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The Role of Strategic Conversations

In: Business and Management

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The role of Strategic Conversations with Stakeholders in the Formation of Corporate Social Responsibility Strategy.

Summary

The main discussion of this journal is to explore the role and the use of strategic conversations in corporate social responsibility (CSR) strategy formation from a conceptual perspective to actual practices. Based on this research, the authors have given the strongly recommendation that by intensifying the stakeholder engagement in the CSR strategy-making process, through the mechanism of strategic conversations, will not only minimize the future stakeholder’s concerns and enhance CSR strategy making effectiveness but also maximize organizational sustainability.
The learning outcomes are concluded in the following key points: * Corporate Social Responsibility
- The evolution of the Corporate social responsibility (CSR) was from a basic concept and belief to become a popular debating subject in recent decades which is centered in ‘whether CSR should take priority over a company’s obligation to make money for its stockholders or vice versa’.
- There was a general consensus to align strategies to take full advantage of CSR business opportunities while also including stakeholders in the strategy-making process. * Strategic conversations
- Understanding the variety of strategic conversation definitions and how it works properly in an organization through direct communication mechanisms between three pillars: top management, BSE and relevant stakeholder.
- The model of strategic conversations has changed as a reflection of stakeholder engagement can be seen from: the organizational planning approach (Van der Heijden); the hierarchical model of strategic conversations (adapted from Kotler and Keller) and the increasingly important role of Boundary-spanning employees (BSEs) in strategic conversations (Chesley and Wenger, Liedtka…...

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