The study of stakeholder management as way to understand the consequences of economic crisis in the banking sector
AbstractFinancial recessions strengthen the importance businesses give to corporate social responsibility (CSR) in order to enhance credibility and reputation. The multiple case study presented herein aims at disclosing the role of CSR in the current strategic management of banking institutions in Spain. Some of the companies in this country are world leaders and their study can help other international businesses to implement successful corporate strategies. The analysis draws on the theoretical perspective of stakeholder management theory and focuses on practical activities of different kinds of banking institutions to address how they manage their CSR policies. The findings demonstrate that a strategic approach to CSR, derived from a special significance given to customers and employees in the management of stakeholders, leads to profitable CSR policies. This idea underscores the connection between profit maximization and stakeholder management which accounts for the current robustness of banks in the marketplace. Other institutions developing CSR strategies around social stakeholders have encountered solvency and cash-flow problems which have seriously modified the national marketplace.
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Bibliographic InfoPaper provided by Catedra Fundación Ramón Areces de Distribución Comercial in its series DOCFRADIS Working Papers with number 1204.
Date of creation: Sep 2012
Date of revision: Sep 2012
Publication status: published
Responsabilidad social corporativa; grupos de interés; entidades bancarias; estudio de casos;
Find related papers by JEL classification:
- M3 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising
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- Longinos Marin & Salvador Ruiz, 2007. "â€œI Need You Too!â€\x9D Corporate Identity Attractiveness for Consumers and The Role of Social Responsibility," Journal of Business Ethics, Springer, Springer, vol. 71(3), pages 245-260, March.
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