BU481 Chapter Notes -Corporate Social Responsibility
Document Summary
Although not necessarily the case, stakeholder analysis is often associated with corporate social responsibility (csr), before you can determine the roles that various stakeholders might play, it is important to: Identify stakeholders: there are many possible stakeholders that need to be con- sidered in the analysis. Externally, stakeholders include customers, competitors, suppliers, the community, government, and a variety of interest groups. It may be important to remember that a firm"s strategy may have many externalities, which are the spillover effects of the strategy on society. What are the effects: are you prepared to defend your decision, can you justify your action to others, take action to align strategy and stakeholder interests. Given the previous analysis, assess whether the strategic choice benefits each stakeholder. If not, assess whether the stakeholder can be brought on side, and how. In summary, a key aspect of the environment analysis is to take stock of stakeholder interests to assess their alignment with the strategy.
