CSR: Who are an Organization’s Stakeholders?
A stakeholder is anyone who has any interest in what you are doing. They can be an individual or a group. So, in the context of Corporate Social Responsibility, who are the stakeholders who have an interest in what the organization is doing?
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Corporate Social Responsibility (CSR)
This video is part of course module 6.2
Program 6: Managing within Organizations
Course 2: Corporate Social Responsibility
Other videos that describe Corporate Social Responsibility:
🎬 What is Corporate Social Responsibility (CSR)?
https://youtu.be/ONgWaJJk20M
🎬 What is the Triple Bottom Line?
https://youtu.be/82nTJEdPmbs
🎬 How is CSR reflected in Legislation and Standards?
https://youtu.be/Pdhjc2t5WdM
🎬 What are an Organization’s Environmental Responsibilities under CSR?
https://youtu.be/EjkF3LBWPI0
🎬 What are an Organization’s Social Responsibilities under CSR?
https://youtu.be/QIVzrISHSHs
🎬 What are an Organization’s Ethical Responsibilities under CSR?
https://youtu.be/n2qJDIcaotI
LESSON NOTES
The term ‘stakeholder’ was first coined at the Stanford Research Institute in 1963.
In 1965, Igor Ansoff briefly discussed stakeholder theory in his book, ‘Corporate Strategy’. He argued that companies had responsibilities to various stakeholders, including workers, suppliers, managers, and, of course, stockholders.
Stakeholder theory took off in 1983, when R Edward Freeman wrote ‘Strategic Management: A Stakeholder Approach’ https://geni.us/XzYlz
From then, the term has been widely used, especially by politicians and social planners. Its use in the political domain reached its peak in the UK when Prime Minister Tony Blair floated the concept of a ‘Stakeholder Economy’ in January 1996.
The stakeholders to whom companies have a responsibility:
• Consumers/customers/clients
• Employees
• Suppliers and Contractors
• Financers and Investors
• Communities
• Government
• Interest groups
• The Environment
RECOMMENDED EXERCISE
1. Who are the particular stakeholders in your organization, under each category? (6 MC CPD Points)
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RECOMMENDED READING
There are many books that discuss CSR. These are the ones I recommend:
📖 Corporate Social Responsibility: A Very Short Introduction
https://geni.us/oCWl1m
📖 Cannibals with Forks: The Triple Bottom Line Of 21st Century Business
https://geni.us/Lyr1bRP
📖 Strategic Management: A Stakeholder Approach: R Freeman
https://geni.us/XzYlz
📖 The Stakeholder Strategy: Profiting from Collaborative Business Relationships
https://geni.us/bPI5
📖 Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause
https://geni.us/UCLsj
📖 Corporation Be Good! the Story of Corporate Social Responsibility
https://geni.us/a97O
⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos
Managers Need a Basic set of kit to do your job well. Here are my top recommendations: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)
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CHAPTER MARKERS
00:00 – CSR: Who are an organization’s stakeholders?
00:29 – What are companies for?
02:10 – The term, ‘stakeholder’
03:07 – Stakeholder Theory and ‘Strategic Management: A Stakeholder Approach’
03:36 – Wide use of the term ‘stakeholder’
03:57 – Who are the organization’s stakeholders?
07:13 – Summing up
#ManagementCourses #Stakeholders #CorporateSocialResponsibility
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