A stakeholder is anyone who has any interest in what you are doing. They can be an individual or a group. So, in the context of Corporate Social Responsibility, who are the stakeholders who have an interest in what the organization is doing?


Watching this video is worth 2 Management Courses CPD Points*.
See below for details

Corporate Social Responsibility (CSR)
This video is part of course module 6.2
Program 6: Managing within Organizations
Course 2: Corporate Social Responsibility


Other videos that describe Corporate Social Responsibility:
What is Corporate Social Responsibility (CSR)?
https://youtu.be/ONgWaJJk20M
What is the Triple Bottom Line?
https://youtu.be/82nTJEdPmbs
How is CSR reflected in Legislation and Standards?
https://youtu.be/Pdhjc2t5WdM
What are an Organization's Environmental Responsibilities under CSR?
https://youtu.be/EjkF3LBWPI0
What are an Organization's Social Responsibilities under CSR?
https://youtu.be/QIVzrISHSHs
What are an Organization's Ethical Responsibilities under CSR?
https://youtu.be/n2qJDIcaotI


LESSON NOTES
The term ‘stakeholder’ was first coined at the Stanford Research Institute in 1963.

In 1965, Igor Ansoff briefly discussed stakeholder theory in his book, ‘Corporate Strategy’. He argued that companies had responsibilities to various stakeholders, including workers, suppliers, managers, and, of course, stockholders.

Stakeholder theory took off in 1983, when R Edward Freeman wrote ‘Strategic Management: A Stakeholder Approach’ https://geni.us/XzYlz

From then, the term has been widely used, especially by politicians and social planners. Its use in the political domain reached its peak in the UK when Prime Minister Tony Blair floated the concept of a ‘Stakeholder Economy’ in January 1996.

The stakeholders to whom companies have a responsibility:
• Consumers/customers/clients
• Employees
• Suppliers and Contractors
• Financers and Investors
• Communities
• Government
• Interest groups
• The Environment


RECOMMENDED EXERCISE
1. Who are the particular stakeholders in your organization, under each category? (6 MC CPD Points)


DOWNLOADS
Free Resources
🧰 CPD Tools - https://gum.co/MC-CPD
Paid resources
🧳 Management Courses Onboarding Kit - https://gum.co/MC-ObK ($3)

RECOMMENDED READING
There are many books that discuss CSR. These are the ones I recommend:
Corporate Social Responsibility: A Very Short Introduction
https://geni.us/oCWl1m
Cannibals with Forks: The Triple Bottom Line Of 21st Century Business
https://geni.us/Lyr1bRP
Strategic Management: A Stakeholder Approach: R Freeman
https://geni.us/XzYlz
The Stakeholder Strategy: Profiting from Collaborative Business Relationships
https://geni.us/bPI5
Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause
https://geni.us/UCLsj
Corporation Be Good! the Story of Corporate Social Responsibility
https://geni.us/a97O


⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos

Managers Need a Basic set of kit to do your job well. Here are my top recommendations: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)


MANAGEMENT COURSES CONTINUING PROFESSIONAL DEVELOPMENT (CPD) POINTS
You can record your Management Courses CPD points on our free, downloadable CPD record log.
Download it at: https://gum.co/MC-CPD
Each video has two levels of MC CPD points. For this video:
- If you simply watched the video, record 2 MC CPD points
- If you also carried out all of the recommended exercises, score a total of 8 MC CPD points

CHAPTER MARKERS
00:00 - CSR: Who are an organization’s stakeholders?
00:29 - What are companies for?
02:10 - The term, ‘stakeholder’
03:07 - Stakeholder Theory and ‘Strategic Management: A Stakeholder Approach’
03:36 - Wide use of the term ‘stakeholder’
03:57 - Who are the organization’s stakeholders?
07:13 - Summing up


#ManagementCourses #Stakeholders #CorporateSocialResponsibility