Sustainable Success with Stakeholders

Sachs, Sybille; Rühli, Edwin; Kern, Isabelle

doi:10.1057/9780230271746

Cited by 19 publications

(15 citation statements)

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“…The CSR construct also permeates the business discourse beyond education and similarly needs to provide a moral counterweight to the competitive environment that can present numerous temptations to put aside ethical and legal obligations when the economic arguments are strong enough. I would thus argue, in common with others (Kang & Wood 1995;Sachs & Ruehle 2009), that on conceptual grounds alone, both legal and ethical responsibilities should be placed before economic responsibilities. The empirical results from this study indicate that this argument would be consistent with the currently held views of both business and non-business respondents.…”

Section: Integration Of Conceptual Arguments With Empirical Resultsmentioning

confidence: 64%

“…This raises the stakes for the well-being of society and the environment of perpetuating a model of CSR that prioritises economic concerns over ethical concerns. Sachs and Ruehle (2009) agree, highlighting the example of Enron whose prioritisation of economic over ethical and legal duties resulted in a major business ethics scandal. As argued by Sachs and Ruehle, corporations cannot be seen as purely economic entities detached from the individual.…”

Section: Critique Of Prioritisation Of Economic Responsibilitiesmentioning

confidence: 99%

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A reconstruction of Carroll’s pyramid of corporate social responsibility for the 21st century

Baden

2016

Int J Corporate Soc Responsibility

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As one of the most influential models of corporate social responsibility (CSR), Carroll's pyramid of CSR has both reflected, and helped to perpetuate, a business-centric notion of CSR which implies that economic responsibilities take precedence over legal and ethical responsibilities. This paper argues that this conception of CSR needs updating to reflect the increased power of business in society. An empirical survey of 400 respondents from both business and non-business backgrounds indicated that current conceptions of the relative importance of business responsibilities differ greatly from Carroll's rankings. Based on the empirical research and conceptual arguments, a revised CSR pyramid is proposed with responsibilities ranked as follows: ethical, legal, economic and philanthropic.

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Section: Integration Of Conceptual Arguments With Empirical Resultsmentioning

confidence: 64%

Section: Critique Of Prioritisation Of Economic Responsibilitiesmentioning

confidence: 99%

A reconstruction of Carroll’s pyramid of corporate social responsibility for the 21st century

Baden

2016

Int J Corporate Soc Responsibility

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“…Furthermore, the fact that in Carroll (1991) Pyramid Model, the legal responsibilities are located in the second row and follow by ethical responsibilities, indicates the belief that US companies are more interested in discharging their legal and ethical responsibilities rather than the discretionary ones. Later research, however, suggests that legal and ethical responsibilities are more primary (Sachs and Ruehle, 2009;Pedersen, 2010, Baden, 2016, and certainly, French and German consumers tended to rate legal and ethical responsibilities of primary importance (Maignan, 2001).…”

Section: Csr Principle 3: Legal and Ethical Responsibilitiesmentioning

confidence: 99%

How to win the battle of ideas in corporate social responsibility: the International Pyramid Model of CSR

Masoud¹

2017

Int J Corporate Soc Responsibility

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This paper reviews the definitions of Corporate Social Responsibility (CSR) as they have evolve over time. It traces the origins of the concept and creates a theoretical framework for international use, thus having the benefit of applicability in both developing as well as developed economies. The models of Carroll and Visser are integrated to produce The International Pyramid Model of CSR, which acknowledges the relative importance of economic, glocal, legal and ethical, and philanthropic aspects of the CSR concept. The primary innovation in the International Pyramid is the development of 'glocal' responsibilities, relating to the environment, socio-cultural matters, technology users, and political rights. Additionally, the International Pyramid condenses Carroll (Business Horizons 34(4):39-48, 1991) pyramid such that the separate legal and ethical responsibilities are merged into one 'legal and ethical' obligation. Furthermore, it offers flexibility by acknowledging that the various responsibilities it embodies can shift up or down the pyramid as priorities change, which is inevitable as businesses and economies differ cross-sectionally, and over time.

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“…From a company's perspective, this can lead to a sustainable competitive advantage; intangible resources such as relationships are hard to copy. We experienced this eff ect in our previous research (Post et al, 2002a;Sachs et al, 2008Sachs et al, , 2009Schmitt, 2007) in the fi nancial, telecommunication, and energy industries. All of the case studies indicated that a business model based on a broader stakeholder orientation enhances the companies' wealth-creation process and strategic success.…”

Section: Introductionmentioning

confidence: 83%

The ‘stakeholder view’ approach: an untapped opportunity to manage corporate performance and wealth

2010

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A comprehensive evaluation of the whole network of stakeholders is needed to assess the firm value.A sound method is needed to compare the subjective perceptions of the stakeholders, and to objectify these through a process of mediation.The evaluation of the stakeholder network is qualitatively sounder when it is conducted by an impartial party or a facilitator.A model combining mediation with the 'Stakeholder View' is proposed as a novelty method to manage performance and wealth.The management together with stakeholders will need to develop an accounting system for measuring achievement and success. M anagement should focus on interacting and partnering with all stakeholders to enhance corporate performance and firm's value. 1 JEL classifi cation codes: M10, M14.Figure 7. Pfi zer identifi ed holistic performance indicators of good stakeholder interaction practices with stakeholders.

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Sustainable Success with Stakeholders

Cited by 19 publications

References 0 publications

A reconstruction of Carroll’s pyramid of corporate social responsibility for the 21st century

A reconstruction of Carroll’s pyramid of corporate social responsibility for the 21st century

How to win the battle of ideas in corporate social responsibility: the International Pyramid Model of CSR

The ‘stakeholder view’ approach: an untapped opportunity to manage corporate performance and wealth

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