Circles of stakeholders: towards a relational theory of Corporate Social Responsibility

Rob Maessen, Paul Van Seters and Eleonore Van Rijckevorsel

International Journal of Business Governance and Ethics, 2007, vol. 3, issue 1, 77-94

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.

Keywords: corporate social responsibility; CSR; globalisation; strategy; stakeholder management; partnerships; relational theory; NGOs; business governance. (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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