Brief: This is an article for Fortune Chinese magazine. I wrote this piece on behalf of China CSR Map project. The key of this article is to talking about the relationship between stakeholders and corporations, and how a company can do CSR by engaging stakeholders.
Part-1 origin of CSR
This part reviews the origin, and the concept of CSR. I have to say, CSR is not a totally new concept. It can be traced back to hundreds of years ago. However, in a modern society, CSR matters more than before as many companies are tradable in the stock exchange.
Part-2 who are stakeholders?
Stakeholder is a very broad concept. Any one that can impact business operation materially or potentially can be called stakeholders. For instance, as for a paper mill, paper consumers, employees, citizens living along side the river are all stakeholders.
Part-3 from quarrels to dialogue
The best way to engage stakeholders is to build up dialogue. There are a lot of examples that can demostrate the power of dialogue, for example, the Dragon Recycling, and the China-Germany Hangzhou Project.
Part-4 how far away from China
I points out some challenges among the CSR areas:
First, misunderstanding on CSR
Second, companies know why, but do not know how.
Third, lack of CSR stakeholders information.
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