Circles of stakeholders: towards a relational theory of Corporate Social Responsibility
by Rob Maessen, Paul Van Seters, Eleonore Van Rijckevorsel
International Journal of Business Governance and Ethics (IJBGE), Vol. 3, No. 1, 2007

Abstract: Two key elements define the modern-day version of a socially responsible corporation: (1) targeting business activities on value creation in three dimensions, and (2) maintaining relationships with stakeholders. In this article, we argue that a proper understanding of Corporate Social Responsibility (CSR) lies in the intrinsic link between these two elements. A relational approach to CSR is called for. Circles of stakeholders reflect the level of involvement of different stakeholders with a corporation and the dynamics of their relations. In a globalising world, connecting corporations to outer-circle groups of stakeholders can be substantially rewarding. Partnerships with Non-Governmental Organisations (NGOs) present a useful strategy for governance for the benefit of all.

Online publication date: Mon, 01-Jan-2007

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