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Benefits of Corporate Social Responsibility to Stakeholders Analysis

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Analytical Review
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Benefits of Corporate Social Responsibility to Stakeholders
Corporate Social Responsibility involves different types of initiatives to different
stakeholders of the company. The article is specifically about the difference in CSR
initiatives to the community, consumers, shareholders, employees and suppliers. This
study also suggests the differential effects of such CSR initiatives on different
stakeholders. It also explains about the value creation by the CSR activities to the
stakeholders. CSR is one of the major strategies that helps in setting a long-term
relationship with the stakeholders. CSR in most of the situation sets a positive impact
its stakeholders. The companies that are not concerned with ethical and moral
principles that impacting negatively to the environment and the society will be
betrayed by the stakeholders. CSR initiatives is the vital part of the company that
helps in fulfilling the needs and desire of the stakeholders thereby building long-term
relationship. CSR practices oriented to the improvement in environment and people’s
life brings a major benefit to the stakeholders. It exercises a strong influence of the
products/services to the consumer.
The competitiveness in business environment has demanded the companies to find the
new ways to carry out its CSR activities. Stakeholders plays an important role in
decision making. Hence, companies CSR activities should be directed towards
fulfilling the expectations and core values of the stakeholders. According to CSR
ranking (2014), Google, Microsoft, Walt Disney, BMW and Apple have been
successful in aligning their corporate performance to CSR with positive impact on the
stakeholders.
The major question addressed by the article is how the stakeholders are influenced
and benefited by those CSR strategies in Romanian market. Currently, the state of
CSR activities is at surface level in Romanian market. The companies must learn

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needs of the society and new generation are becoming dynamic and complex and
company should embed its CSR activities in day to day activities and its business
model. (Crisan-Mitra & Broza, 2015)
Abstract
Company’s strategies and values must be in accordance to stakeholders
expectations and needs because their role and influences on company’s activity are
decisive for company’s future development. Corporate Social Responsibility is a
meaningful way through which companies can pursue sustainable development by
having a coherent economic, social and environmental perspective on how the
business should be managed. CSR must become an integral part of corporate
management system, because it has a major role in distressing the relation between
company and major stakeholders, both internally and externally. CSR is a global
phenomenon, which draws the attention of a growing number of partisans, from
public private and social sector. To demonstrate the applicability of the theoretical
approaches deduced from the existing literature, the authors recourse to an empirical
qualitative research, conducted through a questionnaire implemented to top managers,
HR managers and heads of CSR departments within large companies that operate in
Romania. The research is based on the analysis of a number of 87 questionnaires and
aims to highlight major stakeholders and finding how companies ‘responsible
activities can influence stakeholders. This study is designed to highlight how
prioritization of stakeholders influences CSR initiatives within large companies that
operate in Romania, and to present a perspective of company ‘s approach towards
shared value influence major stakeholders. The conclusions drawn have a greater
relevance both theoretically and especially practically because provides insights on

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Benefits of Corporate Social Responsibility to Stakeholders Corporate Social Responsibility involves different types of initiatives to different stakeholders of the company. The article is specifically about the difference in CSR initiatives to the community, consumers, shareholders, employees and suppliers. This study also suggests the differential effects of such CSR initiatives on different stakeholders. It also explains about the value creation by the CSR activities to the stakeholders. CSR is one of the major strategies that helps in setting a long-term relationship with the stakeholders. CSR in most of the situation sets a positive impact its stakeholders. The companies that are not concerned with ethical and moral principles that impacting negatively to the environment and the society will be betrayed by the stakeholders. CSR initiatives is the vital part of the company that helps ...
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