15. The Corporation and Its Stakeholders

  1. Nikos Avlonas Founder and President1 and
  2. George P. Nassos Principal2

Published Online: 1 NOV 2013

DOI: 10.1002/9781118787472.ch15

Practical Sustainability Strategies: How to Gain a Competitive Advantage

Practical Sustainability Strategies: How to Gain a Competitive Advantage

How to Cite

Avlonas, N. and Nassos, G. P. (2013) The Corporation and Its Stakeholders, in Practical Sustainability Strategies: How to Gain a Competitive Advantage, John Wiley & Sons, Inc, Hoboken, NJ. doi: 10.1002/9781118787472.ch15

Author Information

  1. 1

    Center for Sustainability & Excellence

  2. 2

    George P. Nassos & Associates, Inc.

Publication History

  1. Published Online: 1 NOV 2013
  2. Published Print: 20 NOV 2013

ISBN Information

Print ISBN: 9781118250440

Online ISBN: 9781118787472

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Keywords:

  • corporate social responsibility (CSR);
  • corporation;
  • power;
  • shareholders;
  • stakeholders

Summary

Modern businesses, nongovernmental organizations (NGOs), and governments demonstrate the importance of stakeholder relationships and seem to grasp the vital role they play in terms of the organization's success. Concurrently, during the last decades, the business world appears preoccupied with an interesting debate. This debate, namely, concerns the issue of whether corporations should focus on shareholders or stakeholders. Campbell applies multiple strategies to engage our stakeholders and gather diverse external perspectives on our business activities. It can be challenging to address certain stakeholder issues that directly conflict with our business practices. Corporate social responsibility (CSR) performance can be extremely beneficial for enterprises in many different ways. After analyzing the various advantages of adopting CSR strategies, it is still necessary to mention that there are arguments concerning the responsibilities of a business, as a balance of power with responsibility.