TOWARDS A NEW MODEL TO DESCRIBE THE ORGANIZATION-STAKEHOLDER RELATIONSHIP (OSR) BUILDING PROCESS: A STRATEGIC CORPORATE COMMUNICATION PERSPECTIVE

Abstract

Successful organizations depend on stakeholder perceptions to address changes in turbulent organizational environments, report on social and environmental impacts of activities, the prevalence of public activism, globalization, emerging issues and crises and the need to be good corporate citizens through ethical and socially responsible behaviour. Despite the current emphasis on stakeholder relations and management, a lack of research exists on how to build these relationships. This article aims to report and discuss the findings of a study that explored the lack of OSR building models to emphasize the elements and development of an organization-stakeholder relationship (OSR) and highlight the need for a generic, strategic, integrated approach for sustainable OSR to contribute towards organizational effectiveness. This will be done by an exploratory literature review to constitute a conceptual framework for OSR building of which the principles of the framework will be explored and measured among leading Johannesburg Stock Exchange (JSE) listed, South African organizations, by means of a quantitative web-based survey and qualitative one-on-one interviews. The dominant focus on organizational stakeholders has also provided added impetus and importance to the role of corporate communication, and hence, this article will simultaneously endevour to highlight the importance of practicing corporate communication strategically by emphasizing the role thereof in OSR