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A New Approach to CSR: Company Stakeholder Responsibility

In: Corporate Social Responsibility

Author

Listed:
  • R. Edward Freeman
  • S. Ramakrishna Velamuri

Abstract

Assume that the CEO of Firm A is asked the following: ‘Well, I know that your company makes products that consumers like, and that those products make their lives better. And I know that suppliers want to do business with your company because they benefit from this business relationship. I also know that employees really want to work for your company, and are satisfied with their remuneration and professional development. And, let’s not forget that you’re a good citizen in the communities where you are located;2 among other things, you pay taxes on the profits you make. You compete hard but fairly. You also make an attractive return on capital for shareholders and other financiers. However, are you socially responsible?’

Suggested Citation

  • R. Edward Freeman & S. Ramakrishna Velamuri, 2006. "A New Approach to CSR: Company Stakeholder Responsibility," Palgrave Macmillan Books, in: Andrew Kakabadse & Mette Morsing (ed.), Corporate Social Responsibility, chapter 1, pages 9-23, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59957-4_2
    DOI: 10.1057/9780230599574_2
    as

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