COMPANY RELEVANT STAKEHOLDERS’ RESPONSIBILITY: AN INNOVATIVE FORM OF RESPONSIBLE GOVERNANCE

Ovidiu Nicolescu and Ciprian Nicolescu

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2020, vol. 14, issue 1, 319-334

Abstract: Corporate social responsibility has been one of the main approaches used in order to cope with the needs of society and grand societal challenges. Starting from corporate social responsibility and other approaches, this study proposes an innovative approach – company stakeholders’ relevant responsibility. Based on three new concepts – relevant stakeholder, relevant responsibility and pentagon of relevant responsibilities – company stakeholders’ relevant responsibility, by concomitantly focusing on the relevant issues and by extending beyond the corporation, to all types of companies’ relevant responsibilities, could generate significant multifaceted advantages. In addition to increasing the capacity of companies to successfully take societal needs into consideration, this innovative type of responsible governance enhances the competitive multidimensional performance of the organization and its main internal and external stakeholders.

Keywords: company relevant stakeholders responsibility; corporate social responsibility; grand societal challenges; relevant stakeholder; responsible governance (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:14:y:2020:i:1:p:319-334

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