A stakeholder approach to corporate social responsibility pdf

Pdf corporate social responsibility and stakeholder. A stakeholder approach to corporate social responsibility, reputation and business performance taghian,m, dsouza,c and polonsky,mj 2015, a stakeholder approach to corporate social responsibility, reputation and business performance, social responsibility journal, vol. An overview of corporate social responsibility 4 what is the business case for csr. In this paper, the authors relate data from stakeholder engagement activities undertaken by nine australian organizations as part of their csr efforts, to an existing process. Empirical research has shown that such engagement has a way of not just improving corporate. Corporate social responsibility and stakeholder governance. The corporate social responsibility csr theory consists not only of theories, but also a large number of approaches, which are often disputed, complex and uncertain. Several authors have indeed favored a stake to capture with such taxonomic descriptions.

The social responsibility of business is to increase profits, new york times magazine, september, 1970, pp. Stakeholder engagement is an important aspect of an organizations corporate social responsibility csr activities, but little theorizing informs its implementation. This is not just semantics, but a new interpretation of the very purpose of csr. The paper is available thro slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Corporate responsibility or sustainability is therefore a prominent feature of the business and society literature, addressing topics of business ethics, corporate social performance, global corporate citizenship, and stakeholder management. Key recommendations from subgroup on corporate social responsibility strategy, operations and integrated performance, in close collaboration with their stakeholders, with the aim of.

Corporate social responsibility, utilitarianism, and the capabilities approach cecile renouard abstract. Therefore, corporate social responsibility csr reporting as a form of nonfinancial reporting has made it to limelight. Noticeably, there has been little consideration of the motivations and processes used by businesses to avoid or neglect stakeholder power and pressures. It defends the idea that this key issue is related to the anthropological perspective that underpins. A defensive stance is avoided by delineating key stages of the governance process and aligning profit centred and social responsibility concerns to. Three approaches to corporate social responsibility your. Corporate social responsibility csr is a pathway to positive and sustainable engagement of businessstakeholders in general and its host community in particular, especially when the operations of such enterprise have a way of negatively impacting the environment or other interests of such a community. Csr and corporate sustainability involve the organisations assessment and improvement of its economic, environmental and social impact to align it with stakeholder requirements using integrated reporting. In accounting for the recent ascendancy of stakeholder theory, this article presents an overview of two traditional conceptualizations of corporate social responsibility csr carroll. This study aims to examine stakeholder interests in and influence on corporate social responsibility csr implementation in hotels through an instrumental stakeholder theory lens. Corporate social responsibility at bank of america highlights. A stakeholder approach to corporate social responsibility, reputation and business performance a research paper based presentation. In its modern usage, csr pertains to policies and programs aimed at benefitting the different stakeholders of an organization.

A fresh perspective into theory and practice article pdf available in journal of business ethics 821. The user has requested enhancement of the downloaded file. Corporate social responsibility csr is a business approach that contributes to sustainable. Stakeholder management approach stakeholder corporate. Business approach to corporate responsibility, grounded in stakeholder theory, should therefore also share this same ethical approach. However, while this is the image which may be projected, it is likely that there is an ulterior, strategic motivation to effectively managing corporate responsibility. The aim of this paper is to extend the industrial corporate social responsibility practices index proposed for the 10 main industries in the 39 sectors of activity that comprise them.

Stakeholder approach to corporate social responsibility. It then looks at some theories to explain how and why business might undertake csr stakeholder theory, social contracts theory and legitimacy theory. Corporate social responsibility csr is embedded in our values and informs how we. Pdf stakeholder theory has gained currency in the business and society literature in recent years in light of its practicality from the perspective. Corporate social responsibility csr and the notion of a stakeholder approach are pivotal concepts when examining the role of business in society, but their relationship has been studied and much debated for decades. In their inherent in a stakeholder approach or model is an assessment of csr and csp in the context of a exchange perspective for social responsibility man sample of italian smes, longo et al. Corporate social responsibility at bank of america. Chapter managerial ethics and corporate social responsibility. The key stakeholders included employees and unions as internal and public, the media and the government as external stakeholders. Corporate social responsibility reporting a stakeholder. Corporate social responsibility and sustainable business. The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. Various reporting types developed, but the type of reporting is hardly codified.

Such corporate responsibility approach benefits stakeholders, while also boosting the companys corporate and brand image. In this paper, we examine the impact of stakeholder governance on corporate social responsibility csr around the world to determine whether csr is employed as a mechanism to mitigate conflicts of interest between managers and diverse stakeholders, or used as managerial perquisites. Three approaches to corporate social responsibility. An alternative to the shareholder model is the stakeholder model of corporate governance. This article explores the possible convergence between the capabilities approach and utilitarianism to specify csr. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. Managers that adopt a stakeholder model of corporate governance recognize that they must answer to other stakeholders, including. Corporate social responsibility, called csr, is defined as the combination of business values and operations reflected in the companys policies and actions in order to advance the interests of its stakeholders.

A stakeholder approach to corporate social responsibility provides a comprehensive collection of cuttingedge theories and research that can lead to a more multifaceted understanding of corporate social responsibility in its various forms, the pressures and conflicts that result from these different understandings, and some potential solutions. Embedding corporate social responsibility in corporate. This extension will provide more detailed information on csr practices at the industrial level, especially about sustainable development and environmental concerns. Theories of corporate social responsibility profolus. Corporate social responsibility and stakeholder approach. Pressures and conflicts of a stakeholder approach to corporate social responsibility 121 robert l. This paper aims to investigate business managers assessment of stakeholders influence on corporate social responsibility csr initiatives. Pdf purpose this paper aims to investigate business managers assessment of stakeholders influence on corporate social responsibility. Introduction over the past decades, the interest in the concept of corporate social responsibility csr within both the academic and practitioner discourses has. Drawing from a variety of disciplines and written in a highly accessible style, the book guides readers in a focused progression providing the key points they need to successfully navigate the benefits and implications of managing csr. Introduction over the past decades, the interest in the concept of corporate social responsibility csr within both the academic and practitioner discourses has been rapidly increasing. This is all the more remarkable in the light of recent corporate social responsibility scandals in which these mechanisms seem to have been at work. A stakeholder approach to corporate social responsibility, reputation. The limited focus of existing analyses is extended by a holistic approach to corporate governance and social responsibility that integrates company, shareholder and wider stakeholder concerns.

The purpose was to estimate the influence of stakeholders that managers perceive as. The effects of corporate social responsibility on firm. The arguments in this paper include the stakeholder theory, stakeholders and csr relations and finally the stakeholder s perspective on csr. Csr and stakeholders corporate social responsibility has been described as a paradigm that is in a state of emergence crane et al. A stakeholder approach to corporate social responsibility, reputation and business performance article pdf available in social responsibility journal 112. Being a responsible business is integral to our success, and that of the customers, clients, shareholders and communities we serve around the world. The goal of this paper is to identify the superior csr reporting type from a stakeholders perspective. Instead of starting with a business and looking out into the world to see what ethical obligations are there, stakeholder theory starts in the world. Stakeholder theory has gained currency in the business and society literature in recent years in light of its practicality from the perspective of.

Then record companies and artists pay the promoters to make sure their music gets on the radio. A stakeholder approach to corporate social responsibility, reputation and. The corporate social responsibility csr theory consists not only of theories, but also a large number of approaches, which are often disputed, complex and. Corporate social responsibility or csr is a concept that provides a framework for defining the mission and vision of a business organization, as well as for expressing the extent of its obligations or accountability. An outline of the two perspectives related to corporate social responsibility. Corporate social responsibility, utilitarianism, and the.

Stakeholder theory has gained currency in the business and society literature in recent years in light of its practicality from the perspective of managers and scholars. Corporate social responsibility has evolved as a global phenomenon that encompasses businesses, consumers, governments, and civil society, and many organizations. Company signals that all forms of value creation and trade and all businesses, from startups to large publicly held corporations, need to be involved. Implementing corporate social responsibility 18 task 1. In this paper, we propose to replace corporate social responsibility with company stakeholder responsibility. A stakeholder approach to corporate social responsibility. The primary purpose of this study is to compare the internal and external stakeholder effect of corporate social responsibility csr on a restaurant firms financial performance.

In part, this debate is an outgrowth of the proliferation of different. Stakeholder theory and corporate social responsiblity. Managing corporate social responsibility offers a strategic, communicationcentred approach to integrating csr into organizations. Corporate social responsibility and stakeholder theory. Corporate social responsibility csr and stakeholder approach. Pdf a stakeholder approach to corporate social responsibility. All intext references underlined in blue are added to the original document and are linked to publications on researchgate, letting you access and read them immediately. Corporate social performance social accountability, auditing and reporting saar social responsibility for multinationals business and society stakeholder approach corporate global citizenship social contract theory source. According to garriga and mele csr theories and related approaches are classified.

A stakeholder approach to corporate social responsibility, reputation and business performance. A systems approach for socially responsible capitalism abstract although the concept of corporate social responsibility csr has been advocated for decades and is commonly employed by corporations globally, agreement on. Throughout the history of the idea of corporate social responsibility, there has been. The discussion also includes support for each perspective, including. The article concludes by describing ways of assessing corporate. Advantages and disadvantages of corporate social responsibility s geethamani abstract movement aimed at encouraging companies to be more aware of the impact of their business on the rest of society, including their own stakeholders and the environment. Corporate social responsibility, development, environment, pollution.