Stakeholder and Social Responsibility Essay

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Figure 2.3 illustrates just some of the stakeholder groups that would have an interest in how an organization’s operations function performs. But although each of these groups, to different extents, will be interested in operations performance, they are likely to have very different views of which aspect of performance is important. Table 2.3 identifies typical stakeholder requirements. But stakeholder relationships are not just one-way. It is also useful to consider what an individual organization or business wants of the stakeholder groups themselves. Some of these requirements are also illustrated in Table 2.3.
Corporate social responsibility (CSR)
Strongly related to the stakeholder perspective of operations performance is that of corporate social responsibility (generally known as CSR). According to the UK government’s definition,
‘CSR is essentially about how business takes account of its economic, social and environmental impacts in the way it operates – maximizing the benefits and minimizing the downsides. . . .
Specifically, we see CSR as the voluntary actions that business can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of wider society.’ A more direct link with the stakeholder concept is to be found in the definition used by Marks and Spencer, the UK-based retailer. ‘Corporate Social Responsibility . . . is listening and responding to the needs of a company’s stakeholders. This includes the requirements of sustainable development. We believe that building good relationships with employees, suppliers and wider society is the best guarantee of long-term success. This is the backbone of our approach to CSR.’
The issue of how broader social performance objectives can be included in operations management’s activities is of increasing importance, from both an ethical and a commercial point of view. It is treated again at various points throughout this book, and the final chapter
(Chapter 21) is devoted entirely to the topicFigure 2.3 illustrates just some of the stakeholder groups that would have an interest in how an organization’s operations function performs. But although each of these groups, to different extents, will be interested in operations performance, they are likely to have very different views of which aspect of performance is important. Table 2.3 identifies typical stakeholder requirements. But stakeholder relationships are not just one-way. It is also useful to consider what an individual organization or business wants of the stakeholder groups themselves. Some of these requirements are also illustrated in Table 2.3.
Corporate social responsibility (CSR)
Strongly related to the stakeholder perspective of operations performance is that of corporate social responsibility (generally known as CSR). According to the UK government’s definition,
‘CSR is essentially about how business takes account of its economic, social and environmental impacts in the way it operates – maximizing the benefits and minimizing the downsides. . . .
Specifically, we see CSR as the voluntary actions that business can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of wider society.’ A more direct link with the stakeholder concept is to be found in the definition used by Marks and Spencer, the UK-based retailer. ‘Corporate Social Responsibility . . . is listening and responding to the needs of a company’s stakeholders. This includes the requirements of sustainable development. We believe that building good relationships with employees, suppliers and wider society is the best guarantee of long-term success. This is the backbone of our approach to CSR.’
The issue of how broader social performance objectives can be included in operations management’s activities is of increasing importance, from both an ethical and a commercial…