Abstract

The paper is dedicated to identifying the role of stakeholders in implementing social and environmental responsibility of a company. A list of key stakeholders for corporate social and environmental responsibility is provided in the paper. An organizational and economic system for corporate social and environmental responsibility is described in the paper. The system includes a number of elements: diagnostic block, block of implementing measures of social and environmental responsibility of business, and block of social and economic transformations.

The authors determined the interrelations in a system of implementing social and environmental responsibility of companies. Thus, a system of organizational and economic incentives for social and environmental responsibility of a firm is a cycle of mutual influence of corporate social and environmental responsibility and stakeholders.

Keywords: social and environmental responsibility, stakeholders, internal stakeholders, external stakeholders, shareholders, institutional transformations, organizational and economic measures, cross-sector partnership.

JEL Classification: L20, M14, O13, Q32.

Cite as: Smolennikov, D., Kostyuchenko, N. (2017). The role of stakeholders in implementing corporate social and environmental responsibility. Business Ethics and Leadership, 1(1), 55-62. Doi: 10.21272/bel.2017.1-07

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