Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR)
Abstract Complacency is almost archaic in the knowledge economy, because firms are overwhelmingly confronted with diverse expectations from better informed stakeholders, who pressure on societal issues amid shareholders’ calls for greater financial security. Similarly, there is a growing call for co...
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| Formato: | Artigo |
| Idioma: | English |
| Publicado em: |
SpringerOpen
2024-06-01
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| Colecção: | International Journal of Corporate Social Responsibility |
| Assuntos: | |
| Acesso em linha: | https://doi.org/10.1186/s40991-024-00094-y |
| _version_ | 1827213880255840256 |
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| author | Hart O. Awa Willie Etim Enyinda Ogbonda |
| author_facet | Hart O. Awa Willie Etim Enyinda Ogbonda |
| author_sort | Hart O. Awa |
| collection | DOAJ |
| description | Abstract Complacency is almost archaic in the knowledge economy, because firms are overwhelmingly confronted with diverse expectations from better informed stakeholders, who pressure on societal issues amid shareholders’ calls for greater financial security. Similarly, there is a growing call for corporations to redefine their responsibilities to stakeholders, and to integrate socio-economic and environmental concerns into business processes and strategies in order to transparently impact on societies. In a bid to support mutually beneficial relationships, this paper shows how stakeholder theory proactively moderates the strength of CSR in social interactions, environmental protection, and sustainable development. It proposes a four-stage stakeholder dialogue ladder which attempts to synergize CSR, stakeholder and stakeholder theory based on the stages as defined by the firm’s extent of development, and her regularity and intensity of interaction with stakeholders. The paper argues that subject to the problem to solve, the languages of CSR and stakeholder theory are useful and that, the dichotomies of covering wrongdoing and creating falsehoods could be addressed when firms adopt stakeholder dialogue and collaboration that aid friendly CSR programmes. Thus, the relationship turns that of dyadic partnership, because corporations follow issue or purpose-based CSR programmes that create values that trickle to interdependent stakeholders. In sum, corporations need to continually get committed to environmentally-sensitive CSR since there is a strong relationship between CSR activities, stakeholders and actual performance. |
| first_indexed | 2025-03-21T14:22:28Z |
| format | Article |
| id | doaj.art-a43a27f2ee9b4b9eb26cedc784e5c81e |
| institution | Directory Open Access Journal |
| issn | 2366-0066 2366-0074 |
| language | English |
| last_indexed | 2025-03-21T14:22:28Z |
| publishDate | 2024-06-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | International Journal of Corporate Social Responsibility |
| spelling | doaj.art-a43a27f2ee9b4b9eb26cedc784e5c81e2024-06-23T22:27:58ZengSpringerOpenInternational Journal of Corporate Social Responsibility2366-00662366-00742024-06-019111410.1186/s40991-024-00094-yStakeholders, stakeholder theory and Corporate Social Responsibility (CSR)Hart O. Awa0Willie Etim1Enyinda Ogbonda2Department of Marketing, University of Port HarcourtMedia & Publicity, Niger Delta Development Commission (NDDC)Rivers State UniversityAbstract Complacency is almost archaic in the knowledge economy, because firms are overwhelmingly confronted with diverse expectations from better informed stakeholders, who pressure on societal issues amid shareholders’ calls for greater financial security. Similarly, there is a growing call for corporations to redefine their responsibilities to stakeholders, and to integrate socio-economic and environmental concerns into business processes and strategies in order to transparently impact on societies. In a bid to support mutually beneficial relationships, this paper shows how stakeholder theory proactively moderates the strength of CSR in social interactions, environmental protection, and sustainable development. It proposes a four-stage stakeholder dialogue ladder which attempts to synergize CSR, stakeholder and stakeholder theory based on the stages as defined by the firm’s extent of development, and her regularity and intensity of interaction with stakeholders. The paper argues that subject to the problem to solve, the languages of CSR and stakeholder theory are useful and that, the dichotomies of covering wrongdoing and creating falsehoods could be addressed when firms adopt stakeholder dialogue and collaboration that aid friendly CSR programmes. Thus, the relationship turns that of dyadic partnership, because corporations follow issue or purpose-based CSR programmes that create values that trickle to interdependent stakeholders. In sum, corporations need to continually get committed to environmentally-sensitive CSR since there is a strong relationship between CSR activities, stakeholders and actual performance.https://doi.org/10.1186/s40991-024-00094-yStakeholdersCSRStakeholder theory |
| spellingShingle | Hart O. Awa Willie Etim Enyinda Ogbonda Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR) International Journal of Corporate Social Responsibility Stakeholders CSR Stakeholder theory |
| title | Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR) |
| title_full | Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR) |
| title_fullStr | Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR) |
| title_full_unstemmed | Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR) |
| title_short | Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR) |
| title_sort | stakeholders stakeholder theory and corporate social responsibility csr |
| topic | Stakeholders CSR Stakeholder theory |
| url | https://doi.org/10.1186/s40991-024-00094-y |
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