Last modified: 2013-10-29
Corporate social responsibility is a response to outdated understanding of the growth and the obsolete definition of business emphasizing only the dimension of a profit. Original unlimited growth has been replaced by the concept of sustainable development. Current theory of the firm is based on the stakeholder concept replacing the traditional pattern sole responsibility of the owners – shareholders. At the same time company do not resign from its original objective, they are only correcting the way how to achieve a desired profit. Stakeholder analysis is an essential tool for concept of strategic corporate social responsibility. The analysis output is the evaluation of the degree of influence and expectations of stakeholders. Based on results should be optimized resources on communication with stakeholders, and chosen the appropriate communication strategy.
The synthesis of various stakeholder analysis methods has been conducted based on available literature search and thus own analysis model created. The basic model outputs are: stakeholder map, matrix of influence and expectations, matrix of engagement and finally comparison of stakeholder importance to the economic strength of the group. This model has been then applied in a case study of Bako Ltd.