ABSTRACT
This chapter argues that unfolding stakeholder relationships, and in particular emerging processes for stakeholder engagement, can best be understood by beginning to integrate corporate social performance/responsibility, stakeholder and strategic relationship theories. It provides a framework that can enhance understanding of the dynamics of and rationale for the increased levels of stakeholder engagement witnessed. The chapter explores a conceptual framework for linking the literatures of business by reviewing the history and influential ideas of these conceptual foundations to better understand how and why stakeholder engagement occurs. It also argues that corporate 'social' responsibility has moved from a position where the responsibilities of the firm, originally rather broadly understood to be part of business's social contract, moved to a narrow concept of maximising returns to shareholders. Corporate social performance theory is a response to neoclassical economics' somewhat narrow emphasis on maximising shareholder value.
