Csr and Stakeholders
Society exists because human beings do not live in isolation and businesses play a leadership role in shaping the society because it has an important influence over the distribution of resources of society. Since the businesses use the resources of the society to gain private profit, they have a moral obligation to repay the society. (Ryan, N., Parker, R., & Brown, K. 2003).
Businesses have clearly identified this responsibility and have started taking up the challenge to legitimate its practices to society at large. This in the last decade has been commonly referred to as Corporate Social Responsibility – CSR (Crane, A., Matten, D., Spence, L. 2008). As Carroll (1979, cited in Carroll, 1991) states that, CSR included the idea that the corporation has not only economic and legal obligations, but ethical and discretionary (philanthropic) responsibilities as well.
However, the definitions of the term CSR may depend on individual perceptions of responsibility that in turn relate to the bigger picture defining the role of the organisation in society (Crane and Matten 2004:439, cited in O’Riordan et al., 2008). Briefly as, O’Riordan J. and Fairbass J. (2008) state that the concept of CSR encompasses many dimensions of business activity ranging from the social (e.g. community programmes), to economic (e.g. employment) to the environmental (e.g. waste reduction). I am of the opinion that as a part of fulfilling CSR obligations, business managers have to engage with their stakeholders, an activity that may be defined as stakeholder dialogue to determine appropriate business behaviour and by doing so they are looking after the best interests of the business organisation.
In support of my above statement, I agree with what Murray and Vogel (1997:142, cited in O’Riordan et al., 2008) have stated that stakeholders, acting both formally and informally, individually or collectively, are a key element in the firm’s external environment that can positively or negatively
Businesses have clearly identified this responsibility and have started taking up the challenge to legitimate its practices to society at large. This in the last decade has been commonly referred to as Corporate Social Responsibility – CSR (Crane, A., Matten, D., Spence, L. 2008). As Carroll (1979, cited in Carroll, 1991) states that, CSR included the idea that the corporation has not only economic and legal obligations, but ethical and discretionary (philanthropic) responsibilities as well.
However, the definitions of the term CSR may depend on individual perceptions of responsibility that in turn relate to the bigger picture defining the role of the organisation in society (Crane and Matten 2004:439, cited in O’Riordan et al., 2008). Briefly as, O’Riordan J. and Fairbass J. (2008) state that the concept of CSR encompasses many dimensions of business activity ranging from the social (e.g. community programmes), to economic (e.g. employment) to the environmental (e.g. waste reduction). I am of the opinion that as a part of fulfilling CSR obligations, business managers have to engage with their stakeholders, an activity that may be defined as stakeholder dialogue to determine appropriate business behaviour and by doing so they are looking after the best interests of the business organisation.
In support of my above statement, I agree with what Murray and Vogel (1997:142, cited in O’Riordan et al., 2008) have stated that stakeholders, acting both formally and informally, individually or collectively, are a key element in the firm’s external environment that can positively or negatively