Leveraging Corporate Responsibility :The Stakeholder Route to Maximizing Business and Social Value

Publication subTitle :The Stakeholder Route to Maximizing Business and Social Value

Author: C. B. Bhattacharya; Sankar Sen; Daniel Korschun  

Publisher: Cambridge University Press‎

Publication year: 2011

E-ISBN: 9781139142847

P-ISBN(Paperback): 9781107009172

Subject: F2 Economic Planning and Management

Keyword: 经济计划与管理Economic Planning and Management

Language: ENG

Access to resources Favorite

Disclaimer: Any content in publications that violate the sovereignty, the constitution or regulations of the PRC is not accepted or approved by CNPIEC.

Leveraging Corporate Responsibility

Description

The corporate social and environmental responsibility movement, known more generally as corporate responsibility (CR), shows little sign of waning. Almost all large corporations now run some form of corporate responsibility program. Despite this widespread belief that CR can simultaneously improve societal welfare and corporate performance, most companies are largely in the dark when it comes to understanding how their stakeholders think and feel about these programs. This book argues that all companies must understand how and why stakeholders react to such information about companies and their actions. It examines the two most important stakeholder groups to companies - consumers and employees - to comprehend why, when and how they react to CR. Armed with this insight, it shows how companies can maximize the value of their CR initiatives by fostering strong stakeholder relationships to develop, implement and evaluate compelling social responsibility programs that generate value for both the company and its stakeholders.

Chapter

Who should read this book

What lies ahead

Endnotes

Further reading

PART I Deconstructing CR value

TWO Viewing stakeholders as individuals

The “Market for Virtue”

Companies speak about CR

The stakeholder route to CR value

The missing link: An individual stakeholder view

The road to CR value: A framework

What the framework means for managers

An illustrative example

Summary

Endnotes

Further reading

THREE How stakeholders respond to CR

The missing element

Two types of CR value

Business value

Societal value

A real world example: “Shared value”

CR business value

The consumption realm

The employment realm

CR societal value

Cause advocacy

Behavior changes

Summary

Endnotes

Further reading

PART II Inside the mind of the stakeholder

FOUR What stakeholders see and hear

CR characteristics

CR issue

CR implementation

CR resources

CR communication channels

A broadening of CR communication

Examples of effective CR communication channels

Recent innovations

Potential negatives

Summary

Endnotes

Further reading

FIVE The psychological engine that drives CR reactions

The three levers that energize and move stakeholder reactions

The first lever: Understanding

Awareness

A sampling of study findings

Attributions

The stakeholder's viewpoint

Efficacy

More evidence

The second lever: Usefulness

Functional benefits

Identity-related benefits

Empirical support

The third lever: Unity

Identification

Empirical evidence

Trust

What the research shows

Summary

Endnotes

Further reading

SIX How context influences the process

The significance of context

UPS and location

Going beyond “one size fits all”

Stakeholder context

Closeness

Closeness as a multiplier

A deeper look at the studies

Caring

Studies on caring

Characteristics

Demographics

Cultural differences

Company context

CR type

Distinctiveness

The importance of “fit”

Communication

Looking at the downside

Core business

Product quality

Marketing strategy

Company characteristics

Reputation

Company size and demographics

Organizational culture

Summary

Endnotes

Further reading

PART III Putting insight into action

SEVEN Co-creating CR strategy

Co-creating CR initiatives: Some background

Getting the needed involvement

Four steps to successful CR formulation

Articulation

Generation

Engaging individual stakeholders

Laddering

Distillation

Selection

Creating partnerships

Creating experiments and looking at research results

Implementation

Enactor versus enabler

Horizontal versus vertical

Formal versus informal

Summary

Exhibits

EIGHT Communicating CR strategy

Getting the message out

Communicating to optimize the 3 U's

What to communicate: message

Commitment

Effectiveness

Motives

Fit

Where to communicate: media

The key role of education

Summary

Endnotes

Further reading

NINE Calibrating CR strategy

STEP 1: Quantifying stakeholder perceptions and CR value

Addressing Question 1: Are CR programs having the intended effects?

Addressing Question 2: How are stakeholders interpreting CR?

Understanding

Usefulness

Unity

STEP 2: Finding linkages between CR value and its drivers

Methods of establishing linkages

Focusing on the key drivers of CR value

Factors in producing maximal CR value

Stakeholder factors

Company factors

STEP 3: Calibrating CR and stakeholder relationships

Applying knowledge to improve CR programs: the CR dashboard

Leveraging knowledge to optimize the portfolio of CR initiatives

Summary

Endnotes

Further reading

TEN Putting the framework to work

A deeper dive

Employee reactions to CR in the retail sector

About the research

Connecting the 3 U's to CR value

Employee turnover

Work effort

Purchase loyalty

A simultaneous test of all three levers

Illustrating the approach with Walmart

Walmarts performance on the 3 U's

Implications for Walmart

Consumer reactions to CR in the yogurt industry

About the research

Connecting the 3 U's to CR value

Purchase intent

Willingness to pay premium

Resilience to negative information

A simultaneous test of all three levers

Illustrating the Approach with Dannon and Yoplait

CR in the yogurt industry

Dannon and Yoplait's performance on the 3 U's

Understanding

Usefulness

Unity

Implications for Yoplait and Dannon

Summary

Exhibits

ELEVEN Conclusion

Understanding the reactions of other stakeholder realms

Investment

Procurement

Government

The cross-stakeholder effect

Longer term perspective and emphasis on social value

Bringing the multi-minded stakeholder to life

Endnotes

APPENDIX Our research program

Our research program

General CR Insights Study

Technology Company Study

Yogurt Study

Employee Study

Frontline Employee Study

Firm Market Value Study

Consumer Oral Care Program Study

Childhood Development Center Study

Endnotes to Appendix

Index

The users who browse this book also browse