Authors: Samuelson, Judith; Birchard, Bill
Source: Strategy + Business. Fall 2003; Issue 32.
Number of pages: 8
This article discusses the importance of listening to stakeholders in today's business reality. Drawing on 12 recent publications, the authors both identify and address five challenges in realizing a vision of social responsibility by relating to stakeholders:
(1) convincing leaders that the social impact of business decisions matters;
(2) changing corporate behavior;
(3) choosing the stakeholder groups to engage;
(4) choosing partners for deeper alliances; and
(5) institutionalizing stakeholder dialogue.