Corporate Social Responsibility: Exploring Stakeholder Relationships and Programme Reporting across Leading FTSE Companies |
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Authors: | Email author" target="_blank">Simon?KnoxEmail author Stan?Maklan Paul?French |
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Institution: | (1) Centre for Advanced Research in Marketing, Cranfield School of Management, University Cranfield, Cranfield, Bedford, MK43 OAL, U.K. |
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Abstract: | Although it is now widely recognised by business leaders that their companies need to accept a broader responsibility than
short-term profits, recent research suggests that as corporate social responsibility (CSR) and social reporting become more
widespread, there is little empirical evidence of the range of stakeholders addressed through their CSR programmes and how
such programmes are reported. Through a CSR framework which was developed in an exploratory study, we explore the nature of
stakeholder relationships reported across leading FTSE companies and the importance they attach to communicating both social
and business outcomes. It is evident from the hypotheses tested that the bigger FTSE companies, particularly extraction companies
and telecoms, are more adept at identifying and prioritising their stakeholders, and linking CSR programmes to business and
social outcomes. However, we draw the general conclusion that building stronger stakeholder relationships through CSR programmes
– other than with customers – is not currently a priority for most companies. We also conclude that a limited sophistication
in managing multiple stakeholders may compromise the impact of CSR upon business and social results. Finally, the managerial
implications and the contribution of our study are discussed before closing with an acknowledgement of the limitations of
this work and suggestions for further research. |
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Keywords: | corporate social responsibility leading FTSE companies stakeholder relationships social and business outcomes |
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