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Engaging stakeholders through Facebook. The case of Global Compact LEAD participants

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  • Luisa Bosetti

    (University of Brescia)

Abstract

Facebook has deeply modified the way people communicate and interact. From a business perspective, Facebook has enormous potential as a means of communication and stakeholder engagement. It enables companies to share contents rapidly and efficiently with a large number of stakeholders worldwide. People can personalise their Facebook profile to receive updates from selected companies. Moreover, people can reply to such posts or simply manifest their approval by liking or sharing the posts. In this way, people also propagate corporate information among their own friends.The dramatic diffusion of Facebook should encourage companies to virtually interact with a network of stakeholders 2.0, using Facebook as a stakeholder engagement tool.The evolution to Web 2.0 goes with a general change in the social and business environment. In today?s world, both policy makers and the public expect that companies work in a sustainable way and consult their stakeholders about corporate strategies, operations and performance. The discussion should concern social and ecological cares as well as economic issues. In this sense, the engagement of the Facebook community could considerable enlarge and improve the dialogue.This paper offers a theoretical and empirical analysis to answer the following research question: do sustainability-oriented companies use Facebook as an effective means of stakeholder engagement? The paper contains an investigation based on UN Global Compact LEAD members, characterised by strong commitment and cooperation with governments, civil society, labour and the UN in order to promote sustainable practices. To evaluate the contribution of Facebook to the dialogue on sustainability, the investigation considered the types of contents published by the LEAD companies on their Facebook pages in 30 days. According to the subject, seven categories of posts emerged from the analysis: human rights and social citizenship; labour; environment; anti-corruption; strategy, business activity and economic performance; news on products and services; other.To evaluate the use of Facebook for stakeholder engagement 2.0, the investigation verified how many ?likes?, comments and ?shares? each post received and how often the company replied.The analysis showed that some LEAD members did not have a Facebook profile, which is unacceptable nowadays. Moreover, the companies with an official page rarely covered all three perspectives of sustainability (social, environmental, and economic issues). Furthermore, companies rarely replied to stakeholders? comments. Based on the empirical evidence, most LEAD participants should modify the way they used Facebook. Therefore, the results of this research may help them improve stakeholder engagement 2.0.

Suggested Citation

  • Luisa Bosetti, 2015. "Engaging stakeholders through Facebook. The case of Global Compact LEAD participants," Proceedings of Business and Management Conferences 3005158, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:ibmpro:3005158
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    More about this item

    Keywords

    Web 2.0; Facebook; stakeholder 2.0; communication; stakeholder engagement; sustainability; Global Compact LEAD;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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