Stakeholder Theory and Marketing: Moving from a Firm-Centric to a Societal Perspective

This essay is inspired by the ideas and research examined in the special section on “Stakeholder Marketing” of the Journal of Public Policy & Marketing in 2010. The authors argue that stakeholder marketing is slowly coalescing with the broader thinking that has occurred in the stakeholder management and ethics literature streams during the past quarter century. However, the predominant view of stakeholders that many marketers advocate is still primarily pragmatic and company centric. The position advanced herein is that stronger forms of stakeholder marketing that reflect more normative, macro/societal, and network-focused orientations are necessary. The authors briefly explain and justify these characteristics in the context of the growing “prosociety” and “proenvironment” perspectives—orientations that are also in keeping with the public policy focus of this journal. Under the “hard form” of stakeholder theory, which the authors endorse, marketing managers must realize that serving stakeholders sometimes requires sacrificing maximum profits to mitigate outcomes that would inflict major damage on other stakeholders, especially society

Corporate social responsibility: an empirical investigation of U.S. organizations

Organizations that believe they should give something back to the society have embraced the concept of corporate social responsibility (CSR). Although the theoretical underpinnings of CSR have been frequently debated, empirical studies often involve only limited aspects, implying that theory may not be congruent with actual practices and may impede understanding and further development of CSR. The authors investigate actual CSR practices related to five different stakeholder groups, develop an instrument to measure those CSR practices, and apply it to a survey of 401 U.S. organizations. Four different clusters of organizations emerge, depending on the CSR practice focus. The distinctive features of each cluster relate to organizational demographics, perceived influence of stakeholders, managers perceptions of the influence of CSR on performance, and organizational performance

Stakeholder communication in 140 characters or less: a study of community sport foundations

Community sport foundations (CSFs), like other non-profit organizations, are increasingly employing social media such as Twitter to communicate their mission and activities to their diverse stakeholder groups. However, the way these CSFs utilize social media for communicating such practices remains unclear. Through a mixed-method approach of content analysis of tweets from 22 CSFs established by English professional football clubs and interviews with key individuals within these CSFs (n = 7), this study examines the extent to which CSFs’ core activities are being communicated through Twitter and identifies the strategies employed for doing so. Reflecting the target audiences CSFs are seeking to reach through Twitter and the challenges associated with communication about projects involving marginalized groups, tweets largely concern programs related to sports participation and education. The most frequently employed communication strategy is to inform, rather than interact or engage with stakeholders. However, CSFs with higher organizational capacity attempt to go beyond mere informing towards engaging with stakeholder groups that relate to their social agenda, highlighting the importance of trained and dedicated social media personnel in optimizing CSFs’ use of Twitter for communication

Managing social risk through stakeholder partnership building Empirical descriptive process analysis of stakeholder partnerships from British Petroleum in Colombia and Hoechst in Germany for the management of social risk

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Stakeholder Engagement

Stakeholder engagement (SE) is the process used by an organization to engage relevant stakeholders for a clear purpose to achieve agreed outcomes. It is now also recognized as a fundamental accountability mechanism, since it obliges an organization to involve stakeholders in identifying, understanding, and responding to sustainability issues and concerns, and to report, explain, and answer to stakeholders for decisions, actions, and performance