ABSTRACT
Social, environmental, and economic capital can be impacted inside and outside the company. Social value outside the company could be social welfare created by a donation to a local school, while internal social value could be increased job satisfaction of employees. Managing blended value John Elkington, the creator of the term “triple bottom line”, describes sustainable business as a “multidimensional challenge,” defined by the basic task to manage social, and environmental value simultaneously. The impacts to be made on social, environmental, or economic issues involved in the management process are manifold and may require substantial and diverse specialist knowledge. To manage responsible business, it makes sense to split a company’s overall activity into individual manageable activities. Once such a list of individual activities is established, it is crucial to deeply understand the main elements and the management instrument applied to each activity. For a better understanding of the basic characteristics of stakeholders, and how to manage the stakeholder relationship.
