An article we recently contributed to ASQ’s Quality Management Forum (Winter 2017) connects Stakeholder Theory and Social Responsibility (SR).
“Edward Freeman described Stakeholder Theory as a proactive approach to corporate social responsibility (CSR). Looking outward to groups or individuals impacted by an organization’s activities, Stakeholder Theory encourages organizations to identify key entities affected and consider their interests and rights as they relate to that organization’s actions. Considering the most common key stakeholders, the case for SR within an organization is made by demonstrating tangible benefits and value within each.”
The article discusses each of the primary five stakeholders identified above and includes some interesting supporting data.