

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IR C

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rm al

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e c t

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n (1

9 9 5 )

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k e h o ld

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rs e c ti o n

o f

c o n tr

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x x

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so n

(2 0 0 0 )

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S ta

k e h o ld

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S ta

k e h o ld

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is an

im p o rt

an t,

c o m

m o n ly

u se

d fr

am e w

o rk

fo r

B E

x x

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d o c k

(2 0 0 4 )

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S S ta

k e h o ld

in g

th in

k in

g C

S R

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o ra

te c it iz

e n sh

ip C

o n v e rg

in g

st re

am s

x x

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n an

d N

o rm

(2 0 0 8 )

B E

Q C

o rp

o ra

c it iz

e n sh

C S R

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ic al

b u si

n e ss

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al iz

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e th

ic al

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n e ss

p ra

c ti c e s

x x

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ar tz

an d

C ar

ro ll

(2 0 0 8 )

B E

Q C

S R

P h il an

th ro

p y

E th

ic al

re sp

o n si

b il it y

C o n c e p tu

al is

at io

n in

c at

e g o ri

e s

x x

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e n h o rs

t (2

0 0 4 )

Ie c

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th ro

p y

C S R

E x c lu

d e d

fr o m

x x

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d so

n (2

0 0 2 )

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Q S ta

k e h o ld

e r

th e o ry

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e h o ld

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v al

u e

T h e o ry

an d

p ra

c ti c e

x x

v an

M ar

re w

ij k

(2 0 0 3 )

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S u st

ai n ab

il it y

C S R

C o m

p ar

is o n

x x

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r an

P al

az zo

(2 0 0 7 )

A M

R C

S R

B E

S ta

k e h o ld

e r

m an

ag e m

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b re

ll a

te rm

fo r

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n e ss

an d

so c ie

ty x

x x

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s an

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u sz

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sk i

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ri p le

b o tt

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-l in

e C

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k e h o ld

e r

e n g ag

e m

e n t

In te

g ra

te d

ap p ro

ac h

x x

A p p e n d ix

A 446 Yves Fassin et al.

c o n ti n u e d

R e fe

re n c e

Jo u rn

al C

o n c e p t

I C

o n c e p t

2 A

d d it io

n al

c o n c e p ts

C o m

m e n t

T e rm

in o lo

g ic

al sh

o rt

c o m

in g s

T h e o re

ti c al

sh o rt

c o m

in g s

C la

ri ty

* V

ag u e * *

A m

b ig

.* * *

O v e rl

ap p in

g �

H ie

r. �

R e la

ti o n s�

� P

la c e � �

C ar

ro ll

(1 9 9 1 )

B H

o r

P h il an

th ro

p y

C S R

In te

g ra

te d

in x

C ra

n e

an d

M at

te n

(2 0 0 4 )

B o o k

P h il an

th ro

p y

C S R

In te

g ra

te d

in x

M at

te n

an d

M o o n

(2 0 0 8 )

B o o k

C S R

B E

C o rp

o ra

P h il an

th ro

p y

A c lu

st e r

c o n c e p t

w h ic

o v e rl

ap s

x x

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tt i

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P C

G C

S R

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o n g

c o m

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m e n ts

; p o si

ti v e ly

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te d

to m

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v al

u e

o f

th e

fi rm

x x

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d e n

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h e

an d

L o u c h e

(2 0 0 5 )

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P C

G C

S R

N o tw

it h st

an d in

g so

m e

in te

g ra

ti v e

in it ia

ti v e s,

re m

ai n

se -

p e ra

te c o n c e p ts

x x

Ja m

al i

e t

al .

(2 0 0 8 )

C G

IR C

G C

S R

In te

rr e la

ti o n

an d

in c re

as in

o v e rl

ap x

P ai

n te

r- M

o rl

an d

(2 0 0 6 )

B E

E R

C G

E th

ic s

m an

ag e m

e n t

S u st

ai n ab

il it y

A re

in te

rr e la

te d

an d

d e p e n -

d e n t

o n

e ac

h o th

e r

x x

M o rs

in g

an d

S c h u lt z

(2 0 0 6 )

B E

E R

C S R

S ta

k e h o ld

e r

m an

ag e m

e n t

R e la

ti o n s

an d

st ra

te g ie

s x

E p st

e in

(1 9 8 7 )

C M

R C

S R

B E

In te

rc h an

g e ab

le x

V o g e l

(1 9 9 1 )

C M

R C

S R

B E

In te

rc h an

g e ab

le x

F e rr

e ll

(2 0 0 4 )

A M

E C

S R

B E

In te

rc h an

g e ab

le x

S ta

u re

r e t

al .

(2 0 0 5 )

JB E

C S R

S u st

ai n ab

il it y

C o n v e rg

e to

si m

il ar

c o n c e p ts

x x

G ar

ri g a

an d

M e lé

(2 0 0 4 )

JB E

B E

C S R

S ta

k e h o ld

e r

m an

ag e m

e n t

C e n tr

al in

; g ro

u n d e d

in e th

c al

th e o ri

e s

x x

A g u il e ra

e t

al .

(2 0 0 6 )

C G

IR C

G C

S R

In c o rp

o ra

ti o n

o f

C S R

in C

G x

x x

E b e rh

ar d -H

ar ri

b e y

(2 0 0 6 )

C G

S u st

ai n ab

le d e v e lo

p m

e n t

C S R

M o re

g lo

b al

c o n c e p t

S ac

c o n i

(2 0 0 6 )

JB E

C S R

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M o d e l

o f

e x te

n d e d

C G

L u o

(2 0 0 6 )

B o o k

C S R

C G

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an t

p ar

t o f

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W ie

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(2 0 0 1 )

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E th

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G o v e rn

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E th

ic s

as g o v e rn

an c e

st ru

c tu

re x

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ar d -H

ar ri

b e y

(2 0 0 6 )

C G

C S R

B E

In sp

ir e d

b y

P o tt

s an

M al

u sz

e w

sk i

(2 0 0 4 )

C G

IR E

th ic

s C

G E

th ic

al ac

c o u n ta

b il it y

F re

e m

an an

d R

e e d

(1 9 9 4 )

C M

R S ta

k e h o ld

e r

th e o ry

C G

Im p li c at

io n s

o f

st ak

e h o ld

e r

th e o ry

o n

x x

E lk

in g to

n (2

0 0 6 )

C G

IR G

o v e rn

an c e

S u st

ai n ab

il it y

C ro

ss -c

o n n e c ti o n s

g o v e r-

n an

c e

& C

R x

M at

te n

e t

al .

(2 0 0 3 )

JB E

C o rp

o ra

c it iz

e n sh

C S R

S ta

k e h o ld

e r

m an

ag e m

e n t

R e la

ti o n s

A rt

h au

d -D

ay (2

0 0 5 )

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Q C

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T ri

-d im

e n si

o n al

ap p ro

ac h

C o n le

y an

W il li am

s (2

0 0 5 )

L aw

C S R

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k e h o ld

e r

C S R

as n e w

g o v e rn

an c e

P at

e r

an d

v an

L ie

ro p

(2 0 0 6 )

B E

E R

S ta

k e h o ld

e r

m an

ag e m

e n t

C S R

U se

o f

st ak

e h o ld

e r

th e o ry

im p le

m e n t

C S R

JB E

Jo u rn

al o f B

u si

n e ss

E th

ic s;

B S R

B u si

n e ss

an d

S o c ie

ty R

e v ie

w ; B

& S

B u si

n e ss

an d

S o c ie

ty ; B

E Q

B u si

n e ss

E th

ic s Q

u ar

te rl

y ; C

M R

C al

if o rn

ia M

an ag

e m

e n t R

e v ie

w ; C

G IR

C o rp

o ra

te G

o v e rn

an c e : A

n In

te rn

at io

n al

R e v ie

w ; C

C o rp

o ra

te G

o v e rn

an c e ; A

M E

A c ad

e m

y o f M

an ag

e m

e n t

E d u c at

io n ; A

M R

A c ad

e m

y o f M

an ag

e m

e n t

R e v ie

w ; G

e n

P G

e n e v a

P ap

e rs

; B

H o r

B u si

n e ss

H o ri

zo n ; O

S c

O rg

an is at

io n

S c ie

n c e ; JG

M g t

Jo u rn

al o f G

e n e ra

l M

an ag

e m

e n t;

C o n f

C o n fe

re n c e

P ro

c e e d in

g s;

C R

M g t

C o rp

o ra

te R

e sp

o n si

b il it y

M an

ag e m

e n t.

* C

la ri

ty in

te rm

in o lo

g y ;

* * V

ag u e n e ss

in c o n c e p tu

al is

at io

n ;

* * * A

m b ig

u it y

in in

te rp

re ta

ti o n s;

� O

v e rl

ap p in

g an

d si

m il ar

it ie

s; � H

ie ra

rc h ic

al p o si

ti o n in

g ;

� � R

e la

ti o n s

an d

c ro

ss c o n n e c ti o n ;

� � P

la c e

in e x is

it in

g fr

am e w

o rk

447Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

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Yves Fassin and Marc Buelens

Ghent University,

Vlerick Leuven Gent Management School,

Ghent, Belgium

E-mail: [email protected]

Annick Van Rossem

Hogeschool Universiteit Brussel,

Brussels, Belgium

453Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

http://www.fsa.gov.uk/pubs/ukla/lr_comcode3.pdf

Small-Business Owner-Managers’ Perceptions of Business Ethics and CSR-Related Concepts

Abstract
Introduction
Concepts related to business ethics and corporate responsibility
Sensemaking, construing and mapping methods
Research question
Methodology

Repertory Grid Technique
Sample
Design of the study

Data analysis

Content analysis
Weighted Multidimensional Scaling (WMDS)

Group space configuration

Descriptive statistics of constructs
Comments by small-business owners--managers

Discussion
Limitations and perspectives
Conclusion
Notes
References
Appendix A
References
References

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