Corporate Social Responsibility (CSR): Models and Theories in Stakeholder Dialogue

  • O 'riordan L
  • Fairbrass J
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JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact ABSTRACT. The pharmaceutical sector, an industry already facing stiff chaUenges in the form of intensified competition and strategic consolidation, has increasingly become subject to a range of pressures. CruciaUy, in common with other large-scale businesses, pharmaceutical firms find themselves 'invited' to respond positively to the corporate 'social' responsibility (CSR) expectations of their stakeholders. Consequently, individual managers wiU al most certainly be obliged to engage in some form of stakeholder dialogue and this, in turn, means that they wiU have to make difficult choices about which practices to adopt. This real-world management predicament runs paraUel to an academic interest in CSR stakeholder dia logue theory and models. Accordingly, the approach of this paper is to focus primarily on the academic debate sur rounding stakeholder dialogue, by reviewing past attempts to research and theorise the subject, by identifying gaps and weaknesses in the literature, and by proposing a new ana lytical model. The central aim ofthe proposed new model is to offer a unified, structured, systematic, and comprehen sive approach to CSR decision making whilst simulta neously providing a practical framework for CSR executives who face the chaUenge of responding in an effective manner to stakeholders. The model outlined here is currently being employed to conduct international comparative empirical research into stakeholder dialogue practices amongst UK and German pharmaceutical firms. In the longer term the intention is to use the model to undertake international comparative research encompass ing a broader range of countries and industries.

Author-supplied keywords

  • corporate social responsibility
  • pharma ceutical industry
  • stakeholder dialogue
  • stakeholders

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  • Linda O 'riordan

  • Jenny Fairbrass

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