Thursday, March 16, 2006

Strategic Corporate Social Responsibility as Stakeholder Management:

"The term corporate social responsibility (CSR) may cause unnecessary ambiguity for companies. In particular, global scale companies including SAMSUNG electronics and LG electronics keep spending various resources for the related activities without coherent notion on the concept of CSR.

But what does corporate social responsibility mean to companies?

Without clear understanding about the meaning of CSR, how can companies respond or take actions on it? In this study, CSR indicates corporate stakeholder responsibility.

Having relevant key stakeholders in corporate business activities, companies may know how to respond or deal with them in a strategic way without losing competitiveness.

This study attempts to answer how and why companies respond differently to their stakeholders.

The study found that identified key stakeholders by decision makers resulted in different strategic choices or responses.

It may imply that unidentified stakeholders have no influence or impact on corporate business activities.