Positioning stakeholder theory within the debate on corporate social responsibility (original) (raw)
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THE STAKEHOLDER APPROACH IN CORPORATE SOCIAL RESPONSIBILITY
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. According to Garriga and Melé CSR theories and related approaches are classified in four groups: (1) instrumental theories, in which the corporation is seen as instrument for wealth generation and its social activities are only a method to achieve economic results; (2) political theories, which cover the power of corporations in society and the good use of this power in the political field; (3) integrative theories, in which the organization is focused on the fulfillment of social demands; and (4) ethical theories, based on ethical responsibilities of corporations to society [1]. Presently, CSR approach has emerged from focusing on the shareholders to stakeholders due to the acknowledgement of the crucial roles of stakeholders in every organization. Stakeholder management and CSR is always connected. Stakeholder theory involves critical stakeholders such as employees, suppliers, customers, media, local communities, NGOs, could be the source of new ideas and opportunities [2]. This article's goal is to examine first the different views to the CSR concepts, to identify the core elements of CSR and also it will explore the development of the stakeholder approach in CSR.
Corporate social responsibility and stakeholder approach: a conceptual review
International Journal of Business Governance and Ethics, 2005
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. Academic research on the social or societal responsibilities of business organisations and the public interest in social and environmental issues incumbent upon businesses have changed since the 1950s. This article provides an overview of the existing research on CSR over the past 50 years and identifies key characteristics defining the concept of CSR. It also examines the challenges and implications of the stakeholder approach as highlighted by previous research, often in relation to research on CSR.
A Stakeholder Approach to Corporate Social Responsibility
gowerpub.com
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. In accounting for the recent ascendancy of stakeholder theory, this article presents an overview of two traditional conceptualizations of corporate social responsibility (CSR) (Carroll: 1979, 'A Three-Dimensional Conceptual Model of Corporate Performance', The Academy of Management Review 4(4), 497-505 and Wood: 1991, 'Corporate Social Performance Revisited', The Academy of Management Review 16(4), 691-717), highlighting their predominant inclination toward providing static taxonomic CSR descriptions. The article then makes the case for a stakeholder approach to CSR, reviewing its rationale and outlining how it has been integrated into recent empirical studies. In light of this review, the article adopts a stakeholder framework-the Ethical Performance Scorecard (EPS) proposed by Spiller (2000, 'Ethical Business and Investment: A Model For Business and Society', Journal of Business Ethics 27, 149-160)-to examine the CSR approach of a sample of Lebanese and Syrian firms with an interest in CSR and test relevant hypotheses derived from the CSR/stakeholder literature. The findings are analyzed and implications drawn regarding the usefulness of a stakeholder approach to CSR.
Literature Review of Corporate Social Responsibility from the Perspective of Stakeholder Theory
Proceedings of the 2021 5th International Seminar on Education, Management and Social Sciences (ISEMSS 2021), 2021
The primary purpose of this research is using theoretical and empirical methods to provide better understanding of the relationship between corporate social responsibility (CSR) and stakeholders. The findings illustrate three main aspects. Firstly, both primary and secondary stakeholders affect differently on CSR practices Besides, internal CSR practices are more accounting based but External CSR practices aim to take more market share. Secondly, the effects of CSR activities require to investigate how different stakeholders react to such initiatives. For example, customers and the general public was not influenced by stand-alone CSR information. The intangible aspects of CSR actions needed to be treated separately. Thirdly, CSR in a specific environment background (ie. at different level in the corporate) can guide and influence the stakeholders and the corporate differently. This research examines both the CSR and stakeholders, considering a battery of indicators, to furnish a more in-depth understanding of CSR practices and stakeholders.
Corporate Social Responsibility: The Importance of the Stakeholder Perception
9th International Scientific Conference “Business and Management 2016”, 2016
The differing views regarding the role of business in society are often presented as being placed within the stakeholder-shareholder debate. Corporate Social Responsibility (CSR) not only sits comfortably with the mantra of maximising shareholder value, sustainable CRS practices enhance shareholder value. The purpose of the current paper is to focus on the strategic implications of stakeholder approach in theoretical background with confrontation in a sample of Czech small and medium-sized enterprises (SME) and large enterprises. Data were collected through personal questionnaires that were subsequently evaluated by dependence on the type of stakeholders and their level of significance. The findings of the research discovered considerable differences between the perception of the role and importance of the various stakeholders. The contribution of this paper derives in application of stakeholder approach in Czech enterprises. They are seen as having an obligation to consider society...
CORPORATE SOCIAL RESPONSIBILITY AND STAKEHOLDER THEORY: AN INTEGRATED REVIEW
JOURNAL OF MANAGEMENT & ENTREPRENEURSHIP, 2024
This review paper explores the evolving relationship between Corporate Social Responsibility (CSR) and Stakeholder Theory, underscoring their convergence in guiding ethical and sustainable business practices. Initially, CSR emerged as philanthropic endeavors by corporations to contribute to societal welfare, evolving into a comprehensive framework emphasizing ethical labor, environmental stewardship, and economic growth. Meanwhile, Stakeholder Theory, introduced by Freeman (1984), expanded the scope of corporate accountability beyond shareholders to include all stakeholders-employees, customers, suppliers, and the broader community. This paper aims to dissect the integration of CSR and Stakeholder Theory within corporate strategies, highlighting the benefits of this synergy, including improved consumer perceptions, increased brand loyalty, and competitive advantage. Through a nuanced review of academic literature and empirical studies, it assesses the historical development of CSR, its integration with Stakeholder Theory, and the resultant impacts on corporate performance, stakeholder engagement, and societal well-being. The review identifies a symbiotic relationship between CSR and Stakeholder Theory, advocating for a stakeholder-oriented approach to business that aligns with ethical and sustainable practices. It concludes by stressing the potential of integrating CSR and Stakeholder Theory to foster a more accountable, sustainable, and socially responsible corporate landscape, offering insights for academics, practitioners, and policymakers.
The Stakeholders Theory as a Starting Point for the Critique of Corporate Social Responsibility
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 2017
Corporate social responsibility is becoming more and more popular all over the world. It is promoted by governments and transnational organizations. Nevertheless, since its establishment, it has gained a large group of enemies and still meets with a wave of criticism from different sides, beggining from economists, standing on the position that the purpose of business is only to generate income, through philosophers, who see in CSR a new tool for social enslavement, ending at sociologists, who see an element of corporate management and modern control technology in it. The article presents the most important arguments against corporate social responsibility. It also engages in a polemic against opponents of this concept. However, the starting point is the theory of stakeholders, considered by many as the framework of CSR.
ZARZĄDZANIE PUBLICZNE 3(23)/2013, s. 309–319, 2013
In today's complex and ever changing economic environment an organisation can only be successful , if it can meet the needs of its stakeholders. There is an even bigger ethical, social, legal and strategic pressure on the economic and social organisations. This also stands for not only the profi t-oriented corporations but also for budget authorities and any other public organisations. Several organisations have recognised the infl uence of the stakeholders and have tried to meet their needs. That means that they operate a CSR policy on a volunteer base, as the only way for survival. The CSR is not a separate task, nowadays the management of the stakeholders is part of the strategic management, as at times the interests of different groups must be attended. The present study deals with the infl uence of stakeholders on the CSR practice, it also introduces the differences in stakeholder relationship among corporations of different sizes as well as examining the characteristics of the different actors. Based on the results of the qualitative research it can be stated that a signifi cant difference can be found in the stakeholder relationship of the small-and medium size enterprises (SMEs) and of large corporations. The large corporations build their relationship in signifi cantly higher ratio with the nationwide stakeholder, whereas the SMEs encourage communication with the local stakeholders and neglect those nationwide stakeholders that are out of their operational scope. This can be said about the public sector as well, that is large corporations prefer the interaction with this sector at a higher ratio. However, it is a common characteristic of all Hungarian enterprises that they value the relationship with stakeholders of environmental importance more than the communication with stakeholders of social importance.