ABSTRACT
Each member of an individual stakeholder group (customers, employees, suppliers, shareholders and society) can – and does – apply a range of pressures on an organisation. These pressures can also be regarded as an opportunity. By consulting wisely with these stakeholder groups, organisations can plan in detail how they’re going to meet the needs and concerns of these people and groups. Doing this for all groups simultaneously can be a challenge – for example, suppliers may want to deliver more frequently to reduce their warehouse stocks, while society prefers to see fewer vehicles on the roads. But by including CSR in business planning, organisations can reap benefits, including:
• a more motivated and loyal workforce • greater productivity • reduced overheads and greater efficiency • more sales • greater access to capital • increased customer loyalty • improved reputation • reduced risk of prosecution • access to investment and larger market shares.
